Q4 2021 Via SA Earnings Call
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Okay.
Okay.
Coming up ahead well matched.
Let's start off with a Q&A session and I'd like you to them.
JP Morgan first question.
Joseph you can alright.
Hello, Good morning, Thanks, anything I didn't think the battle.
We have two questions that Shannon said.
And maybe it's more related to that it sounds like you had talked about the new strategy.
Hum.
Monetization of the marketplace, maybe and a little before than what we imagined and a 92 point.
How should we consider the Kenny take rate.
The second point is if youre expecting some acceleration.
In the ground considering to take great. Thank you.
Hi.
The second question I think in.
Okay.
Sure.
Most of that.
Okay.
Yes.
Related to the Monday.
Yeah.
Me too.
Okay.
Okay.
Okay.
Yeah.
Over 90 day LIBOR.
And going out.
Sean I wanted to know if you noticed any improvement.
When we get into the first.
Anthony to ask about you mentioned, we have a low.
With.
A greater demand.
The quarter. Thank you very much.
Would you prefer to debate hi, good morning.
Moving.
I don't know if you can hear me well none of the marketplace.
Towards that but he got the literacy must combine you asked about.
Thanks James.
About the same.
Yes, we did have one.
In California.
Okay.
So you can.
Our company outlook.
Thank you Graham.
So standby everyone unsustainable.
You bet.
In media.
Okay.
In the first quarter, we did not have a negative impact on you guys nausea and Theres nothing.
These processes are salaried.
And then.
Thanks, Sean.
We have.
Right.
Crowds in Chicago is marathon.
Okay.
Hello Angie.
Sure.
Sure.
We can make it.
Most of the mines.
No.
In an isolated way.
Complementary.
And the strategic for Jan just one P logistics and also the buy now pay later, thank you Jackie.
So helping to generate maybe nowhere.
That's my position cost, which is already a lot lower than the customers coming from.
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Helping with the activation of the first factor.
Oh, and then reactivating all the customers that went up by.
About 12 months and numbers are not a bank.
But we cannot really say that all of these indicators are already indicating an improvement in efficiency.
And I think that was the first question about the marketplace correct.
And now I'll leave the other questions Jack team. Thank you very much.
Okay.
How about can you answer the second part.
Yes, good morning, everyone and thank you for the question I'll start off asking about thank you. Thank you super important lever.
When it comes to customer conditions, not only with acquisition of <unk>, but also as mentioned.
We've already proven integration of bank.
Jamie as I mentioned the bank he can.
And also all of them.
We're a bank.
Thank you all.
With Jim D issue.
And finally, he is an important.
Mike.
What types of loans you've already got.
My name is Jeff Leiden.
And as mentioned as well.
Third party credit that won't be available.
And we believe that.
PNM question.
Susan.
Goodbye.
And I'll pause there.
I'll, let you elaborate I growth.
As announced in the past.
Oh yeah.
In regard nonpayment.
One of the first point.
Is that we're always focused on profitability is there an inflection point.
Our profitability is there.
It is and continues to be there.
I ask you will be stable throughout the entire year.
And in the fourth quarter.
Okay.
But this.
Monarch.
Good.
The cavalry.
In the past.
And we believe that all right.
Oh boy.
Yes.
Uh huh.
And what would you be stable during 2022 as well. Thank you so much for the question.
Thank you.
Yeah no.
Thanks for the question Bob.
Two presents alright, good morning.
Yeah.
Okay.
Thank you.
Could you open up your camera if you're hearing is all right.
Sorry, I had some technical issues.
And thank you for asking my question.
Uh huh.
The.
Premiums in that group.
And how are you.
About the service levels online and at the stores as well.
I'm, sorry, I missed part of your question Bob.
Good question.
The personnel cuts.
The layoffs.
The level of services at the stores and online.
I will give you an overview of <unk>.
Yes, alright so.
Let me give you some context about Pennsylvania.
Thank you Tien Tsin, you're wondering invested 1 billion in Capex.
Alright.
