UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 6-K

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or

15d-16 of the Securities Exchange Act of 1934

For the month of July 2021

Commission File Number: 001-39928

_____________________

Sendas Distribuidora S.A.

(Exact Name as Specified in its Charter)

Sendas Distributor S.A.

(Translation of registrant’s name into English)

Avenida Ayrton Senna, No. 6,000, Lote 2, Pal 48959, Anexo A

Jacarepaguá

22775-005 Rio de Janeiro, RJ, Brazil

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F:   ýForm 40-F:   o

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)):

Yes:   oNo:   ý

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)):

Yes:   o      No:   ý

 

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Index
Corporate Information / Capital Composition	2
Consolidated and Individual interim financial information
Individual Statements
Balance Sheet - Assets	3
Balance Sheet - Liabilities	4
Statements of Operations	5
Statements of Comprehensive Income	6
Statements of Changes in Shareholder’ Equity 1/1/2021 to 6/30/2021	7
Statements of Changes in Shareholder’ Equity 1/1/2020 to 6/30/2020	8
Statements of Cash Flows	9
Consolidated Statements
Balance Sheet - Assets	10
Balance Sheet - Liabilities	11
Statements of Operations	12
Statements of Comprehensive Income	13
Statements of Changes in Shareholder’ Equity 1/1/2021 to 6/30/2021	14
Statements of Changes in Shareholder’ Equity 1/1/2020 to 6/30/2020	15
Statements of Cash Flows	16
Notes to the consolidated and individual interim financial information	17

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Corporate information / Capital composition
Number of Shares	Current quarter
(Thousands)	6/30/2021
Share Capital
Common	268,896
Preferred	0
Total	268,896
Treasury Shares
Common	0
Preferred	0
Total	0

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Individual Interim Financial Information / Balance Sheet - Assets
R$ (in thousands)
		Current quarter	Prior period
Code	Description	6/30/2021	12/31/2020
1	Total Assets	20,481,000	18,821,000
1.01	Current Assets	9,371,000	8,349,000
1.01.01	Cash and Cash Equivalents	4,511,000	3,532,000
1.01.03	Accounts Receivable	264,000	216,000
1.01.03.01	Trade Receivables	230,000	182,000
1.01.03.02	Other Receivables	34,000	34,000
1.01.04	Inventories	3,688,000	3,739,000
1.01.06	Recoverable Taxes	683,000	768,000
1.01.08	Other Current Assets	225,000	94,000
1.01.08.01	Non-current Assets Held for Sale	147,000	-
1.01.08.01.01	Assets Held for Sale	147,000	-
1.01.08.03	Other	78,000	94,000
1.01.08.03.01	Derivative Financial Instruments	-	57,000
1.01.08.03.03	Other Current Assets	78,000	37,000
1.02	Non-current Assets	11,110,000	10,472,000
1.02.01	Long-Term Assets	1,105,000	1,190,000
1.02.01.09	Receivable From Related Parties	179,000	178,000
1.02.01.10	Other Non-current Assets	926,000	1,012,000
1.02.01.10.04	Recoverable Taxes	771,000	866,000
1.02.01.10.05	Restricted Deposits for Legal Proceedings	132,000	134,000
1.02.01.10.06	Derivative Financial Instruments	2,000	11,000
1.02.01.10.07	Other Non-current Assets	21,000	1,000
1.02.02	Investments	798,000	769,000
1.02.02.01	Investments in Associates	798,000	769,000
1.02.03	Property, Plant and Equipment	8,160,000	7,476,000
1.02.03.01	Property, Plant and Equipment in Use	5,456,000	5,043,000
1.02.03.02	Right of Use on Leases	2,704,000	2,433,000
1.02.04	Intangible Assets	1,047,000	1,037,000
1.02.04.01	Intangible Assets	1,047,000	1,037,000
1.02.04.01.02	Intangible Assets	1,047,000	1,037,000

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Individual Interim Financial Information / Balance Sheet - Liabilities
R$ (in thousands)
		Current quarter	Prior period
Code	Description	6/30/2021	12/31/2020
2	Total Liabilities	20,481,000	18,821,000
2.01	Current Liabilities	8,006,000	8,786,000
2.01.01	Payroll and Related Taxes	408,000	371,000
2.01.02	Trade Payables	4,505,000	5,058,000
2.01.03	Taxes and Contributions Payable	282,000	528,000
2.01.04	Borrowings and Financing	2,191,000	2,120,000
2.01.04.01	Borrowings and Financing	260,000	280,000
2.01.04.02	Debentures	1,931,000	1,840,000
2.01.05	Other Liabilities	620,000	709,000
2.01.05.01	Payables to Related Parties	104,000	41,000
2.01.05.02	Others	516,000	668,000
2.01.05.02.01	Dividends and Interest on Own Capital	-	85,000
2.01.05.02.08	Financing Related to Acquisition of Assets	51,000	34,000
2.01.05.02.09	Deferred Revenue	139,000	227,000
2.01.05.02.12	Other Current Liabilities	113,000	150,000
2.01.05.02.17	Lease Liability	213,000	172,000
2.02	Non-current Liabilities	10,558,000	8,688,000
2.02.01	Borrowings and Financing	7,344,000	5,711,000
2.02.01.01	Borrowings and Financing	984,000	952,000
2.02.01.02	Debentures	6,360,000	4,759,000
2.02.02	Other Liabilities	2,890,000	2,612,000
2.02.02.02	Others	2,890,000	2,612,000
2.02.02.02.07	Property Tax	12,000	8,000
2.02.02.02.09	Other Accounts Payable	2,878,000	2,604,000
2.02.03	Deferred Taxes	72,000	82,000
2.02.03.01	Deferred Income Tax and Social Contribution	72,000	82,000
2.02.04	Provision for Legal Proceedings	251,000	282,000
2.02.06	Deferred Revenue	1,000	1,000
2.03	Shareholders’ Equity	1,917,000	1,347,000
2.03.01	Share Capital	779,000	761,000
2.03.02	Capital Reserves	11,000	4,000
2.03.04	Earnings Reserve	1,127,000	582,000

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Individual Interim Financial Information / Statements of Operations
R$ (in thousands)
		Current Quarter	Year to date current period	Previous Quarter	Year to date previous period
Code	Description	4/1/2021 to 6/30/2021	1/1/2021 to 6/30/2021	4/1/2020 to 6/30/2020	1/1/2020 to 6/30/2020
3.01	Net Operating Revenue	10,049,000	19,497,000	8,242,000	16,080,000
3.02	Cost Of Sales	(8,327,000)	(16,268,000)	(6,904,000)	(13,525,000)
3.03	Gross Profit	1,722,000	3,229,000	1,338,000	2,555,000
3.04	Operating Income / Expenses	(1,126,000)	(2,150,000)	(948,000)	(1,855,000)
3.04.01	Selling Expenses	(804,000)	(1,560,000)	(647,000)	(1,267,000)
3.04.02	General and Administrative Expenses	(152,000)	(289,000)	(104,000)	(198,000)
3.04.05	Other Operating Expenses	(184,000)	(330,000)	(203,000)	(380,000)
3.04.05.01	Depreciation and Amortization	(154,000)	(299,000)	(121,000)	(238,000)
3.04.05.03	Other Operating Expenses, Net	(30,000)	(31,000)	(82,000)	(142,000)
3.04.06	Share of Profit of Associates	14,000	29,000	6,000	(10,000)
3.05	Profit from Operations Before Net Financial Expenses	596,000	1,079,000	390,000	700,000
3.06	Net Financial Expenses	(145,000)	(279,000)	(131,000)	(286,000)
3.06.01	Financing Revenues	52,000	69,000	66,000	129,000
3.06.02	Financing Expenses	(197,000)	(348,000)	(197,000)	(415,000)
3.07	Income Loss Before Income Tax and Social Contribution	451,000	800,000	259,000	414,000
3.08	Income Tax and Social Contribution	(146,000)	(255,000)	(84,000)	(139,000)
3.08.01	Current	(164,000)	(265,000)	(184,000)	(261,000)
3.08.02	Deferred	18,000	10,000	100,000	122,000
3.09	Net Income from Continued Operations	305,000	545,000	175,000	275,000
3.11	Net Income for the Period	305,000	545,000	175,000	275,000
3.99	Earnings per Share - (Reais/Share)
3.99.01	Basic Earnings per Share
3.99.01.01	Common	1.13758	2.02854	0.67829	1.06589
3.99.02	Diluted Earnings per Share
3.99.02.01	Common	1.13758	2.02854	0.67829	1.06589

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Individual Interim Financial Information / Statements of Comprehensive Income
R$ (in thousands)
		Current Quarter	Year to date current period	Previous Quarter	Year to date previous period
Code	Description	4/1/2021 to 6/30/2021	1/1/2021 to 6/30/2021	4/1/2020 to 6/30/2020	1/1/2020 to 6/30/2020
4.01	Net income for the Period	305,000	545,000	175,000	275,000
4.02	Other Comprehensive Income	-	-	1,069,000	1,553,000
4.02.02	Foreign Currency Translation	-	-	1,072,000	1,563,000
4.02.04	Fair Value of Expected Credit Loss	-	-	(1,000)	-
4.02.05	Hedge Operations	-	-	(2,000)	(6,000)
4.02.06	Income Taxes over Other Comprehensive Income	-	-	-	(2,000)
4.02.08	Other Comprehensive Income	-	-	-	(2,000)
4.03	Total comprehensive Income for the Period	305,000	545,000	1,244,000	1,828,000

