Brazilian retail giant Grupo Mateus, the country's third largest player, posted a net profit of 318,5 million reais (about 48,9 million euros) in the first quarter, up 32,5% compared to the same period last year. Net revenues stood at 8,33 billion reais (1,3 billion euros), up 12,9% year-on-year, while net margin rose from 3,3% to 3,8%.
EBITDA reached 650 million reals (almost 100 million euros), marking an increase of 27,4%, with a margin growing from 6,9% to 7,8%. Operating expenses increased by 11,2%, while losses reached 181,2 million reals (+36,6%).
Net debt rose slightly to 614,4 million reais, but the leverage ratio improved to 0,27x. Growth benefited from the performance of newer stores: stores less than four years old generated 47% of total revenue. However, same-store sales fell by 4,4% (7,1% excluding calendar distortions).
The group closed the quarter with 276 points of sale, including 92 wholesale stores and 80 retail stores. Four new locations were inaugurated during the period in Pernambuco, Bahia and Maranhão. The strategy for 2025 focuses on targeted expansion, with greater investment discipline and more selective profitability criteria, in the face of macroeconomic difficulties and fiscal pressure in the Northeast region of Brazil.
