B2W sales increased strongly in the first quarter, yet under the impulse of electronic commerce in the face of measures of social isolation, But its damage increased due to greater subsidies for free freight.
The e-commerce group announced on Thursday (6) that it incurred a net loss of R $ 163.6 million in the first quarter, a loss of more than R $ 108 million in the same period of 2020.
The company, which owns the Submarino and Americanas.com sites, also reported that its total gross sales increased by 90.4% (GMV, abbreviated in English) year-on-year, to R $ 8.68 billion.
The company, which last month announced a business combination offer with Lojus American, was created to list the company on the stock exchange in the United States, recording net revenue of R $ 2.94 billion in the quarter, a year. 73.5% increase in.
On the other hand, adjusted general expenditure, representing 9.3% of total sales, represents an increase of 0.5 percentage point year on year, representing 9.3% of total sales, reflecting greater investment in free distribution. Sales expenses alone rose 130%.
Thus, the operating result measured by adjusted earnings before taxes, interest, depreciation and amortization (Ebitda) increased by a total of R $ 129.4 million to $ 12.4 million.
In the quarter, cash consumption was R $ 897.4 million, an increase of 38.9% in a year, with the company attributing this growth to seasonal factors and increasing inventions.
B2W said in the report, “For the next quarters and for the entire year, we strengthen our commitment to continue generating cash.”