Acknowledged.
We.
Closed 100 stores.
In the fourth quarter 2019, and first quarter.
And Ian.
Oh yeah.
One news alright, thank you anyway.
Although we're not predicting that we open stores.
Our Chile project.
And are performing very well.
Another important point.
We have a natural churn of Ashford throughout the year.
So my sales teams.
It is.
<unk> thousand 200, yet.
How long does that last.
The normal turnover should we did not replace.
<unk> thousand 500 people that we hire.
Barry.
Yes.
Right.
Why do we do that well.
E Tailers normally.
Blue in productivity with the machine sales.
As part of our investment.
Our customer service.
Supported by data intelligence.
Yes.
Increased conversion rates.
Thanks, Joe.
On a quarter over quarter.
And even the performance youre, having throughout the year.
Okay.
Ethernet conversion for salary.
And then I can.
I'm going to say considerable.
The online sellers.
And can you keep it from me.
And they help us.
At a performance product.
So you don't have this situation with.
They are not having it.
Alright.
First of all when he got it.
Active anymore.
Through the online channels.
Sure.
<unk> contacted by them.
We have evolved a lot with our online platform.
Go ahead, and helping us a lot with conversion.
Demonstrated the numbers.
Okay.
And about 1500 people in the back half.
Hi.
At the end of the yes campaign.
No.
Dora.
Thanks.
Okay.
The relevant testing.
In logistics, we also had a major ablation endeavor.
At this time.
<unk>.
Find ability.
Our intelligence of having the right.
Did you provide a lot more.
Sure.
Last mile problem.
Understood.
And just also generate a lot of productivity and team we already had.
James.
And product.
Hi.
And the sales.
Sure.
Which is really based on the movie.
I will now have an opening.
A lot more productive and also all of the intelligence.
That we were able to add on.
The number of the technological evolution of the platform as well.
That's very clear. Thank you so much thank you Bob.
Yeah.
Well, thank you Bob.
First question.
Johnny.
I can hear from Ed.
Thank you Jay.
Yes, thanks for joining everyone.
Two questions.
I loved about SG&A and personnel.
On media.
Awesome.
Hi, Sheila.
And I imagine that this one off impact of.
Labor expense.
How should we consider this cost line.
Joe can we get to see them.
Mike.
Maybe you had your new pricing impact in the quarter as well.
That were maybe not.
Never mind related.
Okay.
Some of them in the first quarter you normally have.
It's a bit polluted hazardous so I wanted to understand the dynamics up ahead.
Thank you Kevin.
Jonathan.
Cash generation I think it really called out Ken.
A big part of this.
And I wanted to hear.
I understand.
Perfect.
Sure.
The buyers are just phenomenal.
Thank you Brian .
Selling.
Hello My complaint.
Challenging dynamic in the market.
Wanted to understand a bit more on the motivation behind that.
And then I wanted to ask you.
And about the future.
Then a final point here about zelman.
We already have many families are already ready to use.
I wanted to understand.
Seven.
And you can answer it.
Also about E.
Open Ocean.
Well that you like the beginning of the year that'd be really interesting as well could you give us some more visibility on that.
I'm going to cover that.
First point and then <unk> also Ken.
And just about productivity will happen.
That is free.
Thanks.
Just got one chip.
Yes.
Sales of furniture and the address.
Which is the strongest.
And when that is.
As you know was the strong productivity gains.
Thank you Rob.
We moved one Smith and we continued to have a production volume.
And capacity production.
What we had before.
About opportunities.
And Bob.
We know many of the evolutions, we hadn't brought in major expense reductions and an improvement of the level.
And.
This is available to the entire company.
And the 600 million that we invested.
And technology investments in 2020.
We've been reaping some of those analysis evolution.
And we have.
Great.
Okay.
Controlling expenses.
You'll have more to read and react.
Thank you.
Reductions in expenses I love the productivity in the evolution of our platform.
So the answer about expenses, yes.
Even more.
<unk>.
