As filed with the Securities and Exchange Commission on April 23, 2024. Title of Each Class Trading Symbol Name of Each Exchange on which Registered Common Shares, without par value ASAI New York Stock Exchange American Depositary Share, each representing five common shares New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO S ...

Financial Approvals - The company approved its financial statements for the fiscal year ending December 31, 2023, with 756,083,540 shares in favor, representing a significant majority [8]. - The allocation of net profit for the fiscal year ending December 31, 2023, was approved with 878,012,148 shares voting in favor, indicating unanimous support [10]. - The overall annual limit for the remuneration of the company's managers for the fiscal year ending December 31, 2024, was set with 635,884,611 shares approving the proposal [16]. - The company's Long-Term Incentive Plan was approved with 856,389,498 shares in favor, demonstrating strong shareholder support for management incentives [30]. - The Executive Partner Program received approval with 659,862,016 shares voting in favor, indicating a commitment to enhancing management compensation structures [32]. Future Outlook - The company anticipates continued growth and operational improvements, although specific future financial projections were not disclosed [39]. - The company plans to expand its market presence and enhance its product offerings, although detailed strategies were not outlined in the meeting [39]. Governance and Leadership - The election of Mr. Enéas Cesar Pestana Neto to the Board of Directors was ratified with minimal opposition, reflecting confidence in leadership [14]. - The company received a significant number of abstentions on various resolutions, indicating some shareholder hesitance regarding certain governance matters [8][20]. - The company is preparing for its Annual and Extraordinary General Meeting scheduled for April 26, 2024, to discuss further strategic initiatives [4].

Financial Data and Key Metrics Changes - The company reported a 16% growth in total sales for 2023, with a significant increase of R$2.7 billion in sales during the fourth quarter [7][8][17] - The net income for the fourth quarter reached R$736 million, with a margin of 1.9%, while the full year profit was R$776 million, representing a margin of 1.2% [23][26] - Operational cash generation for 2023 was R$4.6 billion, an increase of R$453 million year-over-year [26][27] Business Line Data and Key Metrics Changes - The company opened 27 new stores in 2023, including 12 in the fourth quarter, bringing the total to 288 stores [8][9] - The number of tickets sold in the fourth quarter was 79 million, totaling 290 million for the year, indicating strong customer flow [11][12] Market Data and Key Metrics Changes - The company experienced a market share gain in the fourth quarter, with a 3% increase in sales volumes [9][10] - The company reported a stable inflation environment, with household inflation at 0.50% for the year [7] Company Strategy and Development Direction - The company is focusing on a conversion project to enhance its store network and customer base, aiming for a strong presence in mid and high-income regions [12][35] - The strategy includes improving service levels and expanding product offerings, particularly in butchery and bakery services [12][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the beginning of 2024, expecting a positive sales environment influenced by inflation and improved stock levels among B2B customers [40][41] - The company anticipates a stable gross margin moving forward, despite challenges in the competitive landscape [48][62] Other Important Information - The company has made significant strides in sustainability, achieving a 10% reduction in emissions and delivering over 480 tons of food to social organizations [32][33] - The company plans to reduce its investment levels in 2024, with only 15 new stores expected, which will aid in deleveraging efforts [35][36] Q&A Session Summary Question: Sales performance at the beginning of the year and expectations for B2B stock levels - Management noted a positive start to the year, with expectations of 4% to 5% inflation impacting sales positively, while B2B customers are expected to maintain cautious stock levels [40][41] Question: Drivers behind the drop in gross margin in Q4 - Management explained that the drop in gross margin was due to operational efficiency efforts and the impact of new store openings, with expectations for stable margins moving forward [46][48] Question: CapEx initiatives and expense management - Management confirmed ongoing initiatives to reduce CapEx and maintain expense control, emphasizing the importance of operational efficiency [49][50] Question: Performance of organic vs. conversion stores - Management indicated that while cannibalization was expected, the legacy stores remain stable, and the conversion project is benefiting the overall store network [55][56] Question: Competitive environment and growth expectations - Management highlighted the unique value proposition of the company in the competitive cash & carry market, with expectations for continued growth driven by volume rather than inflation [60][62]

Core Viewpoint - Investors are evaluating Sendas Distribuidora S.A. (ASAI) and VIZIO Holding Corp. (VZIO) for potential undervalued stock opportunities, with ASAI currently showing stronger metrics and a better outlook for value investors [1][2]. Group 1: Company Rankings and Earnings Outlook - ASAI has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while VZIO has a Zacks Rank of 3 (Hold) [2]. - The Zacks Rank system emphasizes companies with positive earnings estimate revisions, suggesting ASAI is likely experiencing a more favorable earnings outlook [2]. Group 2: Valuation Metrics - ASAI has a forward P/E ratio of 13.85, significantly lower than VZIO's forward P/E of 50.65, indicating ASAI may be undervalued [3]. - ASAI's PEG ratio is 0.66, compared to VZIO's PEG ratio of 2.03, suggesting ASAI has better growth prospects relative to its valuation [3]. - ASAI's P/B ratio is 4.04, while VZIO's P/B ratio is 4.56, further indicating ASAI's more attractive valuation metrics [3]. Group 3: Overall Value Assessment - ASAI holds a Value grade of A, whereas VZIO has a Value grade of D, reinforcing the conclusion that ASAI is the superior option for value investors at this time [3].

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Sendas Distribuidora S.A. Sponsored ADR (ASAI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Sendas Distribuidora S.A. Sponsored ADR is a member of our Consumer Discretionary group, which incl ...

Shares of Sendas Distribuidora S.A. Sponsored ADR (ASAI) have been struggling lately and have lost 7.2% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.Zacks has developed the innov ...

Sendas Distribuidora SA (NYSE:ASAI) Q3 2023 Earnings Conference Call October 31, 2023 10:00 AM ET Company Participants Gabrielle Helu - IR Officer Belmiro Gomes - CEO Daniela Sabbag - CFO Wlamir dos Anjos - Chief Commercial Officer Conference Call Participants Danni Eiger - XP Maria Cara - Itau Vinicius Strano - UBS Alexandre Namioka - Morgan Stanley Joseph Giordano - JPMorgan Chase & Co. Joao Soares - Citigroup Irma Sgarz - Goldman Sachs Group Operator Good morning, everyone, and thank you for waiting. Wel ...

Sendas Distribuidora S.A. (NYSE:ASAI) Q2 2023 Earnings Conference Call July 27, 2023 10:00 AM ET Company Participants Gabrielle Helu - Investor Relations Director Belmiro Gomes - Chief Executive Officer Danny Sabbag - Chief Financial Officer Wlamir dos Anjos - Vice President, Logistics and Commercial Anderson Castilho - Vice President, Operational Conference Call Participants Joseph Giordano - JPMorgan Vinicius Strano - UBS Danniela Eiger - XP Ruben Couto - Santander Joao Soares - Citibank Luiz Guanais - BT ...

EARNINGS RELEASE 2nd QUARTER 2023 CUSTOMERS FLOW INCREASES 25% AND HIGHEST MARKET SHARE WITH GAINS OF +3.6 p.p. Fast maturation of conversions and well-succeed expansion led to an EBITDA Margin of 7.0% CONVERSIONS PROJECT: ~90% CONCLUDED SALES: Sales growth boosted by conversions performance • 60 stores in 12 months: +34% in sales area R$ 17.6 bn Record flow: • 57 conversions (out of 66) inaugurated until now: +21% +23.2 p.p 70 million • 8 converted stores in 1H23 +R$ 3.0 bn (Expansion) tickets 5 stores in ...