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Individual Interim Financial Information / Satatements of Cash Flows - Indirect method
R$ (in thousands)
		Yeat to date current period	Year to date previous period
Code	Description	1/1/2021 to 6/30/2021	1/1/2020 to 6/30/2020
6.01	Net Cash Operating Activities	496,000	1,788,000
6.01.01	Cash Provided By the Operations	1,347,000	863,000
6.01.01.01	Net Income for the Period	545,000	275,000
6.01.01.02	Deferred Income Tax and Social Contribution	(10,000)	(123,000)
6.01.01.03	Loss of Disposal of Property, Plant and Equipment	68,000	27,000
6.01.01.04	Depreciation and Amortization	324,000	252,000
6.01.01.05	Interest and Monetary Variations	401,000	295,000
6.01.01.07	Share of Profit (Loss) of Subsidiaries and Associates	(29,000)	10,000
6.01.01.08	(Reversal) Provision for Legal Proceedings	(24,000)	(3,000)
6.01.01.10	Provision for Share Purchase Options	7,000	3,000
6.01.01.11	Provision (Reversal) for Doubtful Accounts	1,000	(1,000)
6.01.01.13	Provision (Reversal) for Inventory Losses and Damages	138,000	132,000
6.01.01.16	Gain on Leasing Liabilities Write-Off	(74,000)	(4,000)
6.01.02	Changes in Assets and Liabilities	(851,000)	925,000
6.01.02.01	Accounts Receivable	(49,000)	(44,000)
6.01.02.02	Inventories	(87,000)	9,000
6.01.02.03	Recoverable Taxes	189,000	77,000
6.01.02.04	Other Assets	(67,000)	77,000
6.01.02.05	Related Parties	66,000	201,000
6.01.02.06	Restricted Deposits for Legal Proceeding	3,000	19,000
6.01.02.07	Trade Payables	(551,000)	(971,000)
6.01.02.08	Payroll and Related Taxes	37,000	47,000
6.01.02.09	Taxes and Social Contributions Payable	(8,000)	175,000
6.01.02.10	Provision for Legal Proceedings	(19,000)	(2,000)
6.01.02.11	Deferred Revenue	(97,000)	4,000
6.01.02.12	Other Payables	(30,000)	(66,000)
6.01.02.13	Income Tax and Social Contribution, Paid	(238,000)	-
6.01.02.15	Received Dividends and Interest on Own Capital	-	1,399,000
6.02	Net Cash of Investing Activities	(757,000)	(199,000)
6.02.02	Purchase of Property, Plant and Equipment	(739,000)	(571,000)
6.02.03	Purchase of Intangible Assets	(19,000)	(13,000)
6.02.04	Proceeds From Sale of Property, Plant and Equipment	1,000	385,000
6.03	Net Cash of Financing Activities	1,240,000	(1,026,000)
6.03.01	Capital Increase	18,000	-
6.03.02	Proceeds From Borrowings and Financing	1,874,000	599,000
6.03.03	Payments of Borrowings and Financing	(366,000)	(1,478,000)
6.03.05	Payments of Dividends and Interesr on Own Capital	(85,000)	-
6.03.09	Payment of Lease Liability	(201,000)	(147,000)
6.05	Increase (Decrease) in Cash and Cash Equivalents	979,000	563,000
6.05.01	Cash and Cash Equivalents at the Beginning of the Period	3,532,000	1,876,000
6.05.02	Cash and Cash Equivalents at the End of the Period	4,511,000	2,439,000

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Individual Interim Financial Information / Statements of Changes in Shareholders' Equity 1/1/2021 to 6/30/2021
R$ (in thousands)
Code	Description	Capital stock	Capital reserve, granted options and treasury shares	Profit reserve	Retained earnings /Accumulated losses	Other comprehensive income	Shareholders' equity
5.01	Opening balance	761,000	4,000	645,000	-	-	1,410,000
5.02	Prior Period Adjustments	-	-	(63,000)	-	-	(63,000)
5.03	Adjusted Opening Balance	761,000	4,000	582,000	-	-	1,347,000
5.04	Capital Transactions with Shareholders	18,000	7,000	-	-	-	25,000
5.04.01	Capital Increase	18,000	-	-	-	-	18,000
5.04.03	Stock Options Granted	-	7,000	-	-	-	7,000
5.05	Total Comprehensive Income	-	-	-	545,000	-	545,000
5.05.01	Net Income  for the Period	-	-	-	545,000	-	545,000
5.07	Closing Balance	779,000	11,000	582,000	545,000	-	1,917,000

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Individual Interim Financial Information / Statements of Changes in Shareholders' Equity 1/1/2020 to 6/30/2020
R$ (in thousands)
Code	Description	Capital stock	Capital reserve, granted options and treasury shares	Profit reserve	Retained earnings /Accumulated losses	Other comprehensive income	Shareholders' equity
5.01	Opening Balance	4,421,000	18,000	2,497,000	-	162,000	7,098,000
5.03	Adjusted Opening Balance	4,421,000	18,000	2,497,000	-	162,000	7,098,000
5.04	Capital Transactions with Shareholders	57,000	3,000	-	-	-	60,000
5.04.01	Capital Increases	57,000	-	-	-	-	57,000
5.04.03	Stock Options Granted	-	3,000	-	-	-	3,000
5.05	Total Comprehensive Income	-	-	-	275,000	1,553,000	1,828,000
5.05.01	Net Income for the Period	-	-	-	275,000	-	275,000
5.05.02	Other Comprehensive Income	-	-	-	-	1,553,000	1,553,000
5.05.02.07	Fair Value of Trade Receivable	-	-	-	-	(2,000)	(2,000)
5.05.02.08	Cash Flow Hedge	-	-	-	-	(6,000)	(6,000)
5.05.02.09	Income Taxes Related to Other Comprehensive Income	-	-	-	-	(2,000)	(2,000)
5.05.02.10	Exchange Differences over Conversion of Foreign Operations	-	-	-	-	1,563,000	1,563,000
5.06	Internal Changes of Shareholders’ Equity	-	-	102,000	-	-	102,000
5.06.08	Other	-	-	(6,000)	-	-	(6,000)
5.06.09	Hyperinflationary Economy Effect	-	-	108,000	-	-	108,000
5.07	Closing Balance	4,478,000	21,000	2,599,000	275,000	1,715,000	9,088,000

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Consolidated Interim Financial Information / Balance Sheet - Assets
R$ (in thousands)
		Current quarter	Prior period
Code	Description	06/30/2021	12/31/2020
1	Total Assets	20,481,000	18,821,000
1.01	Current Assets	9,371,000	8,349,000
1.01.01	Cash and Cash Equivalents	4,511,000	3,532,000
1.01.03	Accounts Receivable	264,000	216,000
1.01.03.01	Trade Receivables	230,000	182,000
1.01.03.02	Other Receivables	34,000	34,000
1.01.04	Inventories	3,688,000	3,739,000
1.01.06	Recoverable Taxes	683,000	768,000
1.01.08	Other Current Assets	225,000	94,000
1.01.08.01	Non-current Assets Held for Sale	147,000	0
1.01.08.01.01	Assets Held for Sale	147,000	0
1.01.08.03	Other	78,000	94,000
1.01.08.03.01	Derivative Financial Instruments	0	57,000
1.01.08.03.03	Other Current Assets	78,000	37,000
1.02	Non-current Assets	11,110,000	10,472,000
1.02.01	Long-Term Assets	1,105,000	1,190,000
1.02.01.09	Receivable From Related Parties	179,000	178,000
1.02.01.10	Other Non-current Assets	926,000	1,012,000
1.02.01.10.04	Recoverable Taxes	771,000	866,000
1.02.01.10.05	Restricted Deposits for Legal Proceedings	132,000	134,000
1.02.01.10.06	Derivative Financial Instruments	2,000	11,000
1.02.01.10.07	Other Non-current Assets	21,000	1,000
1.02.02	Investments	798,000	769,000
1.02.02.01	Investments in Associates	798,000	769,000
1.02.02.01.02	Investments in Subsidiaries	798,000	769,000
1.02.03	Property, Plant and Equipment	8,160,000	7,476,000
1.02.03.01	Property, Plant and Equipment in Use	5,456,000	5,043,000
1.02.03.02	Right of Use on Leases	2,704,000	2,433,000
1.02.04	Intangible Assets	1,047,000	1,037,000
1.02.04.01	Intangible Assets	1,047,000	1,037,000
1.02.04.01.02	Intangible Assets	1,047,000	1,037,000

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Consolidated Interim Financial Information / Balance Sheet - Liabilities
R$ (in thousands)
		Current quarter	Prior period
Code	Description	06/30/2021	12/31/2020
2	Total Liabilities	20,481,000	18,821,000
2.01	Current Liabilities	8,006,000	8,786,000
2.01.01	Payroll and Related Taxes	408,000	371,000
2.01.02	Trade Payables	4,505,000	5,058,000
2.01.03	Taxes and Contributions Payable	282,000	528,000
2.01.04	Borrowings and Financing	2,191,000	2,120,000
2.01.04.01	Borrowings and Financing	260,000	280,000
2.01.04.02	Debentures	1,931,000	1,840,000
2.01.05	Other Liabilities	620,000	709,000
2.01.05.01	Payables to Related Parties	104,000	41,000
2.01.05.02	Others	516,000	668,000
2.01.05.02.01	Dividends and Interest on Own Capital	-	85,000
2.01.05.02.08	Financing Related to Acquisition of Assets	51,000	34,000
2.01.05.02.09	Deferred Revenue	139,000	227,000
2.01.05.02.12	Other Current Liabilities	113,000	150,000
2.01.05.02.17	Lease Liability	213,000	172,000
2.02	Non-current Liabilities	10,558,000	8,688,000
2.02.01	Borrowings and Financing	7,344,000	5,711,000
2.02.01.01	Borrowings and Financing	984,000	952,000
2.02.01.02	Debentures	6,360,000	4,759,000
2.02.02	Other Liabilities	2,890,000	2,612,000
2.02.02.02	Others	2,890,000	2,612,000
2.02.02.02.07	Property Tax	12,000	8,000
2.02.02.02.09	Other Accounts Payable	2,878,000	2,604,000
2.02.03	Deferred Taxes	72,000	82,000
2.02.03.01	Deferred Income Tax and Social Contribution	72,000	82,000
2.02.04	Provision for Legal Proceedings	251,000	282,000
2.02.06	Deferred Revenue	1,000	1,000
2.03	Shareholders’ Equity	1,917,000	1,347,000
2.03.01	Share Capital	779,000	761,000
2.03.02	Capital Reserves	11,000	4,000
2.03.04	Earnings Reserve	1,127,000	582,000