Thank you for your any guidance and I can't give you guidance about it yet.
In regards to where we'll be landing in regard to why.
Sure.
Yeah.
This evolution is helping US also have a readout.
Actions of recognition.
Yes.
You have many different fronts.
Sure.
The marketplace.
Thank you.
George has the cheapest.
The new stores for example.
Because of the recognition of between 16 and 18 yacht excuse me low and these are new customers that come in.
Armed with all of the.
Vertical.
About cash generation you were talking about the supplier.
Anthony now E.
Doug do you worry about this.
But I don't know.
A.
Jana.
So we had in a big international asked in the beginning of the pandemic.
Due to a bigger.
Okay.
Hi.
And then.
Yeah, Mark again universities.
And we understood that we're at a moment, where we can.
Great.
Many of you already.
Already normalized starting to be normalized and Theyre right.
And as Ian mentioned.
Our inventories are really healthy.
No need for some provision for an injury because actually we're talking about selling more buying a little less inventory here at home is really good action.
At the same time.
Correct.
Deadlines with suppliers.
Adam situation.
Add in.
It's come to bond.
As we continue to shine.
And also following this path.
And we were able to do it.
Well with industry.
I believe we are.
Oh pathway.
Absolutely I'll pass it on to <unk> is also they can complement this.
Okay. Thank you very much better.
Any questions, Kevin and Jason Yeah.
Asking about the operational.
Operator.
Logistics.
Tim.
They try to rescue discipline.
I'll talk about the commercial expansion.
I'd think about it in the past when we entered the company the first visibility.
Okay.
Sure Chris.
And occupancy in the being better positioned.
Positioned our inventory and network.
It is around the country.
It's brought in operational efficiency gains.
They have a quicker.
In 'twenty 'twenty mid 'twenty, one you had a lot more intensity technology working great.
This is giovanni.
Okay.
Greg many different questions that we need to work on.
There may be.
Having all of us.
We started the second page of the intensive.
This combination with Edison.
No.
Really.
Hi, Jeffrey Schnell improvement levels.
Thanks, gentlemen.
The infrastructure for what we call on them.
This as a service options to be able to operate.
Am I right.
The gentleman that was accelerated with the acquisition we announced in January .
Yeah.
Yes.
Mr Davis.
Alright.
Mike.
Yes.
And just as umbrella.
I think that's on the web.
And he will be able to add a little.
How you can add sellers.
Sure.
That's right.
Sure.
Yeah.
Yeah.
Okay.
Yeah.
A month ago.
Okay.
Uh huh.
Okay.
Sure sure.
Yes.
Sure.
Okay.
Okay.
Yes.
Yeah.
Most of the marketplace.
Matt.
Uh huh.
Yeah.
Sure.
Please.
Yeah.
Yeah.
Yes.
Thanks.
Yeah.
Sure.
Jeremy logistical.
Yes, we have.
In some cases more than nine customer churn TMT moving on to the VM market.
And almost 30 customers.
And this new contract migrating to our structure and inaugurating.
Revenue contract.
And then we start all of the integration connection and Onboarding of the.
Customers on their product.
Let me take advantage of this opportunity and I want to reinforce one point about the potential business had when it comes to NPS.
We have some information.
From competitor Anthony.
That one again strength Amit.
So we have actually.
Listen with all of these transactions in the marketplace.
Already closed.
What the average age for one.
And also we were.
More than that.
We have some brands.
Yes.
Our relationship with different needs to be.
Looked at me and system that has an important role.
Generating browsing.
Partner.
Especially reinsurance in your customers.
And I don't know me.
As we consider.
A quick summary of altered.
Talk to some seller.
We're not at PNG and yet.
No.
All in our marketplace.
This is a recurring question.
<unk>.
Uh huh.
Oh.
Heavy duty.
I'll bet with heavy duty items and I'll work on that.
That's what I thought.
But it gives you.
<unk> been very Sachin.
Okay.
The last one.
Okay.
Operation as well as when the orders.
Environment about journalism for your answers. Thank you very much.
