Sendas Distributor S.A. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Sendas Distributor S.A. has filed its 2023 annual report on Form 20-F, detailing its financial performance and corporate information.</b>

AI Summary

Sendas Distributor S.A. (ASAIY) filed a Foreign Annual Report (20-F) with the SEC on April 23, 2024. Sendas Distributor S.A. filed its annual report on Form 20-F with the SEC on April 23, 2024. The report covers the fiscal year ended December 31, 2023. The company's common shares are traded on the New York Stock Exchange under the symbol ASAI. As of December 31, 2023, Sendas Distributor S.A. had 1,351,833,200 common shares outstanding. The principal executive offices are located in Rio de Janeiro, Brazil.

Why It Matters

For investors and stakeholders tracking Sendas Distributor S.A., this filing contains several important signals. This filing provides investors with a comprehensive overview of Sendas Distributor S.A.'s operations and financial health for the fiscal year 2023, enabling informed investment decisions. The 20-F report is a crucial document for understanding the company's compliance with SEC regulations and its strategic direction in the Brazilian retail grocery market.

Risk Assessment

Risk Level: low — Sendas Distributor S.A. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain new material events or significant financial disclosures beyond routine reporting, indicating a stable operational status.

Analyst Insight

Investors should review the full 20-F filing to understand Sendas Distributor S.A.'s financial performance, risks, and strategic outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 20-F report)
• 2024-04-23 — Filing Date (Date the 20-F was filed with the SEC)
• 1,351,833,200 — Outstanding Shares (As of December 31, 2023)
• ASAI — Trading Symbol (Common shares on NYSE)

Key Players & Entities

• Sendas Distributor S.A. (company) — Filer of the 20-F report
• ASAI (company) — Trading symbol for Sendas Distributor S.A. common shares
• New York Stock Exchange (company) — Exchange where ASAI is listed
• Vitor Fagá de Almeida (person) — Vice-President of Finance and Investor Relations
• April 23, 2024 (date) — Filing date of the 20-F report
• December 31, 2023 (date) — Fiscal year end date
• 1,351,833,200 (dollar_amount) — Number of common shares outstanding as of December 31, 2023

FAQ

Industry Context

Sendas Distributor S.A. operates in the retail grocery store sector in Brazil, as indicated by its SIC code.

Regulatory Implications

The company is filing a Form 20-F, which is an annual report required by the U.S. Securities and Exchange Commission for foreign private issuers.

What Investors Should Do

1. Review Sendas Distributor S.A.'s full 20-F filing for detailed financial statements and management discussion.
2. Analyze the company's performance metrics and compare them to industry benchmarks.
3. Monitor future SEC filings for updates on Sendas Distributor S.A.'s strategy and financial results.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-23: Filing Date — Date Sendas Distributor S.A. submitted its annual 20-F report to the SEC.

Year-Over-Year Comparison

This is the initial 20-F filing for the fiscal year ended December 31, 2023, as indicated by the filing details.

Key Financial Figures

• $4.8413 — ate used to translate such amounts was R$4.8413 to US$1.00, which was the commercial se
• $1 — ranslate such amounts was R$4.8413 to US$1.00, which was the commercial selling ra
• $14,910 m — and debentures and promissory notes of R$14,910 million, of which R$2,067 million was cla
• $2,067 million — ry notes of R$14,910 million, of which R$2,067 million was classified as current borrowings an
• $12,843 million — nd debentures and promissory notes and R$12,843 million was classified as non-current borrowing

Filing Documents

• ea0201476-20f_sendasdis.htm (20-F) — 3924KB
• ea020147601ex1-1_sendas.htm (EX-1.1) — 140KB
• ea020147601ex2-6_sendas.htm (EX-2.6) — 249KB
• ea020147601ex4-3_sendas.htm (EX-4.3) — 34KB
• ea020147601ex12-1_sendas.htm (EX-12.1) — 9KB
• ea020147601ex12-2_sendas.htm (EX-12.2) — 9KB
• ea020147601ex13-1_sendas.htm (EX-13.1) — 4KB
• ea020147601ex15-1_sendas.htm (EX-15.1) — 2KB
• ea020147601ex15-2_sendas.htm (EX-15.2) — 2KB
• ea020147601ex97-1_sendas.htm (EX-97.1) — 40KB
• image_001.jpg (GRAPHIC) — 7KB
• image_002.jpg (GRAPHIC) — 13KB
• image_003.jpg (GRAPHIC) — 18KB
• image_004.jpg (GRAPHIC) — 15KB
• image_005.jpg (GRAPHIC) — 26KB
• image_006.jpg (GRAPHIC) — 6KB
• image_007.jpg (GRAPHIC) — 42KB
• image_008.jpg (GRAPHIC) — 1KB
• image_009.jpg (GRAPHIC) — 1KB
• image_010.jpg (GRAPHIC) — 1KB
• image_011.jpg (GRAPHIC) — 1KB
• image_012.jpg (GRAPHIC) — 1KB
• image_013.jpg (GRAPHIC) — 1KB
• image_014.jpg (GRAPHIC) — 1KB
• image_015.jpg (GRAPHIC) — 1KB
• image_016.jpg (GRAPHIC) — 8KB
• 0001213900-24-035414.txt (&nbsp;) — 16866KB
• asai-20231231.xsd (EX-101.SCH) — 245KB
• asai-20231231_cal.xml (EX-101.CAL) — 61KB
• asai-20231231_def.xml (EX-101.DEF) — 585KB
• asai-20231231_lab.xml (EX-101.LAB) — 1219KB
• asai-20231231_pre.xml (EX-101.PRE) — 621KB
• ea0201476-20f_sendasdis_htm.xml (XML) — 2933KB

