Grupo Mateus (GMAT3) becomes a rocket and jumps 14%; Proved resilience and worth buying, says BTG – Money Times

Mateus Group
For BTG Pactual, it is time to buy shares in Grupo Mateus (Image: Grupo Mateus/Disclosure)

The results reported by Mateus Group (GMAT3) in the second quarter of 2022 were positive, with resilient growth, according to the BTG Pactualwhich recommends purchase to paper.

As a result, the stock closed up 14.6% to R$5.4.

BTG highlights that the Mateus Group presented another quarter of resilience in its operations, despite the more challenging scenario, with a slight improvement in working capital dynamics and a significantly better cash flow.

“We still see a prospect of high inflation eroding purchasing power (despite the potential positive effect with the increase in Brazil aid), but with a resilient scenario ahead for food retailers”, he says.

On the structural front, BTG believes that the company’s local knowledge and scale are important barriers to entry in some of the markets in which it operates, while its growth prospects look solid (32% CAGR line by 2026) thanks to its aggressive expansion.

In this way, the bank highlights that the sum of scale, local knowledge and a potentially better scenario result in the purchase recommendation for the paper.

Mateus Group numbers in 2Q22

In the second half of 2022, the Mateus Group reported net income of R$ 264 million, an increase of 38.5% in the annual comparison. Already the net revenue grew 39.7% in the annual comparison, to R$ 5.2 billion.

Adjusted Ebitda was R$353 million, representing an annual increase of 38.5%.

According to the company, in the second quarter of 2022, the retail segment recorded gross revenue of R$1.6 billion, an increase of 33.4%, representing 28% of revenue, while the cash and carry segment had a revenue of R$1.6 billion. $2.9 billion, up 47.5% year-on-year.


O money times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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