Is there any now.
<unk>.
Thank you Matt.
Open Irma you may submit your question.
Good morning. Thank you for answering my question. Thank you Bonnie. Thank you go back to think about it.
Hum.
I want to ask you about the future.
Hmm.
And I wanted to talk about the future I think we're almost headed towards the end of the pandemic and you probably noticed linear recovery and.
Customer traffic into the store.
No you opened many stores you talked about the commission costs.
Which is an important vertical the reason why companies open chart.
But how have you seen the future of the stores.
Right.
Okay.
Maybe you'll have some more closings in the future.
Fabio.
Maybe the store format in the future will be a little different.
And maybe if you could talk about how you've seen the recovery into mark with Dan traffic inside the stores. Thank you very much.
Oh boy.
About thank you for that question, we've already identified.
Alright, I'll start here.
No sorry, not the traditional startup pro farm sales.
Okay.
For customer relationship.
Whether that's J involves products or financial services.
And then to be able to have them.
Cash out.
Thanks.
So the stores that the logistical hub.
Parts of it.
The last mile.
Online is delivered through the store and this generates.
Cost reduction.
Processes.
Yeah.
And we've been beefing this and demonstrating this.
Also for customers to go from the pick up in store option Jay relevant when it comes to the online sale.
Our online sales.
Our base at this time and are online.
And they interact with all of Brazil.
Uh huh.
And it's really an important factor for new customer acquisition.
Yes.
Yeah.
Okay.
And the online seller also has a big potential to recover customers that are inactive.
Villa has a base with over 90 million customers and now we are more we have more and more intelligence.
And the online sales reps are empowered with added to be able to interact with this base.
They have been scaling up.
In sales over time.
Mitch Thank Andre we don't believe George where there's strength, we believe that more and more omni channel approaches.
Customer data they will have.
No.
And at the moment.
So we're going to be ready for all of my journey with a major pressure, taking factor, which is having to start supporting or just.
Something that in Brazil, and it makes a huge difference.
The difficulty and logistical costs.
Uh huh.
We've been adding a lot of intelligence.
Many algorithms.
<unk> of product.
The advantage of the inventory.
So becoming more precise when customers.
Or just items are very close to the last mile. We've been advancing a lot in this.
Now we start getting this is slow for three P C.
Also have this level of intelligence.
Through Zelman.
Parties will also be able to.
And so whoever.
Without being present and I'm like it.
In the NGL logistics just to provide.
Services also have all of our 1100 stores as a distribution point.
In Brazil.
So weakening.
And at the stores fundamentals when it comes to the reduction of <unk>.
One theory is not a reduction.
It can be.
Richardson.
It's of course always fine.
Wanted to just IP.
The size of the product.
Uh huh.
So once again, we entered starting to reap innovate accelerated manner.
The benefits of <unk>.
Two years.
Investments in technology and infrastructure.
<unk> been working on.
We all have more accurate REIT industry.
And <unk> seen a level of productivity from this quarter is still a little bit better than what we've experimented in the past we have a lot more technological evolution.
It will happen this year, which is going to unleash the company's value.
Thank you very much and maybe a second question about some of the pressure that I believe is jabil being relevant in your supply chain and will continue with everything that's going on in the world How have you talked to.
Two hires about future.
E D.
Right.
And how have you seen.
Daily capacity.
<unk> absorb these increases.
As you know we've been operating.
With a bigger tam than conventional chime and part of our cycle. In this semester is already planned together with one.
So on one side, we have some pressure about what's happening around the world.
And on the other hand, with a dollar value going down in Brazil, which reflects the impact that's so relevant in our assortment.
And we haven't seen any more any critical signs when it comes to the supply and prices in the nation.
We also had some important mechanisms.
Generally yes.
Yeah.
For example, <unk> so many of the items that had increases from.
Jenny Jenny.
All the way here due to everything that happened.
We were able to keep our consumption.
And demonstrate.
Demonstrate sale.
Sales in my checking that are really connected.
