B2W Announces a Growth of 15% in Consolidated Gross Revenue and an Improvement of 23 Days on the Cash Conversion Cycle in 3Q09

RIO DE JANEIRO, Nov. 5 /PRNewswire-FirstCall/ -- B2W - Companhia Global do Varejo (BOVESPA: BTOW3), the leading online retail company in Brazil, formed from the merger between Americanas.com and Submarino, announces today its results for the 3rd quarter of 2009 (3Q09) and the first nine months of 2009 (9M09). The financial statements were prepared and are presented in accordance with the norms issued by the Securities Exchange Commission (Known locally as CVM), as well as the Novo Mercado listing rules and include accounting changes introduced by Law 11,638/07. Except when otherwise specified, the analyses refer to the Consolidated results.

B2W's portfolio is composed of the brands Americanas.com, Shoptime, Submarino, Blockbuster Online, Ingresso.com, Submarino Finance and B2W Viagens, offering over 30 product and service categories through the Internet, telesales, catalogues, TV and kiosks.

Highlights of the Period

• Gross Revenue: 15% growth in 3Q09 and 13% in 9M09
  

In 3Q09, Gross Revenue reached R$1,300MM, representing a 15% growth in comparison with 3Q08. In 9M09, was reached a growth of 13% in comparison with 9M08 reaching R$3,601MM.

• Net Revenue: Growth of 26% in 3Q09 and 18% in 9M09
  

Net Revenue increased from R$794MM in 3Q08 to R$999MM in 3Q09, a growth of 26%. In 9M09, Net Revenue reached R$2,648MM, a growth of 18% in comparison with 9M08.

• EBITDA: R$111MM in 3Q09 and R$315 in 9M09
  

EBITDA reached R$111MM in 3Q09, representing a 2% growth with margin of 11.1% of Net Revenue. In 9M09, EBITDA reached R$315MM, a growth of 8% with margin of 11.9% of Net Revenue.

• Net Income: R$13MM in 3Q09 and R$35MM in 9M09
  

In 3Q09, Net Income reached R$13MM versus R$22MM in 3Q08. In 9M09, Net Income reached R$35MM versus R$61MM in 9M08.

• Cash Conversion Cycle: Improvement of 23 days in 3Q09
  

In 3Q09, B2W's cash conversion cycle was 80 days (not considering Tax Substitution effects), an improvement of 23 days versus 3Q08.

• Submarino Credit Card
  

The participation on sales of the Submarino website overcame 25% in September. After the migration of the Submarino Card to the MasterCard label the offsite sales increased 7 times.

• Ingresso.com
  

Launching of the international expansion in Latin America, starting in Mexico in November 2009.

• Parent Company Results:
  • Gross Revenue: Reached R$1,218MM in 3Q09, a growth of 15% in relation to 3Q08. In 9M09, Gross Revenue reached R$3,391MM, representing a growth of 12% in comparison with 9M08.
  • EBITDA: Reached R$95MM in 3Q09, a variation of -5% over 3Q08, with margin of 10.2% of the NR. In 9M09, EBITDA reached R$283MM, +4% over 9M08 and margin of 11.4% of the NR.
    

For a complete version of the 3Q09 Earnings Release, access the company's website: www.b2winc.com.

    Conference Call and Webcast
    (in Portuguese - simultaneous translation into English)
    November 06th, 2009 (Friday)
    09:00 a.m. (EST)
    Connection: +1 (888) 700.0802 (USA)
                +1 (786) 924.6977 (other countries)
    Code: B2W
    Replay: until November 12th, 2009
    Access: +55 (11) 4688.6312
    Code: 402
    Additional information may be obtained by contacting the
    Investor Relations department:

    Investor Relations Team
    ri@b2winc.com
    +55 (21) 2206.6000

SOURCE B2W - Companhia Global do Varejo