Q1 2022 Via SA Earnings Call
And if they're sustainable way in a profitable way.
Yep.
I mean the different categories.
These measures are keeping us safe and so we're trying to do more and more going forward.
Which we which we release like we saw her friends and other categories.
As long as that which are growing.
567 hundred performance at the moment is just growing strongly in every category and scale testing.
Testing, our limits, which right now we have not yet.
And then parallel and myself.
Increasing penetration.
So did you lose.
Is it going to Darling.
It also gives us a better as well.
Thanks, Susan.
Okay.
Okay.
We lost you.
He read it out.
For the.
And when you say close to six.
We're growing in all of this.
Okay.
A real roll up.
This category so part of the <unk>.
We're not gonna make exactly the reason somebody can ignore all of the potential of this V. As I was going to accuse Joseph.
One more question for Joseph.
Let me know.
Youre correct.
The labor law.
The cases have been very positive results in the first the first results from being part of the year, but it's very very positive for the company.
The reduction okay.
My 43% of new cases to.
Turnover was much better than the company much better level of turnover.
Uh huh.
Right.
Moving my Sky and liquidating the most expensive cases things staying in the olden days fast food news, we've been successful in that order scene. We've had victories, yes are important because they would defend 100 per cent.
Just a couple other portfolio.
And the person who used to come up with their request.
Since you mentioned delays, which is actually predicting outcomes where.
More and more prepared so the control.
Sure.
Gautam categories rather than control.
Server demand, putting our guidance.
But we may have in Missouri is equal.
Improvements will communicate to the market.
As soon as they start to appear in the quarter was encouraging.
We're gonna weight and body.
Other quarters with a great deal of interest.
I mean, we also have been very lucky.
My.
Why isn't everybody else stock.
We're standing up our liquidity.
Okay.
It is accounted for at cost price without accurate insight through music and the different things you have to be.
And then grocery price attempt.
So that's kind of our turnover.
Typically they want to put it.
Turnover is expected for fourth quarter, So expect more turnovers in this stock during a year at certain of our stock four times per year.
It should be.
Once a quarter. Thank you very much.
Uh huh.
Next one.
<unk> from <unk>.
Yes.
Thank you very much for taking that.
Question I have if anything there's quite a bit.
And a follow up.
Okay.
And the reason I mentioned on Oh, that's are you looking at the pace I was wondering.
Two.
<unk> hundred 19 opening back up closer to the pre pandemic level coming tomorrow, because we have a better space.
In March and April due to the closing last year, that's about I wanted to understand the question.
And the second point is.
That's the thing that caught my attention.
But of all of the other retailers done that they've got the question of the problems in payments being lower than last year.
Controlled level, even though you've been.
Several new initiatives, which I think is not really sure.
A higher level of risk.
Hello.
Not necessarily reflecting did yesterday.
Even though.
That's a macro effect on the margin.
This dynamic.
NASA think it'd be a little more conservative on this one I think and just understand these two thank you very much.
Hello, Thanks for the question Phil.
But I don't know.
Parents and on mother's day.
As I mentioned.
They are a sale.
H.
Looking outside of the pandemic.
What kind of again, we cannot yet.
Youre right.
Reality.
It's day by day, we see.
The improvement.
In relation to if we look at the third and fourth quarter.
With this scenario.
Yeah.
I usually do.
January and.
February we also see a reduced traffic on the streets.
So where is coming back.
More and more we're seeing meaningfully advances which is Canada.
Kind of Omnichannel approach gives students via both for our consumers who bought into physical stores as well as online or in a hybrid way with the online sellers.
With our salespeople.
Please go ahead.
Thank you for your question.
I'm going to use a little bit in the personal loan.
Sample the vitamin E coli that you've observed so that scale up alone.
Everybody have a safe way.
We have a policy of strength in the credit area I'm always just north of us making the growth.
Of our portfolios and I'm proud that soon.
Soon as we have.
Observed.
The level of maintenance that we have.
I'm talking about the credit offering.
Great.
<unk> not only in English.
As well as Daniel also observing abuse.
And also in April and saw an improvement in the indicators.
What are you talking about these sorts of musical instruments.
Late payments payments.
Boston was upbeat.
We are very very secure and very attentive to all of these macroeconomic all the macroeconomic situations, but we remember that in all of our offering credit offerings are very very adequate and vital.