Ask me that we have.
These items then.
And this increase through the opt in payments.
Each point.
With our fleet.
Revenue for <unk> in these gentlemen have a sense of humor.
So we can maybe increased one more instalment of the average funding and the customers we haven't done yet.
So far 100% of sneak in 100% of the project.
Embedded in average September we already had.
We still have this.
So I think we have some important mechanisms here to continue to grow our market share and gain market SBS about this year next year as well.
Perfect that's very clear thank you very much.
Hmm.
Let's move on.
Bradesco you May proceed thank you and good morning.
Good morning, everyone I would like to know about it.
Okay.
You mentioned on page 10 of your presentation, a lot of legal information data and if I understood correctly of 92% of GDP.
Uh huh.
And our ratings.
Yes.
Yes.
Now the 24 hour delivery.
Only represent 25% of your orders if I'm wrong.
And it was 21%.
I wanted to understand how you are reducing the gap.
Indications are indeed have Andy.
The actual penetration.
Jane for shipping.
Thank you Richard for the question will start and then I'll pass now thank you.
Wanted to add an inflection point.
<unk>.
Long.
Right.
97% of S Levan.
That will be agreed upon with.
Not only do customers want to receive.
This is important.
Please go ahead.
Not necessarily.
Customers have to be scheduling home.
Those products have are Valerie.
Being able to lever in the period.
And when.
When customers want.
This is more important.
In a certain amount of customers that you need to receive in the specific amount of hours or they're not always available to receive product.
But I'll pass this on to surgery and he'll add onto this as well.
Good morning, Thank you for the question.
Yes, that's correct.
Correct and maybe the material wasn't as good.
Awesome.
Got it.
Bart.
That's the biggest farm and so we are more than 40% and 24 hours when you add this.
There may be the Graco, Inc.
Clean air.
Hi.
We.
Really have we focus on.
Also our precision.
And what customers right.
And here I want to highlight that would be maybe a little bit repetitive or talking about all of the municipalities in Brazil.
Judy item.
Really 100%, we work and operate.
All of that there is element of heavy item just a question.
The initiatives that that just makes them together with technology.
We have been providing hadley.
The final objective of getting control visibility in the supply chain works against you and the delivery time.
Visibility for our customers as well.
So I think we've already mentioned.
The work with demand planning.
And providing jobs correct positioning of inventory.
All right.
Uh huh.
The capital of the company is in a network of choice.
So you can imagine.
Sure really alright.
Sure.
Where are we.
Or not necessarily.
Turning to the store assortment, but there could be delivered and service customers online just makes a ballroom.
Neither defined to be at the store are all based on a lot of data.
Vishay.
Alright.
He's been working a lot on.
Search for greater levels of.
A quick responses and quick deliveries to our customers once again all of them.
You've met you've seen that over time in the past two years.
Relatively.
When you consider that.
Well.
With MSA.
We were able to use our infrastructure a lot better so compared to other peers, which means that we had to invest a lot in China.
Thank you.
One final.
1 million square meters and we have.
One 5 million remedies in Florida, So that you have.
Mr Xie.
Two increased.
And then you also have.
Yes.
Another point I think it's important to highlight which is true.
Well I mean, our network O'brien here.
A network.
Our infrastructure of Dcs and stores and should not affect the cross docking zebu transportation company.
Which gives us more visibility speed and control, which is what we call our own network and.
I just wanted to reinforce the Shirley.
Thank you.
Feed in our control and it will continue to grow in the next quarter.
Contributed a lot to our speed of delivery.
The relationships with our partners.
Hum.
We have been.
Incentivising.
It's a lot better and penalties without services.
Nick.
With good logistical services delivery and precise debris.
The NPS recurrences and customer satisfaction.
Perfect. Thank you very much if I could just give you a quick follow up.
Hi, Julien.
And about the SG&A Lucky.
I just wanted to follow up on the G&A you talked a lot about right now in stores, but.
I wanted to know about the G&A that you could maybe give us a little more color on how you've been.