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Consolidated Interim Financial Information / Statements of Operations
R$ (in thousands)
		Current Quarter	Year to date current period	Previous Quarter	Year to date previous period
Code	Description	4/1/2021 to 6/30/2021	1/1/2021 to 6/30/2021	4/1/2020 to 6/30/2020	1/1/2020 to 6/30/2020
3.01	Net Operating Revenue	10,049,000	19,497,000	8,242,000	16,080,000
3.02	Cost Of Sales	(8,327,000)	(16,268,000)	(6,904,000)	(13,525,000)
3.03	Gross Profit	1,722,000	3,229,000	1,338,000	2,555,000
3.04	Operating Income / Expenses	(1,126,000)	(2,150,000)	(954,000)	(1,845,000)
3.04.01	Selling Expenses	(804,000)	(1,560,000)	(647,000)	(1,267,000)
3.04.02	General and Administrative Expenses	(152,000)	(289,000)	(104,000)	(198,000)
3.04.05	Other Operating Expenses	(184,000)	(330,000)	(203,000)	(380,000)
3.04.05.01	Depreciation and Amortization	(154,000)	(299,000)	(121,000)	(238,000)
3.04.05.03	Other Operating Expenses, Net	(30,000)	(31,000)	(82,000)	(142,000)
3.04.06	Share of Profit of Associates	14,000	29,000	-	-
3.05	Profit from Operations Before Net Financial Expenses	596,000	1,079,000	384,000	710,000
3.06	Net Financial Expenses	(145,000)	(279,000)	(131,000)	(286,000)
3.06.01	Financing Revenues	52,000	69,000	66,000	129,000
3.06.02	Financing Expenses	(197,000)	(348,000)	(197,000)	(415,000)
3.07	Income Loss Before Income Tax and Social Contribution	451,000	800,000	253,000	424,000
3.08	Income Tax and Social Contribution	(146,000)	(255,000)	(84,000)	(139,000)
3.08.01	Current	(164,000)	(265,000)	(184,000)	(261,000)
3.08.02	Deferred	18,000	10,000	100,000	122,000
3.09	Net Income from Continued Operations	305,000	545,000	169,000	285,000
3.10	Net Income from Discontinued Operations	-	-	58,000	64,000
3.10.01	Net Income from Discontinued Operations	-	-	58,000	64,000
3.11	Net Income for the Period	305,000	545,000	227,000	349,000
3.11.01	Attributed Controlling Company Partners	305,000	545,000	175,000	275,000
3.11.02	Attributed Partners Non-controlling	-	-	52,000	74,000
3.99	Earnings per Share - (Reais/Share)
3.99.01	Basic Earnings per Share
3.99.01.01	Common	1.13758	2.02854	0.67829	1.06589
3.99.02	Diluted Earnings per Share
3.99.02.01	Common	1.13758	2.02854	0.67829	1.06589

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Consolidated Interim Financial Information / Statements of Comprehensive Income
R$ (in thousands)
		Current Quarter	Year to date current period	Previous Quarter	Year to date previous period
Code	Description	4/1/2021 to 6/30/2021	1/1/2021 to 6/30/2021	4/1/2020 to 6/30/2020	1/1/2020 to 6/30/2020
4.01	Net income for the Period	305,000	545,000	227,000	349,000
4.02	Other Comprehensive Income	-	-	1,431,000	2,043,000
4.02.02	Foreign Currency Translation	-	-	1,433,000	2,052,000
4.02.04	Fair Value of Trade Receivables	-	-	(1,000)	-
4.02.05	Cash Flow Hedge	-	-	(1,000)	(5,000)
4.02.06	Income Taxes over Other Comprehensive Income	-	-	-	(2,000)
4.02.08	Other Comprehensive Income	-	-	-	(2,000)
4.03	Total Comprehensive Income for the Period	305,000	545,000	1,658,000	2,392,000
4.03.01	Attributable To Controlling Shareholders	305,000	545,000	1,244,000	1,828,000
4.03.02	Attributable To Non-Controlling Shareholders	-	-	414,000	564,000

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Consolidated Interim Financial Information / Satatements of Cash Flows - Indirect method
R$ (in thousands)
		Current period accumulated	Prior period accumulated
Code	Description	01/01/2021 - 06/30/2021	01/01/2020 - 06/30/2020
6.01	Net Cash Operating Activities	496,000	(888,000)
6.01.01	Cash Provided by The Operations	1,347,000	1,315,000
6.01.01.01	Net Income for The Period	545,000	349,000
6.01.01.02	Deferred Income Tax and Social Contribution	(10,000)	(185,000)
6.01.01.03	Gain (Losses) on Disposal of Property and Equipments	68,000	127,000
6.01.01.04	Depreciation and Amortization	324,000	646,000
6.01.01.05	Interest and Inflation Adjustments	401,000	415,000
6.01.01.07	Share of Profit (Loss) of Subsidiaries and Associates	(29,000)	41,000
6.01.01.08	(Reversal) Provision for Legal Proceedings	(24,000)	3,000
6.01.01.10	Provision for Share Purchase Options	7,000	3,000
6.01.01.11	Provision (Reversal) for Doubtful Accounts	1,000	-
6.01.01.13	Provision (Reversal) for Inventory Losses and Damages	138,000	(7,000)
6.01.01.14	Other Operating Expenses / Revenues	-	20,000
6.01.01.16	Gain on Leasing Liabilities Write-Off	(74,000)	(97,000)
6.01.02	Changes in Assets and Liabilities	(851,000)	(2,203,000)
6.01.02.01	Accounts Receivable	(49,000)	(32,000)
6.01.02.02	Inventories	(87,000)	28,000
6.01.02.03	Recoverable Taxes	189,000	(94,000)
6.01.02.04	Other Assets	(67,000)	89,000
6.01.02.05	Related Parties	66,000	208,000
6.01.02.06	Restricted Deposits for Legal Proceeding	3,000	17,000
6.01.02.07	Trade Payables	(551,000)	(2,593,000)
6.01.02.08	Payroll and Related Taxes	37,000	19,000
6.01.02.09	Taxes and Social Contributions Payable	(8,000)	301,000
6.01.02.10	Payments of Provision for Risk	(19,000)	(13,000)
6.01.02.11	Deferred Revenue	(97,000)	(15,000)
6.01.02.12	Other Payables	(30,000)	(118,000)
6.01.02.13	Income Tax and Social Contribution,Paid	(238,000)	-
6.02	Net Cash of Investing Activities	(757,000)	(359,000)
6.02.02	Acquisition of Property and Equipment	(739,000)	(697,000)
6.02.03	Increase in Intangible Assets	(19,000)	(40,000)
6.02.04	Sales of Property and Equipment	1,000	385,000
6.02.09	Acquisition of Investment Property	-	(7,000)
6.03	Net Cash of Financing Activities	1,240,000	384,000
6.03.01	Capital Increase	18,000
6.03.02	Proceeds From Borrowings and Financing	1,874,000	2,659,000
6.03.03	Payments of Borrowings and Financing	(366,000)	(1,788,000)
6.03.05	Dividends and Interest on Equity, Paid	(85,000)	(124,000)
6.03.09	Payment of Lease Liability	(201,000)	(363,000)
6.04	Exchange Variation Cash and Cash Equivalents	-	455,000
6.05	Increase (Decrease) in Cash and Cash Equivalents	979,000	(408,000)
6.05.01	Cash and Cash Equivalents at the Beginning of the Period	3,532,000	5,026,000
6.05.02	Cash and Cash Equivalents at the End of the Period	4,511,000	4,618,000

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Consolidated Interim Financial Information / Statements of Changes in Shareholders' Equity 1/1/2021 to 6/30/2021
R$ (in thousands)
Code	Description	Capital stock	Capital reserve, granted options and treasury shares	Profit reserve	Retained earnings /Accumulated losses	Other comprehensive income	Shareholders' equity	Non-Controlling Shareholders' participation	Consolidated Shareholders' equity
5.01	Opening balance	761,000	4,000	645,000	-	-	1,410,000	-	1,410,000
5.02	Prior Period Adjustments	-	-	(63,000)	-	-	(63,000)	-	(63,000)
5.03	Adjusted Opening Balance	761,000	4,000	582,000	-	-	1,347,000	-	1,347,000
5.04	Capital Transactions with Shareholders	18,000	7,000	-	-	-	25,000	-	25,000
5.04.01	Capital Increase	18,000	-	-	-	-	18,000	-	18,000
5.04.03	Stock Options Granted	-	7,000	-	-	-	7,000	-	7,000
5.05	Total Comprehensive Income	-	-	-	545,000	-	545,000	-	545,000
5.05.01	Net Income  for the Period	-	-	-	545,000	-	545,000	-	545,000
5.07	Closing Balance	779,000	11,000	582,000	545,000	-	1,917,000	-	1,917,000

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Consolidated Interim Financial Information / Statements of Changes in Shareholders' Equity 1/1/2020 to 6/30/2020
R$ (in thousands)
Code	Description	Capital stock	Capital reserve, granted options and treasury shares	Profit reserve	Retained earnings /Accumulated losses	Other comprehensive income	Shareholders' equity	Non-Controlling Shareholders' participation	Consolidated Shareholders' equity
5.01	Opening Balance	4,421,000	18,000	2,497,000	-	162,000	7,098,000	2,603,000	9,701,000
5.03	Adjusted Opening Balance	4,421,000	18,000	2,497,000	-	162,000	7,098,000	2,603,000	9,701,000
5.04	Capital Transactions with Shareholders	57,000	3,000	-	-	-	60,000	(68,000)	(8,000)
5.04.01	Capital Increases	57,000	-	-	-	-	57,000	-	57,000
5.04.03	Stock Options Granted	-	3,000	-	-	-	3,000	-	3,000
5.04.06	Dividends	-	-	-	-	-	-	(68,000)	(68,000)
5.05	Total Comprehensive Income	-	-	-	275,000	1,553,000	1,828,000	564,000	2,392,000
5.05.01	Net Income for the Period	-	-	-	275,000	-	275,000	74,000	349,000
5.05.02	Other Comprehensive Income	-	-	-	-	1,553,000	1,553,000	490,000	2,043,000
5.05.02.06	Other Comprehensive Income	-	-	-	-	(2,000)	(2,000)	-	(2,000)
5.05.02.08	Cash Flow Hedge	-	-	-	-	(6,000)	(6,000)	1,000	(5,000)
5.05.02.09	Income Taxes Related to Other Comprehensive Income	-	-	-	-	(2,000)	(2,000)	-	(2,000)
5.05.02.10	Exchange Differences over Conversion of Foreign Operations	-	-	-	-	1,563,000	1,563,000	489,000	2,052,000
5.06	Internal Changes of Shareholders’ Equity	-	-	102,000	-	-	102,000	1,000	103,000
5.06.08	Other	-	-	(6,000)	-	-	(6,000)	(2,000)	(8,000)
5.06.09	Hyperinflationary Economy Effect	-	-	108,000	-	-	108,000	3,000	111,000
5.07	Closing Balance	4,478,000	21,000	2,599,000	275,000	1,715,000	9,088,000	3,100,000	12,188,000

