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MagazineLuiza ● 3Q21 Highlights Total sales rose 12 % in 3Q21 , reaching R $ 13.8 billion ( 103 % growth in two years ) E - commerce grew 22 % in 3Q21 , reaching R $ 10.0 billion ( 204 % growth in two years ) Marketplace grew 67 % in 3Q21 , reaching R $ 3.5 billion ( 310 % growth in two years ) Total Payment Volume ( TPV ) grew 99 % in 3Q21 , reaching R $ 18.5 billion Adjusted EBITDA reached R $ 351.0 million ( 4.1 % margin ) Net profit was R $ 143.5 million ( R $ 22.6 million adjusted ) Adjusted net cash position was R $ 6.8 billion and total adjusted cash position was R $ 9.1 billion Earnings Release 3Q21 MGLU B3 LISTED NM Sales growth on top of the highest comparison basis in Magalu's history . In 3Q21 , total sales - including physical stores , e - comr erce first - party inventory ( 1P ) and marketplace ( 3P ) - increased 12.0 % to R $ 13.8 billion , refle growth of 22.2 % in e - commerce ( on growth of 148 % in 3Q20 ) and an 8.0 % decrease in physical stores . Physical stores performance was impacted by the deterioration of the macroeconomic scenario throughout the quarter , as inflation and interest rates increased Physical store performance was also impacted by the strong comparison base ( 18.3 % growth in 3Q20 ) . E - commerce continues to grow at a fast pace with marketplace growth a highlight . In 3Q21 , Brazilian e commerce grew 17.9 % , according to Neotrust , with Magalu growing more than the market . During the period , Magalu's e commerce sales increased by 22.2 % , reaching R $ 10 billion during the quarter for the first time . In 1P e - commerce , sales increased by 6.7 % , while 3P marketplace sales increased by 67.3 % , reaching 35.0 % of Magalu's total e - commerce . The gain in market share was driven by the excellent performance of the SuperApp , which reached 37.9 million monthly active users ( MAU ) . Other contributing factors include faster delivery speeds , the growth of new categories and the continued evolution of the marketplace . Gross margin reflects greater e - commerce participation . Adjusted gross margin was 24.7 % during the quarter , a reduction of 1.5 p.p. from the same period in 2020 ( 26.2 % in 3Q20 ) . This was a result of greater e - commerce participation in total sales ( 72.3 % of the Company's total sales in 3Q21 ) and partially due to the growth of inflation and its impact on the cost of goods sold . Expenses impacted by physical store contraction and marketplace growth . The percentage of adjusted operating expenses in relation to net revenues was 20.6 % in 3Q21 . The 1.1 p.p. increase over 3020 was attributable to a slight dilution of physical stores expenses and an increase in e - commerce marketing expenses . It is worth highlighting that in relation to total sales ( including marketplace ) , expenses were practically stable at 13.2 % ( a reduction of 0.4 p.p. compared to 3Q20 ) . EBITDA and net profit . Sales growth and positive e - commerce results contributed to adjusted EBITDA which reached R $ 351.0 million in 3Q21 . However , the decrease in gross margin and the increase in expenses over net revenues impacted the Adjusted EBITDA margin , which decreased from 6.8 % in 3Q20 to 4.1 % in 3Q21 . Adjusted net income reached R $ 22.6 million during the same period . Considering non - recurring net gains , net income was R $ 143.5 million . Cash generation and capital structure . Cash flow from operations reached R $ 221.8 million during the quarter , driven by the positive results and the variation in working capital . Over the last 12 months , cash flow from operations , adjusted for credit card receivables , was R $ 219.5 million . In September 21 , the adjusted net cash position was R $ 6.8 billion and the total adjusted cash position was R $ 9.1 billion , including the R $ 3.9 billion raised in the July 2021 follow - on offering . MGLU3 : R $ 13.65 per share Total Shares : 6,673,926,848 Market Cap : R $ 91.1 billion Fintech . Total payment volume ( TPV ) exceeded R $ 18.5 billion in 3Q21 , growing 98.5 % . In September 2021 , the cardholder base reached 6.6 million credit cards , growing 33.3 % compared to September 20. Credit card billing grew an expressive 47.3 % in 3Q21 , reaching R $ 10.9 billion during the period , and the credit card portfolio reached R $ 15.1 billion at the end of 3Q21 . In September 21 , Magalu Pay reached 4.0 million open accounts , driven by the " Cashback do milhão " ( R $ 1 million Cashback " ) campaign . Videoconference November 12,2021 ( Friday ) 12:00 PM in US ( EST ) / 14:00 PM in Brazil Conference Call Access Investor Relations +55 11 3504-2727 www.magazineluiza.com.br/ri ri@magazineluiza.com.br