Has that come down on these G&A expenses.
Okay.
Yes, so good morning.
Thank you for that question can you hear me alright, yes, I can.
With me in.
RPC.
The comparable we have.
Eliminate last.
Yes.
And last year, we had a special compensation related.
Conditions in this year.
We do not have this special compensation.
Sorry, we.
Okay.
That basically led to this effect.
I think at all.
Audio.
Yes.
You cut off a bit but empty end of your message.
Maybe repeat by Julia.
Yeah, let me repeat.
2020.
In the first quarter, we had a concentration.
You too.
Related to variable compensation in the company.
At over 1 billion in results at yes.
Yes.
This quarter. The result has been negative.
The company.
Robin was up for the negative should we didn't have the same level.
Yeah, and so that's why.
When you combined effects.
Lee.
The reduction.
Okay.
Great. Thank you very much Virginia.
Okay.
Thank you for that question.
Hi, Reuben.
And that for US next question.
That's up to the bank.
Hi, everyone.
My question is could you talk about how you're performing.
Now the good news here, especially in the stores and also in the online channel and a second question about Capex.
Looking at the entire context.
Two weeks.
Should we consider the maintenance of these novel genuine or reduction if you can talk about this topic a bit if you've already defined it. Please.
Thank you Helane, thanks for that question about.
We had a month of January is Lamar comprehended in the physical stores, we still had a major absence.
No.
Sure absolutely, Ken but February start getting better significantly better.
In March we continued to have men.
So really.
Maybe too many cars than CMV.
B Lowe the physical stores after the Chinese for February .
In cat.
Online we've seen good performance.
Beginning of the year, we've been performing well.
And there is little more complex than.
Very good profile.
About your question.
Okay.
Thanks.
We will continue.
Our launch plan about 80 in 100 doors.
Hum.
Evolution of the platform.
Hi, guys.
The company, so we should probably see some.
Or is it a similar in the Capex.
We've been doing in the past.
Yeah.
And we do have lot of value to our nature.
Based on this evolution of the platforms that we have to be working on this year.
Excellent. Thank you very much.
Yeah.
Thank you.
And our last question.
Mr <unk> from Citibank.
Or are you finished with your question I wanted to mentioned, we're gonna re circulating a quick to react call.
Okay.
Great.
The format of the call.
And with video we posted yesterday as well so you can answer that if you.
You May proceed.
Great. Thank you Danny.
Thank you.
Good question Eric.
First one is a follow up if you could maybe talk about.
Yeah.
The behavior.
And what are the improvements you've been noticing when it comes to customer calls in February and March and these improvements you mentioned the behavior.
And which categories are reacting better.
Can you give us a little more granularity on this and the second question is a little bit.
Alrighty.
Oh, sorry.
Router how by itself.
Can you just discuss many efficiency gain improvements in productivity.
You've been cheapening.
Because my physician calls and there's other Epsilon really helped.
The profitability of a business. So I think one of you sound a bit about kidney already when you look at China Jimmy Choo.
What are you going to do with all of this productivity improvement.
You said that there's other opportunities still.
In regard to efficiency.
These actions so how can we translate this into a growth.
Growth in the company, maybe reinvesting opex once again.
To be able to really leverage growth again, I think that's the main point. Thank you.
Thanks, John for that question.
About.
The slow in the store.
Customer traffic.
Not likely category segments.
Standing out.
We're performing very similarly with.
Segments and categories.
Okay.
At the start of the performance of the market place is also doing really well.
Online sellers, so I can't give you information about each category.
I can say is that the buy now pay later.
This system continues to be a major differential in complex near competition.
The advantage we have.
With credit granting and our own preparatory system on the intelligence that we've acquired in the past exactly.
Really gives us a major differential at the moment, where you have a bit more complex.
Andy overall, the narrow market. So that's what I had mentioned about consumers. So there's no like specific category.
That is a drop.
And then when you come to.
200.
I'd say that the company.
Yes.
We really dedicated gained market share ever since the day, we made it very.
