Mateus Group becomes Brazil’s 4th largest food retailer

RIO DE JANEIRO, BRAZIL – Mateus Group (GMAT3) is now Brazil’s 4th largest food retailer, a feat achieved in 2020, according to the official ranking of the Brazilian Supermarket Association (ABRAS), in a statement released by the company on May 20.

The exceptional result posted by Mateus Group last year was crucial to achieve such a position, amid a competitive scenario and strong growth in the supermarket sector.

In 2020, the company posted a record gross revenue of R$14.4 (US$2.7) billion, representing an increase of 45% compared to 2019.

In the first quarter this year, Mateus Group posted net income of R$157 million, a performance 53.9% higher than the same period last year.

Despite the impact of the second wave of the coronavirus pandemic, the retailer maintained its steady pace of store openings, with 11 units opened in the period.

It also posted a net revenue almost 40% higher than a year before, with a 10% increase in same store sales (those in operation for 12 months or more).

It is worthy of note that, considering companies with national capital and/or control, Mateus Group is the largest food retailer in Brazil, evidencing the solidity of its operation in the states of Maranhão, Pará, Piauí, and Ceará.

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