Sendas Distribuidora S.A. (NYSE:ASAI) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET

Company Participants

Gabrielle Helu - Investor Relations Director

Belmiro de Gomes - Chief Executive Officer

Daniela Sabbag - Chief Financial Officer

Wlamir dos Anjos - Logistics and Commercial VP

Anderson Castilho - Operational VP

Conference Call Participants

Andrew Ruben - Morgan Stanley

Operator

[starts abruptly] during the call regarding business perspectives, forecasts and operational targets at Asai represent assumptions and beliefs of the company as well as information that's currently available.

Future statements are not a guarantee of performance. They involve risks and uncertainties and assumptions because they refer to future events that depend on circumstances that could or not occur. Investors, should understand the economic conditions in the market and other operational factors that affect the performance in the future at Asai and need to results that materially defer from those in such statements in the future.

Now, I'll pass on the floor to Gabrielle Helu, the Investor Relations Director, Asai.

Gabrielle Helu

Thank you and good morning, ladies and gentlemen. so much for participating in our earnings call for the first quarter of '23, at Asai.

I'd like to present the executives present here. So, we have Belmiro de Gomes, our CEO; Daniela Sabbag, our CFO; Wlamir dos Anjos, Operational and Logistics VP, and Anderson Castilho, Operational VP.

Before we start the presentation, I'll pass the floor on to Belmiro for his initial remarks. Belmiro?

Gabrielle Helu

Thank you, Gabi. Good morning everyone. I wanted to thank you all for your presence in the first quarter of '23. So, of course this is a quarter that is super important considering the last general shareholders meeting where we had a shift in the controller and now the company has no defined control. So, true corporation now.

And on the eighth, now we'll have the new board taking place. The board was elected in the last general shareholders meeting. So we have very skillful professionals that are going to help and support the company, during this transition period. So this of course helps us with the governance issues, but also contributing strongly to the business.

And Asai keeps this history of growth that's so high, over 30% in the first quarter, the total growth of 33% with an important highlight to the same store, the sales space. And so we had important contributions with the expansion in the stores that were converted. And so, so we have some important share gains of almost 2.4% [ph]. It was the biggest share as essay has ever had in all of its historical track record.