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Americans suffer a net loss of R$12.9 billion and debt reaches R$26 billion

After four postponements, and 11 months after the revelations of one of the largest accounting scandals in Brazil, Americanos released its 2022 balance sheet this Thursday morning (16). The retail chain suffered a loss of R$12.912 billion in 2022, compared to a loss of R$6.237 billion in 2021, according to the revised results. The group’s net debt was R$26.287 billion, an increase of 85% in a year.

The last balance issued by the Americans before the hole was discovered was for the third quarter of 2022, which was revealed in November last year. As of September, the deficit stood at R$447 million, six times larger than the same period in 2021.

The debt reported at the end of September last year was R$5.3 billion, five times less than the debt now revealed for the entire year 2022. The network reported this Thursday that it had short-term debt of R$37 billion and financial expenses of R$5.2 billion.

Recurring EBITDA in 2022 was negative at R$2.927 billion, while the company’s cash at year-end stood at R$6 billion and working capital at R$2.5 billion, a decline of R$1.2 billion. Net revenue was R$25.809 billion, an increase of 14.6% over a year.

With the data released, the priority now is to try to reach an agreement with creditors to save the retail chain. Financial statements are an essential part for creditors to understand American’s operational viability, comments one banker who will still evaluate the numbers, according to him, “with a magnifying glass.” One of the most interesting points is to look at the applications of debt and leverage levels.

Following the breach revealed on January 11, the publication of the 2022 balance sheet was announced for March. Then it was postponed to August, then October and then till November 13. In the early hours of the 13th, it was postponed again to this Thursday, the 16th. (estado contudo)

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