Hypermarcas contains costs and profit rises 151% in the quarter

SAO PAULO-the company Hypermarcas consumption showed a net profit of r $ 102,3 million in the first quarter of 2013, with an increase of 150.7% in comparison with R $ 40.8 million recorded in the same period in 2012.
According to the company, the improved result is mainly due to the maturation of the initiatives that have been implemented aiming at greater efficiency, as the contention of selling expenses, General and administrative.
The company's net revenue totaled r $ 958,4 million, with growth of 6.8% over the same period last year. The company's Ebitda continued and discontinued operations, was $ 216.6 million, with 38.9% expansion. Adjusted Ebitda, which considers continuing operations before non-recurring expenses and other non-cash expenses, totaled r $ 227,1 million in the months of January, February and March, a high of 18%.
According to the report, the revenue performance reflects 10% growths in consumption and 4.5% in the pharmaceutical division. For the consumer area, the company points out that, if you consider only the expansion in major brands, the increase was 16.2%. Pharmaceutical division, despite the sell-in growth of 4.5%, the evolution of demand sell-out continued strong in the quarter, with growth of 27.3%.
The improvement in adjusted Ebitda is related to an increase of 180 basis points in the gross margin, which reached 63.9%, and a 310 basis points reduction in General and administrative expenses.
The company informs that kept the strategy of organic growth in the quarter, "despite the challenging context at the beginning of the year.
Analyst estimates
The company's results were above market expectations, according to a survey done by the value.
By the average of the projections of the Bank of America Merrill Lynch (BofA), Goldman Sachs and Itaú BBA, the company would have net income of r $ 86.7 million in the quarter. Hypermarcas, however, showed higher number 102,3 million Reais.
The adjusted Ebitda, by lifting with the financial institutions, would rise 10.8%, to R $ 213,3 million. The number released by the company was R $ 227,1 million.
The net revenue was in line with estimates. By the average of the projections, the recipe would be r $ 953,4 million, and the value announced by the company amounted to r $ 958,4 million.