Panvel’s revenue rises 14% in the 1st quarter with record sales on digital
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The digital sale of the Panvel pharmacy reached a historic level in terms of the group’s revenue share, one of the largest in the segment in southern Brazil, and was one of the highlights of the chain’s performance in the first quarter of the year. The company had a 14.1% increase in gross sales, which reached R$ 1.1 billion, but net profit fell by 11.5% in the period, associated, according to a note from the quarterly balance sheet data, in part, to higher interest rates.
According to the company, with shares traded on the B3 stock exchange, purchases on online channels reached 17.9% of total gross revenue, the highest level since the adoption of this type of operation. In the first three months of last year, the digital front accounted for 15.5% of revenue. A factor that has become the number one goal for retail chains in any segment, speed of delivery, shows strong evolution in the chain in Rio Grande do Sul.
In the case of Panvel, the so-called last mile – the shortest time between leaving the order to reach its destination -, 60 minutes or one hour, represented 47.2% of deliveries, more than double the proportion registered in the first quarter of 2022, which was in 21% of orders. São Paulo remains the leader in this segment, accounting for 53.7% of purchases, followed by the Rio Grande do Sul market, with 17.9%. There were more than 480 thousand deliveries in three months.
The group’s retail operation, a portion of 91.1% of revenue, totaled R$ 1.02 billion, an increase of 14.2% compared to the first quarter of 2022, which registered a flow of R$ 877.4 million, but slightly below the last quarter of last year, when the network earned R$ 1.07 billion. The group highlighted, in a note on the balance sheet released on Wednesday night (10), the greater operational efficiency and EBITDA (earnings before interest, taxes, depreciation and amortization), with growth of 25.9% in relation to the same period last year, in addition to a margin of 4.5%.
In numbers linked to the size of the structure and reach, the network had 14 new physical units, two of them in São Paulo, where the brand wants to reach six new ones this year. The total number of stores reached 565 by the end of March, with 385 in Rio Grande do Sul, 96 in Paraná and 76 in Santa Catarina, in addition to those located in the capital of São Paulo.
Panvel had an advance of almost 30% in the customer base, which totaled 16.4 million at the end of the first quarter, an increase of 28.8% compared to the same quarter of the previous year. The base represents 53% of the population of the South Region, where Panvel’s market share reached 11.7%.
The performance of sales of hygiene and beauty products and generics, of 25.8% and 22.5%, respectively, compared to the same period last year, contributed to more gross margin gains, says the network, in a note. For the chain, the numbers in the segments show a change compared to the previous search for items linked to Covid-19, which pulled sales between 2020 and 2022.
“The efficiency of our category and mix management strategy was the main factor mitigating the impact of the reduction in the sale of services and products related to Covid. means of a complete and well dimensioned mix”, reinforces the group’s CEO, Julio Mottin Neto, commenting on the quarter’s numbers.
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