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1	Corporate Information
	Sendas Distribuidora S.A. (the “Company” or “Sendas”) is mainly engaged in the retail and wholesale sale of food, bazar, and other products through its stores, represented by the banner “ASSAÍ”. The Company is based in the State of Rio de Janeiro, at Avenida Ayrton Senna, 6.000, Lote 2 - Anexo A, Jacarepaguá/RJ. On June 30, 2021, the Company operated 187 stores and 13 Distribution Centers which were present in all five regions of the country, distributed in 23 states (including Federal District).
	With the corporate reorganization process concluded on December 31, 2020, see note 1.2, the Company ceased to be a wholly owned subsidiary of Grupo Pão de Açucar (“GPA”) and became a direct subsidiary of Wilkes Participações S.A. (“Wilkes”).
	On November 27, 2019, the Company took over from Casino Guichard Perrachon (“Casino”) the control of Almacenes Éxito S.A. (“Éxito”), an entity operating in Colombia, under the supermarket and hypermarket banners Éxito, Carulla, Super Inter, Surtimax, and Surtimayorista, in Argentina under the banner Libertad and in Uruguay under the banners Disco and Devoto. Additionally, Éxito operates in Colombia under the banner Viva in the mall centers. On December 31, 2020, the Company transferred Éxito’s control in its entirety to GPA as part of spin-off transaction, see note 1.2 and the Éxito’s operations has been presented as discontinued operations, see note 27.
1.1	Listing of Sendas in the Novo Mercado of B3 and NYSE
	On February 19, 2021, the Company communicated to the market, through Material Fact, that on February 10, 2021 the request for listing and admission to the trading of the Company’s shares in the Novo Mercado segment of the B3 S.A. – Brasil, Bolsa, Balcão was approved. And, on February 12, 2021 the request for listing of the Company American Depositary Securities (“ADSs”) representing its common shares on the New York Stock Exchange (“NYSE”) was approved.
	GPA’s shareholders received, after the close of trading on February 26, 2021 (“Cut-off Date”), shares issued by the Company, in proportion to their respective holdings in the capital stock of GPA.
	The shares and ADSs issued by the Company became to be negotiated on B3 and NYSE since March 1, 2021.
1.2	Corporate reorganization
	At meetings held on December 12, 2020 and disclosed to the market on December 14, 2020, the Board of Directors of the Company and GPA approved the Transaction to separate the cash and carry business under the ASSAÍ banner from the traditional retail business of GPA.
	At the Extraordinary Shareholders’ Meeting held on December 31, 2020, shareholders of the Company and GPA approved the Transaction described below:
	i) Spin-off of the Company: partial spin-off of Sendas with the incorporation of the spin-off assets by GPA whose the net carrying amount calculated by the independent evaluator company was R$9,179, comprising 90.93% of the total Éxito’s shares held by the Company, corresponding to 393,010,656 (three hundred ninety-three million, ten thousand, six hundred fifty-six) shares and equivalent to approximately 87.80% of the total shares issued by Éxito (“Éxito participation”) and for 6 (six) gas stations held by Sendas (“Operational Assets”) in the amount of R$25; and
	ii) Spin-off of GPA: partial spin-off of GPA which aims segregate the totality of shareholding participation that GPA holds, whose net carrying amount calculated by the independent evaluator company was R$1,216, with the distribution of the shares issued by Sendas, owned by GPA, directly to GPA’s shareholders, as a proportion of one share issued by the Company for each one share issued by GPA.
	In the spin-off process between Sendas and GPA, an exchange of assets was performed that transferred to GPA 9.07% of the total shares held by the Company, corresponding to 39,246,012 (thirty-nine million, two hundred and forty-six thousand and twelve) shares and equivalent to approximately 8.77% of total shares issued by Éxito undertaking the receipt of the following assets owned by GPA that may be developed by the Company:
	i) 50% of the shares of Bellamar Empreendimento e Participações Ltda. (“Bellamar”), a holding Company that holds an investment in 35.76% of the Financeira Itaú CBD S.A – Crédito, Financiamento e Investimento (“FIC”), in the amount of R$769, see note 11.1, and real state in the amount of R$146.
	ii) Company’s capital stock increase in the amount of R$685 through: a) R$500 in cash; b) R$140 capitalization of amounts payable to GPA; c) R$45 net book assets of stores that may be developed by the Company.
	iii) R$168 regarding to contingent liabilities and related judicial deposits and which the Company and GPA have agreed to be responsible after the spin-off. This indemnity effects were recorded in related parties, see note 10.
	According to the material fact published on November 19, 2020, the Company obtained all necessary authorizations from its creditors, in order to proceed with the segregation of its cash & carry operation through referred spin-off, on the same date, the renegotiation of certain remuneration rates was also approved and the release from GPA as guarantor for the issuance of the Company’s debentures and promissory notes. The total amount of the renegotiated debt was R$6,644, representing 85% of the Company’s gross debt of the Company on December 31, 2020.On the other hand of the renegotiation of the remuneration rates, the Company obtained a “waiver” related to financial covenants for the period of December 31, 2020 up to December 31, 2023 and due to this renegotiation, the amount of R$71 was recognized in the financial result as debt cost.

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1.2.1	Derecognition of Éxito subsidiary
	Éxito’s balance sheet as of December 31, 2020 is presented below. The Company no longer presents consolidated financial statements on December 31, 2020, since the derecognition of Company’s only subsidiary has occurred.
	ASSETS	12/31/2020
	Current
	Cash and cash equivalents	3,687
	Trade receivables	384
	Other accounts receivables	220
	Inventories	2,993
	Recoverable taxes	570
	Other current assets	130
		7,984
	Assets held for sale	30
	Total current assets	8,014
	Non-current
	Related parties	82
	Legal deposits	3
	Other non-current assets	171
	Investments	480
	Investment properties	3,639
	Property, plant and equipment	10,504
	Intangible assets	4,051
	Total non-current assets	18,930
	Total assets	26,944
	LIABILITIES
	Current
	Trade payable	6,449
	Borrowings and financing	1,051
	Payroll and related taxes	375
	Lease liabilities	377
	Related parties	77
	Taxes and social contribution payable	288
	Acquisition of non-controlling interest	636
	Deferred revenues	200
	Dividends payable	40
	Other current liabilities	236
	Total current liabilities	9,729
	Non-current
	Borrowings and financing	520
	Deferrend income tax and social contribution	883
	Provision for legal proceedings	139
	Lease liabilities	2,039
	Other non-current liabilities	39
	Total non-current liabilities	3,620
	SHAREHOLDERS' EQUITY
	Total shareholders' equity	13,595
	Total liabilities and shareholders' equity	26,944
1.3	Impacts of the pandemic on the Company’s interim financial information
	Since December 2019, a new strain of Coronavirus named as COVID-19 has spread across the world. Since then, the Company has been monitoring the spread of COVID-19 and its impacts on its operations. Several actions have been taken by the Company, among them, we appointed a crisis committee composed of senior management, which makes decisions in line with recommendations of the Brazilian Ministry of Health, local authorities, and professional associations.
	The Company implemented all the measures to mitigate the transmission of virus at our stores, warehouses, and offices, such as frequent sanitization, employees’ safety/protection equipment, flexible working hours, and home office, among others.
	Since the beginning of the COVID-19 outbreak, our stores have remained open during periods of general lockdown, as we are considered an essential service. The Company has a strong commitment to society to continue selling essential products to its customers. We did not face supply-side hurdles from industries that continued supplying our distribution centers and stores.
	On March 10, 2020, CVM issued circular letter CVM-SNC/SEP No. 02/2020 and on January 29, 2021 issued circular letter CVM-SNC/SEP No. 01/2021, guiding publicly held Companies to carefully assess the impacts of COVID-19 on their business and report in the interim financial information the main risks and uncertainties as result of such analysis, following the applicable accounting standards.
	In this regard, the Company fully analyzed its financial statements, in addition to updating the analyses of going concern. Below are the key topics analyzed:

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	• The Company reviewed its budget, adopted to estimate the calculation of the recovery of store assets and intangible assets on December 31, 2020, and no significant reductions were seen in revenues, and in other items of the income statement to evidence impairment of these assets. Due to uncertainties concerning the end of the pandemic and its macroeconomic effects, the Company analyzed the indication of impairment for certain assets and, accordingly, updated its impairment tests. There were no new elements in the semester ended June 30, 2021 that the Company's need to review the asset recovery test.
	The recoverable value is determined by calculating the value in use, from cash projections deriving from financial budgets, which were reviewed and approved by senior management for the next three years, considering the assumptions updated for December 31, 2020. The discount rate applied to cash flow projections is 9.8% on December 31, 2020, and the cash flows to exceed three years are extrapolated, applying a growth rate of 4.6% on December 31, 2020. As a result of this analysis, we did not identify the need for recording a provision for impairment of these assets;
	• The Company analyzed the collection of balances of trade receivables from credit card operators, clients, galleries at our stores, property rentals, and concluded that, at this point, it is not necessary to record provisions, in addition to those already recorded;
	• Concerning inventories, the Company does not foresee the need to make a market price adjustment;
	• Financial instruments already reflect the market assumptions in their valuation, there are no additional exposures not disclosed. The Company is not exposed to significant financing denominated in US dollars;
	• At this point, the Company does not foresee additional funding; and
	• Finally, the costs necessary to adapt the Company’s stores to serve the public were not significant.
	In summary, according to Management’s estimates and the monitoring of the impacts of the pandemic, there are no effects that should be recorded in the Company’s interim financial information for de period ended June 30, 2021, nor are there any effects on the continuity and / or estimates of the Company that would justify changes or recording provisions in addition to those already disclosed. The Company will continue to monitor and evaluate the impacts and, if necessary, make the necessary disclosures.
1.4	Going concern analysis
	Management has assessed the Company’s ability to continue operating in a foreseeable future and concluded that Company has ability to maintain its operations and systems working regularly, even in the face of the COVID-19 pandemic (see note 1.3). Therefore, Management is not aware of any material uncertainty that could indicates significant doubts about its ability to continue operating. The interim financial information has been prepared based on the assumption of business continuity.
2	Basis of preparation and disclosure of the individual and consolidated interim financial information
	The individual and consolidated interim financial information have been prepared in accordance with IAS  34 – Interim Financial Reporting issued by International Accounting Standards Board (“IASB”) and accounting standard CPC 21 (R1) – Interim report and disclosed aligned with the standards approved by the Brazilian Securities and Exchange Commission (“CVM”), applicable to the preparation of the Interim Financial Information.
	The interim financial information has been prepared on a historical cost basis except for certain financial instruments measured at their fair value. All relevant information in the financial statements is being evidenced by and corresponds to that used by Management in the administration of the Company.
	The individual and consolidated interim financial information are presented in millions of Brazilian Reais (R$), which is the functional currency of the Company.
	The interim financial information for the six-month period ended June 30, 2021 were approved by the Board of Directors on July 27, 2021.
3	Significant accounting policies
	The main accounting policies and practices applied by the Company to the preparation of the individual and consolidated interim financial information are in accordance with those adopted and disclosed in note 3 and in each explanatory note corresponding to the financial statements for the year ended December 31, 2020, and, therefore, it should be read together.
3.1	Standards, amendments and interpretation
	There were no new standards, amendments and interpretation issued that must be disclosed for the three-month period ended June 30, 2021.
4	Restatement of the interim financial information
4.1	Restatement of the corresponding amounts as result of Éxito’s spin-off
	The consolidated interim financial statement of operations, consolidated statement of added value for the period and the explanatory notes for the six-month period ended June 30, 2020 are being restated due to Éxito subsidiary’s spin-off according to the effects of such transaction in compliance with the accounting standard CPC 31 / IFRS 5 – Non-Current Assets Held for Sale and Discontinued Operation.

19 

	The cash flow statement includes continued and discontinued operations in line with accounting standard CPC 31 / IFRS 5.
	Statement of Operations	Consolidated
		6/30/2020
		Orinally presented	Spin-off effects	Restated
	Net operating revenue	26,411	(10,331)	16,080
	Cost of sales	(21,328)	7,803	(13,525)
	Gross profit	5,083	(2,528)	2,555
	Operating expenses, net
	Selling expenses	(2,657)	1,390	(1,267)
	General and administrative expenses	(639)	441	(198)
	Depreciation and amortization	(584)	346	(238)
	Share of profit (loss) of associates	(41)	41	-
	Other operating expenses, net	(244)	102	(142)
		(4,165)	2,320	(1,845)
	Operating profit before net financial result	918	(208)	710
	Net financial result	(444)	158	(286)
	Income before income taxes from continued operations	474	(50)	424
	Income tax and social contribution	(125)	(14)	(139)
	Net income from continued operations	349	(64)	285
	Discontinued operations
	Net income from discontinued operations	-	64	64
	Net income for the period	349	-	349
	Statement of added value	Consolidated
		6/30/2020
		Orinally presented	Spin-off effects	Restated
	Revenues
	Sales of goods	29,195	(11,570)	17,625
	(Allowance) reversal for doubtful accounts	(10)	9	(1)
	Other revenues	280	43	323
		29,465	(11,518)	17,947
	Products acquired from third parties
	Costs of goods sold	(21,828)	7,399	(14,429)
	Materials, energy, outsourced services and other	(2,111)	979	(1,132)
		(23,939)	8,378	(15,561)
	Gross value added	5,526	(3,140)	2,386
	Retention
	Depreciation and amortization	(646)	394	(252)
	Net value added produced by the Company	4,880	(2,746)	2,134
	Value added received in transfer
	Share of profit (loss) of subsidiaries and associates	(41)	41	-
	Financial revenue	227	(98)	129
		186	(57)	129
	Net income from discontinued operations	-	64	64
	Total value added to distribute	5,066	(2,739)	2,327
	Personnel	1,911	(1,023)	888
	Direct compensation	1,459	(902)	557
	Benefits	317	(86)	231
	Government severance indemnity fund for employees (FGTS)	46	-	46
	Others	89	(35)	54
	Taxes, fees and contributions	2,127	(1,460)	667
	Federal	506	(213)	293
	State	1,530	(1,184)	346
	Municipal	91	(63)	28
	External financiers	679	(256)	423
	Interest	671	(256)	415
	Rental	8	-	8
	Shareholders’ remuneration	349	-	349
	Retained earnings for the period	275	-	275
	Non-controlling interest in retained earnings	74	-	74
	Total added value distributed	5,066	(2,739)	2,327
4.2	Restatement – Earnings per share
	On October 5, 2020, the reverse stock split of 3,269,992,034 (three billion, two hundred sixty-nine million, nine hundred ninety-two thousand and thirty-four) nominative common shares, without nominal value issued by the Company, in the proportion of 12,1854776946393 to compose 1 (one) share (“Reverse Stock Split”) was approved, resulting in the Company’s capital stock divided into 268,351,567 (two hundred sixty-eight million, three hundred fifty-one thousand and five hundred sixty-seven) nominative common shares, without nominal value. The reverse stock split was not reflected in the interim financial information on June 30, 2020, originally issued on October 6, 2020, which disagree with the accounting standard CPC 41 / IAS 33 – Earning per share, resulting in the following restatement:
			6/30/2020
			Originally presented	Reverse stock split effects	Restated
	Basic and diluted number:
	Basic profit allocated and not distributed		275	-	275
	Allocated net income available to ordinary shareholders		275	-	275
	Basic and diluted denominator (million shares)
	Weighted average number of shares		3,141	12.18548	258
	Basic and diluted earnings per million shares (R$)		0.08755	-	1.06589

20 

4.3	Restatement of profit retention reserve and proposed dividends
	In the financial statements as of December 31, 2020, published on February 22, 2021, the legal reserve was constituted in the amount of R$217, exceeding the limit of 20% of the Company’s capital stock as established by art. 193 of Law No. 6,404/1976. The table below presents the impacts of the adjustments for the proper constitution of the legal reserve and proposed dividends and the restatement of the Company’s financial statement, see note 20.2 and 20.3. Below we present the impacts on the balance sheet lines:
							12/31/2020
							Originally presented	Adjustments	Restated
	Current liabilities
	Dividends payable						22	63	85
	Total current liabilities						8,723	63	8,786
	Shareholders' equity
	Legal reserve						217	(65)	152
	Profit retention						428	65	493
	Dividends allocation						(22)	(63)	(85)
	Total Shareholders’ equity						1,410	(63)	1,347
5	Significant accounting judgments, estimates, and assumptions
	The preparation of the individual and consolidated interim financial information requires Management to makes judgments and estimates and adopt assumptions that impact the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the end of the period, however, the uncertainty about these assumptions and estimates could result in substantial adjustments to the carrying amount of asset or liability impacted in upcoming periods.
	The significant assumptions and estimates applied on the preparation of the individual and consolidated interim financial information for the period ended June 30, 2021, were the same as those adopted in the individual and consolidated financial statements for the year ended December 31, 2020.
6	Cash and cash equivalents
							6/30/2021	12/31/2020
	Cash and bank accounts - Brazil						70	64
	Cash and bank accounts - Abroad (*)						23	29
	Financial investments - Brazil (**)						4,418	3,439
							4,511	3,532
	(*) On June 30, 2021, the Company had funds held abroad, being R$23 in US Dollars (R$24 in US Dollars and R$5 in Colombian Pesos on December 31, 2020).
	(**) On June 30, 2021, the financial investments correspond to the repurchase and resale agreements and certificate of deposits, yielded by the weighted average of 98.90% of CDI - Interbank Deposit Certificate (96.96% of CDI on December 31, 2020) and redeemable within terms less than 90 days, as of the date of investment, without losing income.
7	Trade receivables
							Note	6/30/2021	12/31/2020
		From sales with:
		Credit card companies					7.1	68	62
		Credit card companies with related parties					10.1	13	17
		Sales ticket and others						122	77
		Trade receivables with related parties					10.1	20	10
		Trade receivables with suppliers/slips						12	20
		Allowance for doubtful accounts					7.2	(5)	(4)
								230	182
7.1	Credit card companies
	The Company, through the cash management strategy, anticipates the amount receivable with credit card companies, without any right of recourse or related obligation and derecognizes the balance of trade receivables.
7.2	Allowance for doubtful accounts
								6/30/2021	12/31/2020
	At the beginning of the period							(4)	(5)
	Additions							(16)	(12)
	Reversals							15	13
	At the end of the period							(5)	(4)
	Set forth below the breakdown of trade receivables by their gross amount by maturity period:
					Overdue
			Total	Due	Up to 30 days	> 90 days
		6/30/2021	235	231	1	3
		12/31/2020	186	181	2	3			-

