The Carrefour Brasil group registered adjusted net profit of R $ 1.77 billion in the fourth quarter of 2024, a jump of 241% year to year, as a result mainly explained by the recognition of R $ 1 billion in deferred tax assets relating to accumulated losses of the group Big.
“This recognition is equivalent to the expected gains horizon for the next five years,” the company’s chief financial officer Eric Alencar told journalists.
Without adjustments, the profit totaled R $ 1.16 billion in the period, reversing the loss of R $ 565 million in the same period of the previous year, according to results report released on Tuesday (18).
Analysts, on average, expected profit of $ 374 million for the company in the period, according to estimates compiled by LSEG.
The profit before interest, taxes, depreciation and amortization (EBITDA) adjusted from Carrefour Brasil totaled R $ 1.92 billion, growth of 2.2% year by year, against an average expectation of analysts of R $ 1.77 billion.
The group, which operates the brands Atacadão, Carrefour and Sam’s Club, added total gross sales of R $ 32.8 billion in the quarter closed in December, 5.5% above the same period a year before, pulled by the performance of the Atacadão flag, whose Gross sales rose 9.6%to R $ 23.3 billion (and same stores marked +6.3%). In retail, Carrefour Brasil sales retreated 7.6%, to R $ 7.3 billion.
Financial expenses (SG&A) of the group rose 1.8%, with the percentage of net sales decreasing 50 base points, which the chief financial officer attributed to the company’s cost discipline, seeking efficiency gain.
Carrefour Brazil’s executive president, Stephane Maquaire, also highlighted a positive start of 2025 for the group’s stores, despite the price pressures.
“January was a little better. We follow, obviously, at the level of inflation in our stores, especially in food products… but the beginning of the year was a little better than the end of the year was. ”
French retailer Carrefour, controller of Carrefour Brasil, presented last week proposal to buy the shares of the Brazilian unit detained by minority shareholders and close the company’s capital.
Carrefour Brasil accounts for about 20% of global gross sales of the French group.
The proposed alternatives include a cash payment per action of Carrefour Brasil, the exchange of actions of the Brazilian unit for roles of the French group and a counterpart involving both action and money.
The CFO commented that the movement, materialized, should make the operation “simpler”.
In 2024, Carrefour Brasil opened 19 new Atacadão stores, 18 of them conversions and one organic. For 2025, said Maquaire, “let’s make some organic openings and greatly reduce the number of stores converted” without citing numbers.
The executive also added that, with the Selic rate in high levels, the priority will be in the cash flow and leverage of the company, with fewer openings compared to last year to the formats Atacadão and Sam’s Club.