We've said this involves their young always Dodge adapted to the necessity and capacity of our clients to be able to make their mariner east two.
Martha just brings us.
So that's a surgery.
She is very.
Silver.
So for that reason that you've observed difference compared to the other players in the market. That's all I have.
Thank you for the question somebody in my opinion.
To reinforce it's a big it's a great tool absolute out how are we used it with absolute responsibility.
And all of these.
Cohorts to be able to increase our numbers on additional base stations to be able to increase our portfolio credits during the year, it's been growing.
Oregon reached $5 2 billion and we continue to raise it we understand that's a huge differential especially at these small balance sheet, where Brazil is living.
Yes.
Real estate and give access to silver.
Within the limit of what it can enable.
But per month, and that's a very different.
Great. Thank you very much.
Question is from Richard from Bradesco.
So our plans yet, but he got the floor.
Good morning, Thank you for that.
Yeah. So Vince you can think about you.
One of your five year guidance about a year since you did.
Obviously this guy of.
Of course, a lot of things.
So any things that are outside of your control and confusion I just wanted to ask if you can continue.
This guy buys.
Going forward is that if we're ahead of that.
And as far as the plan that you had in Europe when you.
The frequency and the second question second question is regarding the excuse.
Excuse me.
Same topic, so I'll give you a program, but it got cut off for me I wanted to ask about your coverage ratio of your credit.
Portfolio.
We understand that the coverage ratio is a little bit below this quarter compared to the other quarters as other top it doesn't have that much even though we haven't seen to how much you can shoot a G fees.
In an environment, which is still very difficult covanta.
Thank you for the questions just contingencies stumbles.
And that we are on the right.
Got it.
We're doing better than the guidance in several respect achieving at the moment.
Hum.
Trent arming our budget so quickly as we wind up doing.
And in fact.
Brings us to that.
Service.
The assets are.
So much more accelerated way than what we imagined.
At this time.
We understand that.
We're on the right.
On the right routes.
Following the guidance was given or even above that.
But I also like to add to that.
And also sort of hybrid.
Theater, our previous ones as far as even more.
And then a reduction.
To the latter.
Our cohort.
Gordon.
And I've had a very good performance.
This.
Translates into a reduction.
Turning to provisions up to more than one it also.
Yes.
And most of them in the next quarter, you're absolutely you can be able to have good indicators that tell me he himself.
With over $60.
Reduction thank you for the questions we got.
Great. Thank you.
The next question is from Felipe <unk> from Citi.
Good for me.
Can you hear me, Okay, Yeah, keep along with Linda and thank you for the opportunity.
My question is you don't book a key city win.
And it's a little bit of a dynamic amazing DNA.
There was an important reduction in the.
Bedroom productivity Dominion.
And also in the add backs.
The quality of the.
People in the back office things just wanted to understand a little bit Newport, where these gains in G&A and understand a little bit parade all seem to be reflected in the trade off is to meet.
Total between margin and growth of the year.
And your mentality is the idea is to maintain our focus on profitability.
Possible by GW.
I'll now pass this over to your question.
But before I do.
<unk> pulled the woman seeking are constantly seeking for ya.
Productivity for the company so.
Everything that we've got on the apartment is generating a higher productivity.
The fact is that we are.
Accordingly.
There's also a gain in productivity, it's also revenue and.
And it also dilutes our costs really good that you deploy.
Barry.
Great opportunity capital.
In the past is broker dealer now and ask him to speak a little bit more specifically.
Cause.
Reduction of SG&A during the lithium but.
But you got to they've got to put up there believe me. Thank you very much.
Sure thing.
Of all we have computed you're going through as a priority.
Troll and reduction of expenses.
Sure.
Initiative.
Not really.
This quarter at least.
As long as they would also impact the coming quarters as the case in central Pennsylvania.
Minority this a better utilization of the logistics aspects Andrew.
Partner sellers under Pennsylvania, It brings up.
Seller and it brings a benefit to us as well, but is there more acquisitions.
Mining dilution of this up to with the better utilization.
This quarter was that always elude me perfect generating productivity.
Productivity in the stores.
Sales you go there.
One P P.
Long tail.
Better penetration of survey.
<unk> created an online sales.
I see it was done.
She's also an even better utilization.
Kaki.
Of.
Bye bye.
If I get my screen better use less dependence on media paid media clients.
We're at the moment difficult.