21 

8	Inventories
					Note	6/30/2021	12/31/2020
	Stores					3,321	3,416
	Distribution centers				8.1	392	374
	Allowance for loss on inventory obsolescence and damages				8.2	(25)	(51)
						3,688	3,739
8.1	Commercial agreements
	On June 30, 2021, the amount of unrealized commercial agreements, as a reduction of inventory balance, totaled R$474 (R$444 on December 31, 2020).
8.2	Allowance for loss on inventory obsolescence and damages
						6/30/2021	12/31/2020
		At the beginning of the period				(51)	(41)
		Additions				(147)	(140)
		Write-offs				9	8
		Reversals				164	141
		At the end of the period				(25)	(32)
9	Recoverable taxes
					Note	6/30/2021	12/31/2020
		State VAT tax credits - ICMS			9.1	1,205	1,311
		Social Integration Program and Contribution for Social Security Financing - PIS/COFINS			9.2	266	141
		Provision for exclusion of ICMS on PIS/COFINS calculation base			9.2	(51)	-
		Social Security Contribution - INSS			9.3	31	36
		Income tax and social contribution				1	144
		Others				2	2
	Total					1,454	1,634
	Current					683	768
	Non-current					771	866
9.1	State VAT tax credits - ICMS
	Since 2008, the Brazilian States have been substantially amending their local laws aiming at implementing and broadening the ICMS tax replacement system. The referred system implies the prepayment of ICMS throughout the commercial chain, upon goods outflow from a manufacturer or importer or their inflow into the State. The expansion of such system to a wider range of products traded at retail assumes that the trading cycle of these products will end in the State, such that ICMS is fully owed to such State.
	The refund process requires evidence through tax documents and digital files of transactions made, entitling the Company to such a refund. Only after ratification by State tax authorities and/or the compliance with specific ancillary obligations aiming to support such evidence that credits can be used by the Company, which occur in periods after these are generated.
	Since the number of items traded at the retail subject to tax replacement has been continuously increasing, the tax credit to be refunded by the Company has also grown. The Company has been realizing referred credits with authorization for immediate offset with those credits due in view of its operations, through the special regime, also other procedures regulated by state rules.
	With respect to credits that cannot yet be immediately offset, the Company's Management, based on a technical recovery study, based on the future expectation of growth and consequent compensation with taxes payable arising from its operations, believes that its future compensation is viable. The studies mentioned are prepared and periodically reviewed based on information extracted from the strategic planning previously approved by the Company's Board of Directors. For the interim financial information as of June 30, 2021, the Company's management has monitoring controls over adherence to the annually established plan, reassessing and including new elements that contribute to the realization of the ICMS balance to be recovered, as shown in the table below:
	Year		Amount
		Em 1 year		453
		From 1 to 2 years		248
		From 2 to 3 years		260
		From 3 to 4 years		139
		From 4 to 5 years		32
		After 5 years		73
	Total			1,205
9.2	PIS and COFINS credits
	On March 15, 2017, the Federal Supreme Court (“STF”) recognized, as a matter of general repercussion, the unconstitutionality of the inclusion of ICMS in the PIS and COFINS calculation base. On May 13, 2021 judged the Declaration Embargoes in relation to the amount to be excluded from the calculation basis of the contributions, in which case it should only be the ICMS paid, or if the entire ICMS, as shown in respective invoices.

22 

	The STF decided to modulate the effects of the decision, for taxpayers who distributed the lawsuits before March 15, 2017 or with administrative proceedings in progress before that same date, would be have rights to take advantage of the past period. As the decision was rendered in a process with recognized general repercussions, the understanding reached is mandatory for all judges and courts. The Company informs that it had a lawsuit filed on October 31, 2013, having obtained a favorable decision and a final and unappealable decision on July 16, 2021, thus allowing the recognition of the credit for the period covered by the lawsuit.
	The Brazilian Securities and Exchange Commission (CVM) had published Circular Letter No. 01/2021, among other topics, giving recommendations to publicly traded companies regarding the recognition of tax credits arising from the exclusion of ICMS from the PIS calculation basis and of COFINS, recommending that recognition only occur when there is reference, in the final decision, to the period covered in the lawsuit and the amount of ICMS to be excluded, until the decision becomes final.
	On June 30, 2021, regarding available information, the Company partially recorded its right, net of provision, in the amount of R$62 (R$40 in net revenue and R$22 in financial result, arising from monetary correction). Due to the volume of data, the extension of the period to be calculated and the complexity of the calculation, in addition to the rules of the Federal Revenue of Brazil to be attended to determine all the credit to be offset, that is a preliminary estimate and the total amount will be calculated, the Company estimates that the difference between the estimate amount and the amount to be calculated will not be significant. Such provision refers to the period that the Company is calculating and detailing the supporting documentation. The Company will use its best efforts in order to have the definitive recognition in the third quarter of 2021, with the final and unappealable decision, as mentioned above.
	Currently, the Company, according the favorable judgment of the STF, has been recognizing the exclusion of ICMS from the PIS and COFINS calculation basis based on the same assumptions mentioned previously.
9.3	Incidence of social security contributions
	On August 28, 2020, the STF, in general repercussion, recognized as constitutional the incidence of social security contributions (INSS) on the additional one-third of vacation payment. The Company has been monitoring the progress of these issues involving unconstitutionality in social security contributions, and together with its legal advisors, concluded that the elements to date do not impact the recoverability of the respective INSS credits recorded in the amount of R$11 on June 30, 2021 (R$11 on December 31, 2020).
10	Related Parties
10.1	Balances and related party transactions
			Assets				Liabilities
			Clients		Other assets		Suppliers		Other liabilities
			6/30/2021	12/31/2020	6/30/2021	12/31/2020	6/30/2021	12/31/2020	6/30/2021	12/31/2020
	Controlling shareholders
	Euris		-	-	-	-	-	-	1	-
	Casino Guichard Perrachon		10	10	-	-	-	-	-	-
			10	10	-	-	-	-	1	-
	Other related parties
	GPA (i)		10	-	166	168	10	-	103	41
	Greenyellow		-	-	2	-	-	-	-	-
	Joint venture
	Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento (“FIC”)		13	17	11	10	8	11	-	-
			23	17	179	168	10	-	103	41
	Total		33	27	179	168	10	-	104	41
			Parent Company		Consolidated
			Transactions		Transactions
			Revenue (expenses)		Revenue (expenses)
			6/30/2021	6/30/2020	6/30/2021
	Controlling shareholders
	Wilkes Participações S/A		(1)	-	-
	Euris		(1)	-	-
	Casino Guichard Perrachon		(23)	-	-
			(25)	-	-
	Other related parties
	GPA (i)		(89)	(115)	(115)
	FIC		6	4	4
	Compre Bem		(3)	2	2
	Puntos Colombia		-	-	(54)
	Tuya		-	-	11
	Greenyellow		(14)	(2)	(18)
	Grupo Exito		-	-	(10)
		Others	-	-	(1)
			(100)	(111)	(181)
	Total		(125)	(111)	(181)
		(i) Amounts refer to the spin-off and responsibility agreement which the Company assigned related to the corporate reorganization occurred on Decemebr 31, 2020. See note 1.2.

23 

10.2	Management compensation
	Expenses referring to the statutory executive board compensation recorded in the Company’s statement of operations in the periods ended June 30, 2021 and 2020 as follows (amounts expressed in thousands reais):
			Base salary		Variable compensation		Stock option plan		Total
			2021	2020	2021	2020	2021	2020	2021	2020
	Executive officers		16,024	-	-	-	2,125	-	18,149	-
	Board of director		14,660	9,690	7,243	3,513	1,597	2,835	23,500	16,038
	Fiscal council		72	-	-	-	-	-	72	-
			30,756	9,690	7,243	3,513	3,722	2,835	41,721	16,038
	The stock option plan refers to the Company’s executives holding GPA shares and this plan has been treated in the Company’s statement of operations, related expenses are allocated to the Company and recorded in the statement of operations against capital reserve – stock options in shareholders’ equity.
11	Investiments
	The details of the Company's investment at the end of the period are presented below:
								Participation in investments - %
								Direct participation
	Investment type		Company				Country	6/30/2021	12/31/2020
	Joint venture		Bellamar Empreendimento e Participações S.A.				Brazil	50.00	50.00
	Investiments composition and breakdown
						Bellamar
	As of Decemeber 31, 2020					769
	Share of profit and loss of associates					29
	As of June 30, 2021					798
11.1	Acquisition of Bellamar’s participation
	On December 31, 2020, the Company’s shareholders approved through extraordinary general meeting the exchange transaction between GPA and Sendas that comprised the acquisition of 50% of Bellamar’s participation which holds 35.76% of FIC’S capital stock. According to this transaction, the Company indirectly holds hereafter 17.88% of FIC’s capital stock.
	The transaction related to Bellamar’s acquisition was assessed as a joint venture, in accordance with CPC 19 (R2) / IFRS 11 – Joint business.
	Since the acquisition is a joint venture valued through the equity method, the assets identified, and the liabilities assumed are recorded within the investment line.
	Corporate information
	FIC has the practice off entire operations, as permitted by laws and regulamentation, to credit, financing and investments entities, the issuance and management of owned and third parties’ credit cards, as well as the performance of correspondents’ function in the country. FIC’s operations are conducted by Itaú Unibanco Holding S.A.
	In regard with corporate reorganization process involving the Company, see note 1.2, the Company prepared a study in order to evaluate the fair value of intangible assets and the indicative purchase price allocation (“PPA”) related to the minority participation acquisition of 17.88% of FIC’s shares, through Bellamar, by the Company on December 31, 2020.
	Determination of consideration transferred through the acquisition
	The Company transferred to GPA equivalent to 9.07% of Éxito’s shares, corresponding to 39,246,012 (thirty-nine million, two hundred forty-six thousand and twelve) shares.
	Fair value of identified assets and liabilities acquired
	Management hired an independent company to determine the value of FIC’s shares, evaluated in the range of R$4.63 up to R$4.86 per share.
	In order to determine the value of shares during the spin-off process, it was adopted the amount of R$4.74, therefore, on December 31, 2020, the market value of FIC was in the amount of R$4,301, that represents the amount of R$1,538 related to the fair value of Bellamar’s investment on FIC.
	According to the exchange transaction, the Company received 50% of Bellamar’s shares by means of fair value, in amount of R$769.
	Composition of acquisition price
	For the period ended June 30, 2021, the Company concluded the allocation of the acquisition value corresponding to the 17.88% participation in FIC of R$ 769. FIC's identifiable assets and liabilities are demonstrated in the table below.
	Assets acquired and liabilities assumed
		The fair value of FIC's identifiable assets and liabilties on December 31, 2020 (acquisition date) are demonstrated as follows:

24 

	Assets
	Cash and cash equivalents	29
	Marketable securities	22
	Credit operations	6,213
	Other credits	98
	Other receivables	3
	Other credits, non-current	265
	Property, plant and equipment and intangible assets	3,127
	Investments	47
		9,804
	Liabilities
	Deposits	(790)
	Interfinancial relations	(2,457)
	Other liabilities	(2,256)
		(5,503)
	Total fair value of identifiable net assets	4,301
	Company's participation	17.88%
	Acquisition price	769
	Book shareholders's equity acquired	(211)
	Fair value adjustment - intangible assets	(388)
	Unallocated portion	170
11.2	Joint venture
	The Company’s investment in Bellamar is recognized as a joint venture and is recorded through the equity method, in accordance with account standard CPC 18 / IAS 28 – Investments in associates and joint ventures. Based on equity method, the investment in a joint venture should be recognized by the cost, on the beginning. The account value of investment is adjusted for variation recognition purposes related to Company’s participation on shareholders’ equity of joint venture after the acquisition date.
	The joint venture’s interim financial information is prepared on the same period basis of disclosure that the Company. When necessary, adjustments are made to ensure that polices are aligned with the Company’s.
	After the method equity is applied, the Company determines if it is necessary recognize additional loss of recuperable value over investments related to the joint venture. The Company will determine, on each annual closing date of balance sheet, if exists objective evidence that means the investment on joint venture suffered loss due to the reduction of recuperable value. In case of such loss is identified, the Company calculates the value of loss due to the reduction of recuperable value as a difference between the joint venture’s recuperable value and the carrying amount and recognizes the loss on its statement of operations. On December 31, 2020, the analysis was not made by the Company, since on this date, the Company recognized the initial participation, regarding explanation on note 11.1.