You know that we would.
The farm in Paraguay transformation.
Stopping there.
Home appliances, or electronics, and there would really be transformed.
Into a major I suppose.
Bringing customers.
From many different vertical.
At the moment, we've reached now is that the verticals are really connected to our ecosystem.
And when you start bringing in a lot more customers buy.
<unk> also brings a major customers and now here I have two important and.
These are new customers with very low customer acquisition costs.
And the market place.
We will look we look at the marketplace not.
Jim Z, but the biggest Jim.
When the market.
It's really in the categories, where we're destination at one.
Strengthen one P. Even more we're going to search for even more market share in the marketplace, we're going to look for the long tail on that assortment.
See with Penske and over time.
Sure.
From the customers directly.
The need is spend more money in bringing this.
So a lot of customer acquisition cost reductions and increases in the lifetime value.
This call for love it for everything we're doing in logistics. So we're working on all of us growth and market share gains yes.
Without losing O'brien, that's actually went up.
And as Al mentioned, we're pushing for even more NPS.
So.
Hum.
And drink with Goldman.
And we're really coming into it and make money were not just to improve the level of it.
And the marketplace, we have the clear awareness and consciousness that we can monetize.
Even more.
I'll bet.
We have with very low levels of investment.
And we can get there.
There are other opportunities that can be careful with.
With logistics services as well and then the journey of the motions is a whole new world events and logistics available.
Everyone. That's not in our ecosystem. So we have a lot of revenue and <unk>.
Can you capture.
Yes.
Well, we've been working on all of this without giving up on margin.
So far we have not.
Throw money away.
Gross but when the company become even more profitable and you have the possibility of many different protocols.
Our vertical.
We have the big bids.
Shades of gaining market share without needing to give up on profitability.
More and more profitable company and maybe if we can.
A drop in margins that will have the necessary.
We did this because they'll have profitability levels.
Before I wanted to just you were working on now with our logistics and also wants to buy now pay later as a service that will be available in the second.
Quarter on.
We have profitability potentials that are really important.
And if we need to.
Do anything more aggressive.
We'll have more ammunition than what we have now.
So far we have not need needed we.
We continue to grow at nine.
We are gaining market share growing above market level without having to give up on profitability.
Right.
Do you consider any range you could share with us in the market about what youre considering when it comes to EBITDA margin is it more of a long term margin.
I think we.
I've been at.
<unk> levels that are pretty constant for EBITDA.
You should see something close to what we can make.
For the future.
Again, we are starting to occupy the other vehicles so.
I think give you guidance yet.
We really are starting off with me.
The ability of the verticals with credit as a service because the service.
So there's other things to come from these vehicles.
Thank you that's clear.
Yes.
Mhm.
We have another follow up here with a question.
Yeah.
Thanks.
Thank you Tony for my second question is yes.
Just about the head count on.
Yeah I agree.
It is an important mission tax hum.
How much this represents and do you think that retailers are going to be able to.
And they're gonna transfer price or do you think theyre going to use this to recompose apart.
Well, Jonathan whenever that happens.
The price charged for retailers searching for more sales and in this case.
We are sticking with it.
Yeah.
Jackie.
Thank you.
It's an opportunity.
Average ipi in the category, it's about 10%.
This represented a reduction of about maybe 2% to 4% depending on the category.
And so it is not something that is extremely relevant.
Yes, we will use to.
To be more competitive.
And even more sales to the ecosystem as a whole.
Perfect. Thank you very much overdue.
Thank you Richard.
Thank you everyone.
Oh I just want to remind you we're going to be.
A quick survey.
And what you've thought about this.
And we'll ask about performance final comments.
I think I already mentioned this but I hope youre liking this new method, where we uploaded the presentation before as they have time to review and watch everything Shlomo.
Protective also for your time.
And I want to thank everyone for their time I had my final comments I wanted to thank you for being here.
The call and risk being interested in the evolution of <unk> UBS. Thank you everyone have a great day.
Goodbye.
[noise].