Swirled in Brazil, there's a lot of missionary pressure.
Or a certain delays in cross correction.
Thanks for sharing that with great deal with somebody who can.
Ramping up care bus and we're negotiating things something great.
Very intensely on other diseases.
Some of them are leading to a buy sell.
They didn't do occupation profile about me revising mark deep and revising our orange.
Alright.
Our IC bar.
101.
Stores, unless I missed something to do with more than one piece of real estate alone.
It doesn't exactly.
But when we revise it.
Hum.
Find errors.
And we're recovering business.
Pardon me.
We're going to see some frequent chiquita.
First is the frequent for via H E B R noise.
Got it.
Several directions.
Thanks.
And we've been successful in this quarter in that.
So that definitely very.
Great well thank you.
Yes.
I'll stop loss method of Goldcorp.
Question from Eric.
From sometimes there.
Yes.
Okay.
Actually it didn't go down.
Yeah.
Love to understand a little bit better.
Yes.
Thanks, a lot.
You said your mom my partner physical copies of my English.
And the more reasonable area.
France and other countries and in the northeast for example, it's clear to me.
Are you seeing stronger advanced in that area.
The given idea granularity about how is this recovery.
It would be going forward. Thank.
Thank you for the question.
Barbassa.
We had a little bit of noise.
Yes.
I don't know how are the regional the regional question I'm, sorry was that correct.
Okay, we are not.
Seeing Eric.
And any specific markets, where my bigger or smaller recover your money.
<unk> is being done.
In a very linear way all over Brazil.
For us specifically, what you see here.
Gross.
The growth in the North East.
You mentioned that we've had last year.
And then we can only be used to happen this year.
And about the difference in Florida.
As a company in the northeast.
Higher level along with clarity.
Stores.
Service service up the logistics and the bank.
So if I read this recovery of the flow.
As it happened internationally.
Not one market or another that requires.
Highlight all of them have had a very strong evolution in traffic.
Okay.
Thank you very much. Thank you for your answer.
That's not something else.
Our next question comes from the interim.
From Bank of America.
So we've got to figure out if this morning everybody.
My question was up and they don't follow ups.
Chip I wanted to follow up on the marketplace.
Great.
Okay, Great and then the C. I don't mean Eastwood shooting recently.
Yeah, Yeah yeah.
I went back if you've noticed any impact in terms of new.
Sellers are sometimes another thought.
Pardon me.
I'm not sure if there's any additional difficulty of adding some color.
And how do you think about the dynamics in the rest of the year, how much has placed with us but they don't give you that that's it's a good thing.
Goodbye.
He is kept out the second question in these capital come with something something in in how Youre thinking about it cause somebody to what convinced you meant that you flagged in recent years, especially with the 900 million with who are coming to Florida.
Thank you for the question.
But he got Philipp your winter.
For the question.
We communicated.
With a review of ease at the end of December It was something I missed the first few marketplaces.
Positioning down to now because the scenario changed.
Andrew.
Growth from its profitability.
And in a sustainable way cause some movement that.
I used for that.
If all of them.
January we ended up with.
All of our stellar G. Eylea example, you could assume there's no details magazine borrowing is now.
E G.
The number of sellers.
140000 sellers.
And then growing them from a growing number of rescue.
I think movement grew in February even though.
Early in March.
We've overcome a thought towards America, when a company the market along with the rest of the hard work now.
But again.
Hum.
I don't have that off the debate I think numerous farmers became our profitability, we have something wrong numbers.
We we've reached with all of them good number of them others.
Okay.
Uh huh.
The investments there.
With the acquisition of <unk>.
Other fronting of opportunities without doing.
All of India.
Yes.
Great.
The labeling is collection.
All of this has been cooperating in our efficiency.
And then the possibility of generating when they come more incremental upside you might.
Generally it's Adam.
I don't know if it is the credit itself.
Promise made last year.
We're already operating today I'd just say on this one.
With a group of Australia.
Uh huh.
So you have to look at it yeah, so option credit.
Payment options here. This did you lose though we have.
So instead of solutions in their operation.
To keep growing.
Our condition may vary even to that.
At the.
Triangulation.
If you look at this point.
I suppose that's the hope.
With regard to the other businesses.
Thank you.
As far as the debt, which is coming due at the end of this quarter.
Oh gosh.
It's a debenture.
The debenture.
Contracted pheno senior with a pretty minimal.