25 

12	Property, plant and equipment
12.1	Property, plant and equipment breakdown
		As of Decemeber 31, 2020	Additions	Remeasurment	Write-off	Depreciation	Transfers and others (i)	As of June 30, 2021
	Lands	481	26	-	-	-	(33)	474
	Buildings	609	58	-	-	(7)	1	661
	Improvements	2,598	423	-	(1)	(86)	(68)	2,866
	Equipment	635	83	-	(1)	(62)	(1)	654
	Facilities	269	31	-	-	(12)	1	289
	Furnitures and appliances	340	28	-	(1)	(25)	6	348
	Constructions in progress	78	111	-	-	-	(64)	125
	Others	37	2	-	-	(7)	7	39
	Subtotal	5,047	762	-	(3)	(199)	(151)	5,456
	Lease - right of use:
	Buildings	2,423	206	231	(66)	(113)	4	2,685
	Equipment	6	16	-	-	(3)	-	19
	Subtotal	2,429	222	231	(66)	(116)	4	2,704
	Total	7,476	984	231	(69)	(315)	(147)	8,160
		As of December 31, 2019	Additions	Remeasurment	Write-off	Depreciation	Transfers and others (ii)	As of June 30, 2020
	Lands	450	38	-	(100)	-	(114)	274
	Buildings	846	32	-	(168)	(6)	(163)	541
	Improvements	1,849	319	-	(62)	(68)	280	2,318
	Equipment	548	72	-	(2)	(51)	(8)	559
	Facilities	265	14	-	(16)	(10)	(13)	240
	Furnitures and appliances	290	22	-	-	(21)	10	301
	Constructions in progress	37	47	-	(5)	-	(46)	33
	Others	35	2	-	-	(6)	6	37
	Subtotal	4,320	546	-	(353)	(162)	(48)	4,303
	Lease - right of use:
	Buildings	1,700	441	99	(59)	(80)	5	2,106
	Equipment	5	-	-	-	-	-	5
	Subtotal	1,705	441	99	(59)	(80)	5	2,111
	Total	6,025	987	99	(412)	(242)	(43)	6,414
	(i) On the six-month period ended June 30, 2021, the transfer column presents the transfer between fixed assets to "assets held for sale" in amount of R$147, see note 28.2.
	(ii) On the six-month period ended June 30, 2020, the transfer column presents: (a) the capital contribution through GPA’s real state in the amount of R$57 and (b) the transfer of fixed assets to “assets held for sale” in amount of R$106.

12.2	Composition of Property, plant and equipment
		6/30/2021			12/31/2020
		Historical cost	Accumulated depreciation	Net amount	Historical cost	Accumulated depreciation	Net amount
	Lands	474	-	474	481	-	481
	Buildings	759	(98)	661	704	(95)	609
	Improvements	3,555	(689)	2,866	3,203	(605)	2,598
	Equipment	1,138	(484)	654	1,061	(426)	635
	Facilities	385	(96)	289	354	(85)	269
	Furnitures and appliances	543	(195)	348	513	(173)	340
	Constructions in progress	125	-	125	78	-	78
	Others	110	(71)	39	101	(64)	37
		7,089	(1,633)	5,456	6,495	(1,448)	5,047
	Financial lease
	Buildings	3,540	(855)	2,685	3,205	(782)	2,423
	Equipment	62	(43)	19	47	(41)	6
		3,602	(898)	2,704	3,252	(823)	2,429
	Total property, plant and equipment	10,691	(2,531)	8,160	9,747	(2,271)	7,476

26 

12.3	Capitalized borrowing costs
	The capitalized borrowing costs for the six-month periods ended on June 30, 2021 were R$7 (R$3 on June 30, 2020). The rate used for the capitalization of borrowing costs was 155.25% (140.78% on June 30, 2020) of CDI, corresponding to the effective interest rate of loans taken by the Company.
12.4	Additions to property, plant and equipment for cash flow presentation purpose are as follows
			6/30/2021	6/30/2020
	Additions		984	987
	Leases		(222)	(441)
	Capitalized interest		(7)	(3)
	Financing of property and equipment - Additions		(711)	(478)
	Financing of property and equipment - Payments		695	506
	Total		739	571
	(i) Additions related to the acquisition of operating assets, purchase of land and buildings to expansion activities, building of new stores, improvements of existing distribution centers and stores and investments in equipment and information technology.
	(ii) The additions and payments of property, plant and equipment above are presented to reconcile the acquisitions during the period with the amounts presented in the statement of cash flows net of items that did not impact cash flow.
12.5	Other information
	On June 30, 2021, the Company recorded in the cost of sales and services the amount of R$25 (R$15 on June 30, 2020), relating to the depreciation of machinery, building and facilities of distribution centers.
13	Intangible
		12/31/2020	Additions	Amortization	6/30/2021
	Goodwill	618	-	-	618
	Softwares	70	7	(6)	71
	Commercial rights	310	12	(3)	319
	Tradename	39	-	-	39
		1,037	19	(9)	1,047
		12/31/2019	Additions	Amortization	Transfers	6/30/2020
	Goodwill	618	-	-	-	618
	Softwares	64	7	(8)	1	64
	Commercial rights	312	6	(2)	-	316
	Tradename	39	-	-	-	39
		1,033	13	(10)	1	1,037
		6/30/2021			12/31/2020
		Historical cost	Accumulated amortization	Net amount	Historical cost	Accumulated amortization	Net amount
	Goodwill	871	(253)	618	1,741	(1,123)	618
	Softwares	132	(61)	71	126	(56)	70
	Commercial rights	339	(20)	319	327	(17)	310
	Tradename	39	-	39	39	-	39
	Total intangible	1,381	(334)	1,047	2,233	(1,196)	1,037
13.1	Impairment test of intangible assets with an indefinite useful life, including goodwill
	The impairment test of intangible assets uses the same practices described in note 16 as part of individual and consolidated financial statements as of December 31, 2020.
	On December 31, 2020, the Company revised the plan used to assess impairment for Cash Generating Units (CGUs) and there is no significant deviation which could indicates losses or the need of a new evaluation for the period ended June 30, 2021. See the considerations related to the COVID-19 pandemic effects in note 1.3.
14	Trade payable, net
			Note	6/30/2021	12/31/2020
	Product suppliers			4,726	5,450
	Service providers			71	85
	Service providers - related parties		10.1	18	11
	Bonuses from suppliers		14.1	(310)	(488)
	Total			4,505	5,058
14.1	Commercial agreements
	Such agreements include discounts obtained from suppliers. Those amounts are defined according to contracts agreements and include discounts based on purchase volume, joint marketing actions, logistics refund and others. The receipt occurs through the offset of outstanding invoices regarding supply agreement, therefore, the financial liquidity occur by the net amount.

27 

15	Financial instruments
	The main financial instruments and their amounts recorded in the interim financial information, by category, are as follows:
		Note	6/30/2021	12/31/2020
	Financial assets
	Amortized cost
	Related parties - assets	10	179	178
	Trade receivables and other accounts receivable		113	117
	Fair value through income
	Cash and cash equivalentes	6	4,511	3,532
	Financial instruments - fair value hedge – long position	15.7	2	68
	Fair value through other comprehensive income
	Trade receivables with credit card companies and sales tickets		151	99
	Financial liabilities
	Other financial liabilities - amortized cost
	Related parties - liabilities	10	(104)	(41)
	Trade payables	14	(4,505)	(5,058)
	Financing through acquisition of assets		(51)	(34)
	Borrowings and financing	15.7	(893)	(897)
	Debenture	15.7	(8,291)	(6,599)
	Lease liabilities	17	(3,091)	(2,776)
	Fair value through income
	Borrowings and financing, including derivatives	15.7	(318)	(335)
	Financial instruments - fair value hedge – short position	15.7	(33)	-
	Net exposure		(12,330)	(11,746)
	The fair value of other financial instruments described on the table above approximates to the carrying amount based on the existing payments terms. Financial instruments measured at amortized cost, whose fair values differ from book value are disclosed in note 15.4.
15.1	Considerations on risk factors that may affect the Company's business
15.1.1	Credit Risk
	• Cash and cash equivalents
	In order to minimize credit risks, the Company adopts investments policies at financial institutions approved by the Company’s Financial Committee, also taking into consideration monetary limits and financial institution evaluations, which are regularly updated.
	• Trade receivables
	Credit risk related to trade receivables is minimized by the fact that a large portion of sales are paid with credit cards, and the Company sells these receivables to banks and credit card companies, aiming to strengthen working capital. The sales of receivables result in derecognition of the accounts receivable due to the transfer of the credit risk, benefits and control of such assets. Additionally, regarding the trade receivables collected in installments, the Company monitor the risk through the credit concession and by periodic analysis of the provision for losses.
	The Company also has counterparty risk related to derivative instruments, which is mitigated by the Company carrying out transactions, according to policies approved by governance boards.
	There are no amounts receivable or sales that are individually, higher than 5% of trade receivables or sales, respectively.
15.1.2	Interest rate risk
	The Company obtains borrowings and financing with major financial institutions for cash needs for investments. As a result, the Company is mainly exposed to relevant interest rates fluctuation risk, especially in view of derivatives liabilities (foreign currency exposure hedge) and CDI Indexed debts. The balance of cash and cash equivalents, indexed to CDI, partially offsets the interest rate risk.
15.1.3	Foreign currency exchange rate risk
	The Company is exposed to exchange rate fluctuations, which may increase outstanding balances of foreign currency-denominated borrowings. The Company uses derivatives, such as swaps, aiming to mitigate the foreign currency exchange rate risk, converting the cost of debt into domestic currency and interest rates.
15.1.4	Capital risk management
	The main objective of the Company’s capital management is to ensure that the Company maintains its credit rating and a well-balanced equity ratio, in order to support businesses and maximize shareholder value. The Company manages the capital structure and adjusts taking into account changes in the economic conditions.
	The capital structure is thus demonstrated:
		6/30/2021	12/31/2020
			Restated
	Borrowings, financing and debentures	(9,535)	(7,831)
	(-) Cash and cash equivalents	4,511	3,532
	(-) Derivative financial instruments	2	68
	Net debt	(5,022)	(4,231)
	Shareholders’ equity	1,917	1,347
	% Net debt over Shareholders’ equity	262%	314%

