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ASSAÍ REPORTS ANOTHER STRONG RESULT, AND CLOSES THE FIRST HALF OF 2024 WITH R$ 35.1 BILLION IN NET SALES

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SÃO PAULO, Aug. 9, 2024 /PRNewswire/ — Assaí Atacadista (ASAI), one of Brazil’s leading cash & carry chains, closed the first half of 2024 with net sales of BRL 35.1 billion, marking a 12.9% year-over-year increase and an additional BRL 4 billion compared to the second half of 2023. This strong performance reflects the maturation of newly converted stores and a 2.9% increase in same-store sales. Quarterly net sales reached BRL 17.8 billion, up 11.8% year-over-year, contributing to a reduction in leverage to 3.65x. Assaí operates under the cash & carry model, similar to Costco, where “everyone shops, regardless of social class,” but without requiring membership.

Since 2021, Assaí has expanded its business by acquiring strategic locations in densely populated areas of major cities from another Brazilian retailer. This strategy has reshaped Brazil’s food retail landscape, increasing the number of stores from 212 at the end of 2021 to 293 today. A pioneering move in Brazil’s cash & carry sector has been the addition of services such as butcheries, delis, and wine cellars, which now feature in 80% of Assaí’s stores.

“We closed June with new units, improved profitability, and reduced leverage, further solidifying our presence nationwide.  Assaí is now present in 1 out of every 4 Brazilian households, and we plan to continue offering competitive prices with modern and innovative stores, strengthening our leadership in Brazil’s cash & carry market,” said Belmiro Gomes, CEO of Assaí. In the second half of 2024, Assaí plans to open 10 more stores, reaching 300 by year-end, while focusing on reducing leverage to below 3.2x, reinforcing it’s commitment to sustainable growth and value creation for shareholders.

The company will continue investing in its “Meu Assaí” app, which already has 14 million registered users—an increase of 1 million in the last quarter. Additionally, Assaí is launching marketing campaigns to celebrate its 50th anniversary.

About Assaí

Founded in 1974, Assaí operates under the cash & carry model, similar to Costco, where “everyone shops, regardless of social class,” but without requiring membership. The company serves small and medium-sized businesses, as well as end consumers, offering products in large volumes at competitive prices. With over 290 stores in Brazil, Assaí serves more than 35 million customers and holds a market share exceeding 30% in the segment.

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Representatives from 57 countries, regions and 6 international organizations, are gathering in Suzhou.

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What important topics are they discussing about? Let’s find out!

BEIJING, Sept. 22, 2024 /PRNewswire/ — I’m Xiao Lin from National Immigration Administration. On September 9th, the first Sub-Forum on Migration Management Cooperation was successfully held. Representatives from all parties expressed their insights and appeals around the development and innovation of migration governance.

It was truly a content-rich event!

Why does the international community focus on the topic of “Migration Governance” so much?

At present, changes unseen in a century is unfolding at a faster pace. The situation in the wider world remains complex and fluid. However, peace, development, cooperation and win-win results are still an unstoppable historical trend. Migration governance is critical to economic development of individual countries, global security governance and international cultural and people-to-people exchanges. It has increasingly become a key issue in global governance.

Here are the key points:
At the forum, NIA made three commitments: implementing more open policies for the cross-border flow of people, more effective actions in the governance of transnational crimes and more extensive global cooperation in migration governance, injecting new impetus to opening up and development; At the same time, three initiatives have been put forward, [Original scene of the initiative] contributing China’s wisdom and solutions to global migration governance and further showcasing its image as an open, confident, secure, and thriving major power.

Representatives also made keynote speeches, sharing their migration governance policies, measures and experience, and providing their perspectives on regional and international migration governance.

Pooling wisdom for win-win results.

In a changing era, National Immigration Administration of China stands ready to work with all parties to promote global migration governance to a higher level and contribute more wisdom to world peace, development, prosperity and stability!

Video – https://mma.prnewswire.com/media/2512068/Video.mp4

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The 2024 Top 500 Chinese Manufacturing Enterprises List Released in Hefei

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The List Included 14 Enterprises Rooted in Anhui

HEFEI, China, Sept. 22, 2024 /PRNewswire/ — On September 20, 2024, China Enterprise Confederation (CEC) and China Enterprise Directors Association (CEDA) unveiled the 2024 Top 500 Chinese Manufacturing Enterprises list at the World Manufacturing Convention (WMC).

Leading the pack are Sinopec Group, China Baowu Steel Group Corporation Limited, Sinochem Group, China Minmetals Corporation, Hengli Group, SAIC Motor Corporation Limited, Huawei, FAW Group, Zhejiang Rongsheng Holding Group, and BYD, making up the top 10.