The first wave of that matter.
Okay.
Well.
They use it hasn't Rev proud to do that.
We're doing offers.
Hi, Brett.
It was contracted at that time to my screen doors there.
Much more careful and selective.
So I understand this renewal Oh, I'm, having enough liquidity to liquidate that.
And it shouldn't be too much though.
I have several of them arent as much cheaper and much more long term.
Have you done this year.
All of these alternatives.
But some.
Be able to renew that we don't do it.
Ofer.
Yeah.
Sounds good.
70, or 80 person that Don mentioned.
So it will not affect cash flow how are you.
Our operating cash.
And a portion of it if we can reduce a little bit.
Liquidity and security that we've always worked your mid North coast.
The lower cost.
So we're very comfortable with that and we're seeing it carefully with that dog and maybe already been careful enroll them on their own choice.
Renewal.
But we have no problem.
Right. That's what I was looking for a large part of that liquidity.
Safety safety net.
We probably didn't have a problem.
Our next question is from Gabriela Borges from at the old Baby I that'll be D. A.
Thank you for taking my questions.
On our side here, we have one question related to the restaurants.
Must be impacting your chance.
Hi.
So we're in constant conversations about.
Eventual.
The increases there.
Especially for durable goods.
Since you have the capacity of the.
Observe these increases in price.
So I went to big ticket item.
The next question is.
The conversation has been going on well costs back to the biggest part of the impact has already happened.
A lot of things that are titled to the dollar and laugh at us.
The rise in the dollar.
That was passed we have an expectation that you meet them.
Lot of that will be more positive in terms of reduction.
With the dollar going down, but it's still on the table and bought them.
So there's possibility is still remote for now.
We don't see any big impact with Us Tonight.
Thanks.
Yes.
But the most relevant in fact.
Pieces have already happened.
How is that tumor.
While dealing with that exactly Sofia.
We have a bad message because we haven't.
So we're able to make it more adequate.
Adapting.
Number of payments.
The item and.
Creating a payments monthly payments.
He thought that both consumers.
And then just for a long time.
Isn't it.
Alright, well somebody we've.
We've been.
Carrying a higher level of inflation on design.
Got it.
What also happened.
As Allison mentioned.
I know, there's sort of a three P I G.
It's been.
Growing the penetration of the credit offerings.
Very recently.
Last year as a starting point, we already see an important results.
An important tendency.
I'll meet you.
Eventually.
It may have the same item.
Different platform.
But from a VA has the possibility of doing this you got to put them in a financial way.
Credit in our finance way with art drone.
Brett.
Thank you very much.
Thank you.
Thank you. Our next question is from from Goldman.
Goldman Sachs.
Further.
Hi, everybody and thank you for the chance to ask my question. Your first question is going back to the SG&A that was helpful.
And I would like to hand over a little bit more about that.
Medium to long term.
It was macroeconomic because he macroeconomically challenged.
Oh gosh.
Awesome.
Can you imagine that going forward.
On the online.
Growth in the online sales in the marketplace.
This margin.
Actually left.
Or do you think that going forward.
But I'm not you know perhaps.
Going forward. He he couldnt do you have an idea.
And yes, he wound up with this growth.
My second question is a little bit more.
Yeah.
Ratio of the portfolio and how it is right now.
The average duration of the banking portfolio at this time.
Sorry.
Thank you for the question so that's the journey.
As far as SG&A, some time ago.
Are they just saying we're absolutely focused.
I've always been absolutely.
Expenses seem to make it more protected.
Without ever hurting the level of service to a consumer Amazon sort of so we've been doing.
We continue to observe this.
About a quarter or.
Sure.
So for example, first quarter at all they're not cheap, but we were able to utilize the alternatives.
Less money.
Got him in one attractive customers.
With a lower cost of acquisition than we had seen in the past wildlife you spoke to this.
It will be situated.
Yeah, maybe measuring this every quarter.
Whenever we see an opportunity to see everything that we're building on the platform that there'd be a platform at the end of the day part of it is true.
So the cost of the plant.
We are very good assets you'd want your lines to reduce these costs as a marketplace is a great asset for reducing our acquisition costs.
And if.
Have you seen the number of orders 100%.
So we're just getting.
More and more havoc.
Navigating it.
Whether it be online or in the physical stores are really online sales people.
The credit offering.
Iraq is Arthur back with you.