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 120 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 120 PART II 135 Item 13. Defaults, Dividend Arrearages and Delinquencies 135 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 135 Item 15.

Controls and Procedures

Controls and Procedures 135 Item 16. [Reserved] 136 Item 16A. Audit Committee Financial Expert 136 Item 16B. Code of Ethics 136 Item 16C. Principal Accountant Fees and Services 136 Item 16D. Exemptions from the Listing Standards for Audit Committees 137 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 137 Item 16F. Change in Registrant's Certifying Accountant 137 Item 16G. Corporate Governance 137 Item 16H. Mine Safety Disclosure 139 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 139 PART III 141 Item 17.

Financial Statements

Financial Statements 141 Item 18.

Financial Statements

Financial Statements 141 Item 19. Exhibits 141

SIGNATURES

SIGNATURES 143 i Table of Contents INTRODUCTION Except where the context otherwise requires, in this annual report, "Sendas," "we," "our," "us," "our company" or like terms refer to Sendas Distribuidora S.A. In addition, unless otherwise indicated or the context otherwise requires, all references to: "ABAAS" are to the Brazilian Cash and Carry Association ( Associao Brasileira dos Atacadistas de Autosservio ); "ADSs" are to American Depositary Shares; "B3" or "So Paulo Stock Exchange" are to B3 S.A. – Brasil, Bolsa, Balco; "Brazil" are to the Federative Republic of Brazil; "Brazilian Corporate Law" are to Brazilian Law No. 6,404/76, as amended; "Brazilian government" are to the federal government of Brazil; "Casino" are to Casino, Guichard-Perrachon S.A., a French corporation ( socit anonyme ). Casino is our former controlling shareholder. "Casino Group" are to Casino and its subsidiaries; "CBD" are to Companhia Brasileira de Distribuio, a corporation ( sociedade annima ) incorporated under the laws of Brazil; "Central Bank" are to the Central Bank of Brazil ( Banco Central do Brasil ); "CVM" are to the Brazilian Securities Commission ( Comisso de Valores Mobilirios ); "xito" are to Almacenes xito S.A., a Colombian corporation; "Exchange Act" are to the U.S. Exchange Act of 1934, as amended; "Extra Transaction" are to the transaction involving the assignment and conversion of 66 commercial points/stores operated by CBD under the Extra Hiper banner in several Brazilian Transaction, see "Item 4. Information on the Company—A. History and Development of the Company—History—Extra Transaction"; "FIC" are to Financeira Ita CBD S.A. Crdito, Financiamento e Investimento, a Brazilian financial services company; "IBGE" are to the Brazilian Institute of Geography and Statistics ( Instituto Brasileiro de Geografia e Estat

Financial Statements

Financial Statements Historical Financial Statements We maintain our books and records in reais . This annual report includes financial information derived from our audited historical financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023, and the related notes thereto, which are included in this annual report. We refer to these financial statements and the related notes thereto collectively as our "audited financial statements." We have prepared our audited financial statements in accordance with the International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or the IASB. Our audited financial statements have been audited in accordance with standards of the Public Company Accounting Oversight Board. Translation of Reais into U.S. Dollars We have translated certain amounts included in this annual report from reais into U.S. dollars. The exchange rate used to translate such amounts was R$4.8413 to US$1.00, which was the commercial selling rate at closing for the purchase of U.S. dollars on December 31, 2023, as reported by the Central Bank. The U.S. dollar equivalent information included in this annual report is provided solely for convenience of investors and should not be construed as representation that the real amounts represent, or have been or could be converted into, U.S. dollars at such rates or at any other rate. Special Note Regarding Certain Operational Metrics This annual report presents information regarding our: total selling area; average selling area per store; same store gross sales; and average monthly gross revenue per square meter. We define total selling area as the sum of the selling area of each store at a period end. We define average selling area per store as the total selling area at a period end divided by total number of stores at a period end. Total selling area information and average selling area p

View Full Filing

View this 20-F filing on SEC EDGAR