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B2W Announces a Growth of 80% of Net Income, 35% of Gross Revenue and an Improvement of 25 Days on the Cash Conversion Cycle in 3Q08
RIO DE JANEIRO, Brazil, Nov 06, 2008 /PRNewswire-FirstCall via COMTEX/ --
B2W - Companhia
Global do Varejo (BOVESPA: BTOW3), a company formed from the merger between
Americanas.com and Submarino, announces today its results for the 3rd quarter
of 2008 (3Q08) and the first nine months of 2008 (9M08). The financial
statements were prepared and are presented in accordance with the norms issued
by the Securities Exchange Commission (known locally as CVM) as well as the
Novo Mercado listing rules. Except when otherwise specified, the analyses
refer to the Parent Company (Americanas.com, Submarino and Shoptime).
B2W's portfolio is comprised of the brands Americanas.com, Shoptime,
Submarino, Blockbuster Online, Ingresso.com, Submarino Finance and B2W
Viagens, offering over 30 product and service categories through the Internet,
telesales, catalogues, TV and kiosks.
Highlights of the Period
-- Gross revenue: 35% growth in 3Q08 and 38% in 9M08
Gross revenue reached R$1,108MM in 3Q08, representing a growth of 35%
in relation to 3Q07. In the 9M08, the growth was 38% in comparison with
the 9M07.
-- Gross Profit: 37% growth in 3Q08 and 38% in the 9M08
In 3Q08, Gross Profit jumped to R$235MM from R$172MM in 3Q07, up 37%
and registering a Gross Margin of 30.4%. In 9M08, gross profit totaled
R$672MM with a Gross Margin of 30.3%.
-- EBITDA: Growth of 44% in 3Q08 and 48% in 9M08
EBITDA reached R$120MM in 3Q08, representing a growth of 44% in
relation to 3Q07. In 9M08, EBITDA reached R$325MM, up 48% in relation
to the same period of the previous year.
-- EBITDA Margin: +90 bps in 3Q08 and +100 bps in 9M08
15.5% of NR in 3Q08 and 14.7% in the 9M08, up 90 and 100 bps when
compared with the same periods of 2007.
-- Net Income: 80% growth in 3Q08 and 50% in 9M08
In 3Q08, Net Income jumped to R$27MM from R$15MM in 3Q07, representing
growth of 80%. In 9M08, Net Income reached R$58MM, up 50% in relation
to 9M07.
-- Cash Conversion Cycle: Improvement of 25 days
In 3Q08, B2W's cash conversion cycle was 87 days against 112 days in
the same period of the preceding year.
-- Submarino Finance: More than 350 thousand cards issued
Submarino Card reached the milestone of 18% in sales in Submarino
website.
-- B2W launched the new Submarino and Shoptime websites
Innovative concept, faster, modern and interactive.
For a complete version of the 3Q08 Earnings Release, access the company's
website: www.b2winc.com
Conference Call and Webcast
(in Portuguese - simultaneous translation into English)
November 07th, 2008 (Friday)
10:00 a.m. (ET)
Connection: +1 (888) 700.0802 (USA)
+1 (786) 924.6977 (other countries)
Code: B2W
Replay: until November 13th, 2008
Access: +55 (11) 4688.6312
Code: 242
Additional information may be obtained by contacting the Investor
Relations department:
Investor Relations Team
Phone: + 55 (21) 2206-6000
e-mail: ri@b2winc.com
SOURCE B2W
http://www.b2winc.com
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