The threshold for inclusion in the 2024 list has risen to 17.062 billion yuan, marking a 512 million yuan increase from the prior year. Collectively, these companies have reported a total operating revenue of 52.01 trillion yuan, up 1.86% year-on-year.

Innovation continues to be a key driver, with the Top 500 investing 1.23 trillion yuan in research and development (R&D), a 12.51% increase over the previous year. R&D intensity stands at 2.37%, up 0.04 percentage points from a year before. These companies also hold 1.4937 million valid patents, including 717,300 invention patents, representing a 3.85% and 11.35% increase, respectively. The proportion of invention patents has risen to 48.02%, up 3.24 percentage points from the previous year. Overseas expansion is also on a steady trajectory, with the Top 500 reporting foreign assets totaling 7.29 trillion yuan, up 5.81% from the previous year, and overseas operating revenues of 7.13 trillion yuan.

Geographically, Zhejiang, Shandong, Jiangsu, Guangdong, and Hebei boast the highest number of companies among the Top 500.

Fourteen companies from Anhui, including Chery Holding, Tongling Nonferrous Metals Group, Conch Group, Sungrow, Anhui Truchum Advanced Materials & Technology, JAC Group, Gotion High-tech, Shanying International, Honglu Steel Structure, Tiankang Group, Zhongding Group, Gujing Group, Tongling Chemical Industry Group, and Tongling Jingda Special Magnet Wire, have secured a place on the list.

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Hyundai Motor and Škoda Group to Collaborate on Hydrogen Advancement and Energy Efficient Solutions for Mobility

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  • Hyundai Motor Company and Škoda Group sign a Memorandum of Understanding (MOU) during the Korea-Czech Business Summit in Prague
  • Both parties to cooperate in establishing a hydrogen economy and realizing a sustainable future mobility ecosystem
  • Škoda Group to explore hydrogen mobility expansion by adopting Hyundai’s hydrogen fuel cell systems and technologies

SEOUL, South Korea and PRAGUE, Sept. 20, 2024 /PRNewswire/ — Hyundai Motor Company and Škoda Group have signed a Memorandum of Understanding (MOU) to commence collaboration on establishing a hydrogen mobility ecosystem.

The signing ceremony, which took place at the Korea-Czech Republic Business Summit in Prague, was attended by Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor Company, and Petr Novotný, CEO of Škoda Group.

The MOU covers study on adoption of hydrogen fuel cell systems and technologies, study on adoption of energy efficient solutions for mobility projects and products, and exploring hydrogen ecosystem and value chain opportunities beyond mobility.

“Our partnership with Škoda Group aims to accelerate hydrogen adoption, which would contribute to the advancement of hydrogen technology and carbon neutrality across global markets, including the Czech Republic,” said Executive Vice President Ramírez. “Together with Škoda Group, we strive to lead the rapidly growing hydrogen businesses by creating positive synergies between our fuel cell technology and Škoda Group’s mobility products and projects.”

“We believe that hydrogen, alongside energy-efficient solutions, will play an essential role in transforming mobility for a more sustainable future. Our collaboration with Hyundai Motor Company aims at enabling us to look beyond national borders and explore wider markets where these technologies can have a larger impact. By working together, we can bring innovative, eco-friendly solutions to the global mobility ecosystem, advancing cleaner energy in the areas where it’s needed most,” said Petr Novotný, CEO of Škoda Group.

Both parties share the view that hydrogen will be a key pillar for a sustainable society, starting with mobility. As part of the MOU, the parties will explore the possibility that Hyundai would share its fuel cell system and technology, contributing to the acceleration of eco-friendly mobility across global markets where Škoda Group operates, including the Czech Republic.

Hyundai Motor Company and Škoda Group will also conduct feasibility studies for fuel cell system applications for diverse utilization beyond mobility. Leveraging its global expertise and insights in operating various hydrogen applications in both mobility and energy sectors, Hyundai is poised to play a pivotal role in aiding the energy transition.

Hyundai Motor Group is committed to building a hydrogen society under its hydrogen value chain business brand HTWO, which encompasses the Group’s businesses and affiliates, enabling each stage of the entire hydrogen value chain.

Hyundai Motor Manufacturing Czech (HMMC) in Nošovice, established in 2008, has an annual manufacturing capacity of 350,000 vehicles. Considered one of the most modern car manufacturers in Europe, the manufacturing plant was also the largest foreign investment in the Czech Republic.

– End –

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PDF – https://mma.prnewswire.com/media/2510891/Press_Release.pdf

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