Our planned acquisition with a negative logmein is a pretty job as we scale up even more of the credit offerings.
More and more plant acquisition.
Zero.
To acquire these bugs Bunny.
And the bank you also continues.
To be an important factor.
As long as ours alone we opened the hundreds.
Last year the first one.
Five.
These are absolutely new client for us.
15% of our reactivity.
But I've been reacting to all of this tomorrow.
Tomorrow.
Got it.
It will be evolving and growing.
Keep yourself.
And we have the reduction of contract.
The goal that we have about four months.
Platforms, you might have thought.
Yes.
Go away corridor by corridor.
At the beginning we have to add a little more in that debate.
We may be able to drill down, but always with the direction of creating which is more.
The first lesson.
I think a lot of money for client acquisition.
That'd be the dog.
Okay preserved growth preserving profitability.
Right.
Yes.
But at some point in time, we may have the.
It breaks a little bit.
Starts to appear in the next few quarters, especially right now my fault with the lack of liquidity.
Change in liquidity.
On a quarter.
All right.
There's a lack of liquidity in the market is much more limited.
Oh.
Where it wants to have a place in its liquidity.
Okay great.
Burning a lot of cash.
<unk> bye.
Great.
Oh geez.
First day.
The root of the lease.
Possible cast my boss Gulfport 5 million clients.
And more and more of them were being reactive what parts of the Greens Creek.
Reactivate.
Hello.
<unk> ran a good secondary.
All of the other expenses of the company with absolute.
Wonderful people.
Lot of Christian So, Illinois is hard.
But I think those are the new gold is the newer cartoons.
Because inflation is still under pressure.
Is there any strong.
Okay.
But everything there.
Empty.
A 17% Seattle.
Before it was just a physical sales force.
I have a client.
But now there's no fish.
Nicole.
Is it getting online so we gained a huge amount of productivity gain of a 100%.
Lisa.
Nor salespeople.
So that's the direction, we're heading with it yes.
Stan.
All of expenses is fundamental not only now but.
Constantly little.
What's up kilometers pass this over to Eric.
The guys here.
Hi, Thank you for the question.
International Pismo ugly.
Personal loan.
Hey, Margaret.
How does the credit world.
14, a mommy sued for a long time and the 14th for quite a while I think that essentially had mentioned out of the greenhouse.
You can see that our average.
Stable, even if we haven't had any need to increase the payment periods due to reduced non payment or anything of that.
The credit World is <unk>.
And in personal loans.
Okay, that's very clear thank you very much.
Thank you.
Next question Andrew Newmark.
Ali.
Yeah.
In English and we'll answer in port.
Thank you.
I was hoping if you could please talk a bit more about the gross margin trends, what youre seeing in promotional intensity across the industry and how you're thinking about price positioning for key areas in <unk>.
<unk> P category. Thank you.
Yeah.
Oh I was just wondering if I can.
We just got Lucky here.
I was just you've seen we've seen here margins possible, we've been working on margins on stable margins over the most recent quarter.
Well the pressure <unk> seem.
To be competitive.
Alright.
For several quarters shifts potbound mogwai understanding that it's.
Level of margins that we have today.
Who says compatible Boston witnessed scenario, which is very competitive in the market by orders, we don't know how much.
Understand.
Have any integration.
It can either meet your bank activity, we're very very balanced.
Maintaining the growth of the company for butadiene preserving this level of profitability.
We think that on the next quarter.
We'll have almost.
Profitability levels close to what we've had in this quarter and then these other recent quarters.
Yes.
But he got the whole battle.
Thank you Hubert.
Cool.
I also like to make a question.
Well that's going the other question was.
That most likely blah blah blah blah blah blah.
Pass it over to you for your comment was Gee we'd.
We'd like to once again, thank you.
What's the thought on this.
Happy that you like.
This quite productive.
You know ahead of time.
Focus.
Got it.
Maintaining the route.
So we're very open to mis.
How long ago, it always realistic.
Related to the return okay.
Sure.
Yeah.
Got it.
Our ecosystem, but also putting vehicles.
Always ready.
Perhaps I know for sure where she wants to attend this muscle during this journey was absolute control of our cost centers.
Okay.
For the coming quarters.
They were doing marketplace and the long tail of the market place.
Thank you all for participating in a hug to everyone.
Greetings to everyone. Thank you very much.
[noise].