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15.1.5	Liquidity risk management
	The Company manages liquidity risk through the daily analysis of cash flows and maturities of financial assets and liabilities.
	The table below summarizes the aging profile of the Company’s financial liabilities as of June 30, 2021.
		Less than 1 year	1 to 5 years	More than 5 years		Total
	Borrowings and financing	1,251	429	24		1,704
	Debenture	2,287	6,035	1,760		10,082
	Derivative financial instruments	(4)	(9)	(2)		(15)
	Lease liabilities	497	2,163	3,175		5,835
	Trade payable	4,505	-	-		4,505
	Total	8,536	8,618	4,957		22,111
	The table above was prepared considering the undiscounted cash flows of financial liabilities based on the earliest date the Company may be required to make a payment or be eligible to receive a payment. To the extent that interest rates are floating, the non-discounted amount is obtained based on interest rate curves for the period ended June 30, 2020. Therefore, certain balances are not consistent with the balances reported in the balance sheet.
15.2	Derivative financial instruments
			Reference value		Fair value
			6/30/2021	12/31/2020		6/30/2021	12/31/2020
	Swap with hedge accounting
	Hedge purpose (debt)		388	309		318	335
	Long Position
	Fixed rate		106	106		67	72
	USD + Fixed		282	203		251	263
	Short Position		(388)	(309)		(349)	(267)
	Net hedge position		-	-		(31)	68
	Realized and unrealized gains and losses on these contracts during the six-month period ended June 30, 2021, are recorded as financial income or expenses and the balance payable at fair value is R$31 (balance receivable of R$68 as of December 31, 2020). Assets are recorded as “financial instruments” and liabilities as “borrowings and financing”.
	The effects of the fair value hedge recorded in the statement of operations for the six-month periods ended June 30, 2021, resulted in a loss of R$23, recorded under debt of cost, note 24 (gain of R$104 as of June 30, 2020).
15.2.1	Fair values of derivative financial instruments
	Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.
	Fair values are calculated using projected the future cash flow, using the CDI curves and discounting to present value, using CDI market rates for swap both disclosed by the B3.
	The fair value of exchange coupon swaps versus CDI rate was determined based on market exchange rates effective at the date of the financial statements and projected based on the currency coupon curves.
	In order to calculate the coupon of foreign currency indexed-positions, the straight-line convention - 360 consecutive days was adopted and to calculate the coupon of CDI indexed-positions, the exponential convention - 252 business days was adopted.
15.3	Sensitivity analysis of financial instruments
	According to Management’s assessment, the most probable scenario is what the market has been estimating through market curves (currency and interest rates) of the B3, on the maturity dates of each transaction.
	Therefore, in the probable scenario (I) there is no impact on the fair value of financial instruments. For scenarios (II) and (III), for the exclusive effect, a deterioration from 25% to 50% was taken into account, respectively, on risk variables, up to one year of financial instruments.
	For a probable scenario, the weighted exchange rate was R$5.28 on the due date, and the interest rate weighted was 6.58% per year.
	In the case of derivative financial instruments (aiming at hedging the financial debt), changes in scenarios are accompanied by respective hedges, indicating that the effects are not significant.
	The Company disclosed the net exposure of derivative financial instruments, each of the scenarios mentioned above in the sensitivity analysis as follows:
							Market projections
	Transactions		Risk (CDI Increase)			As of 6/30/2021	Scenario (I)	Scenario (II)	Scenario (III)
	Borrowings and financing		CDI + 2% per year			(1,155)	(80)	(100)	(120)
	Fixed rate swap contract (Passive Tip)		CDI + 0,03% per year			(64)	(49)	(52)	(55)
	Exchange swap contract (Passive Tip)		CDI + 1,35% per year			(284)	(22)	(28)	(34)
	Debentures		CDI + 1,93% per year			(8,282)	(541)	(677)	(812)
	Total net effect (loss)					(9,785)	(692)	(857)	(1,021)
	Cash equivalents		98.90%			4,511	248	310	372
	Net exposure loss:					(5,274)	(444)	(547)	(649)

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15.4	Fair values measurement
	The Company discloses the fair value of financial instruments measured at fair value and of financial instruments measured at amortized cost, the fair value of which differ from the carrying amount, in accordance with CPC46 / IFRS13, which refer to the requirements of measurement and disclosure. The fair value hierarchy levels are defined below:
	Level 1: fair value measurement at the balance date considering quoted (unadjusted) market prices in active markets for identical assets or liabilities which the Company can access at the measure date.
	Level 2: Valuation techniques for which the lowest level inputs that is significant to the fair value measurement is directly or indirectly observable, except for quoted prices included on Level 1.
	Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
	The fair values of trade receivables and trade payables approximate their carrying amounts.
	The table below sets forth the fair value hierarchy of financial assets and liabilities measured at fair value of financial instruments measured at amortized cost, for which the fair value has been disclosed in the interim financial information:
			Carrying amount		Fair value
			6/30/2021	12/31/2020	6/30/2021	12/31/2020	Level
	Trade receivables with credit cards companies and sales vouchers		151	99	151	99	2
	Swaps of annual rates between currencies		(33)	57	(33)	57	2
	Interest rate swaps		2	11	2	11	2
	Borrowings and financing (fair value)		(318)	(335)	(351)	(335)	2
	Borrowings and financing (amortized cost)		(9,184)	(7,496)	(8,397)	(6,529)	2
			(9,382)	(7,664)	(8,628)	(6,697)
	There were no changes between fair value measurement hierarchy levels during the period ended June 30, 2021.
	Interest rate swaps, cross-currency and borrowings and financing are classified in level 2 since the fair value of such financial instruments was determined based on readily observable inputs, such as expected interest rate and current and future foreign exchange rate.
15.5	Operations with derivative financial instruments
	The Company has derivative contracts with the following financial institutions: Itaú BBA ans Scotiabank
	The outstanding derivative financial instruments are presented in the table below:
	Description	Reference value		Maturity		6/30/2021	12/31/2020
	Debt
	USD - BRL	US$ 50		2021		-	57
	USD - BRL	USD 50		2023		(33)	-
	Interest rate swaps registered at CETIP
	Pre-fixed rate x CDI	R$ 54		2027		4	5
	Pre-fixed rate x CDI	R$ 52		2027		(2)	6
	Derivatives - Fair value hedge - Brazil					(31)	68
15.6	Borrowings and financing
15.7	Debt composition
		Weighted average	6/30/2021	12/31/2020
	Current
	Debenture and promissory notes
	Debenture and promissory notes	CDI + 1,73% per year	1,954	1,864
	Borrowing costs		(23)	(24)
	Total debenture and promissory notes		1,931	1,840
	Borrowings and financing
	In national currency
	Working capital	TR + 9,80%	10	12
	Working capital	CDI + 2% per year	253	9
	Borrowing costs		(5)	(5)
	Total national currency		258	16
	In foreign currency
	Working capital	CDI + 1,25% aper year	2	264
	Total in foreign currency		2	264
	Total of borrowings and financing		260	280
	Derivative financial instruments
	Swap contracts	CDI + 1,35% per year	-	(57)
	Total derivative financial instruments		-	(57)
	Total current		2,191	2,063

30 

				Weighted average	6/30/2021	12/31/2020
	Non-current
	Debenture and promissory notes
	Debenture and promissory notes			CDI + 1,99% per year	6,374	4,780
	Borrowing costs				(14)	(21)
	Total debenture and promissory notes				6,360	4,759
	Borrowings and financing
	In national currency
	Working capital			TR + 9,80%	57	60
	Working capital			CDI + 2% per year	650	901
	Borrowing costs				(6)	(9)
	Total of national currrency				701	952
	In foreign currency
	Working capital				250	-
	Total of foreign currency				250	-
	Total national currency				951	952
	Derivative financial instruments
	Swap contracts			CDI + 0,03% per year	(2)	(11)
	Swap contracts			CDI + 1,35% per year	33	-
	Total derivative financial instruments				31	(11)
	Total of non-current				7,342	5,700
	Total				9,533	7,763
	Current asset				-	57
	Non-current asset				2	11
	Current liabilities				2,191	2,120
	Non-current liabilities				7,344	5,711
15.8	Rollforward of borrowings and financing
				Amount
	Balance on Decemeber 31, 2019			8,467
	Funding			599
	Interest provision			222
	Swap contracts			(72)
	Mark-to-market			(2)
	Exchange rate and monetary variation			71
	Borrowing costs			21
	Interest amortization			(257)
	Principal amortization			(1,223)
	Swap amortization			2
	Balance on June 30, 2020			7,828
				Amount
	Balance on Decemeber 31, 2020			7,763
	Funding			1,874
	Interest provision			195
	Swap contracts			89
	Mark-to-market			7
	Exchange rate and monetary variation			(24)
	Debt modification effect IFRS 9			(23)
	Borrowing costs			18
	Interest amortization			(96)
	Principal amortization			(273)
	Swap amortization			3
	Balance on June 30, 2021			9,533
15.9	Schedule of non-current maturities
		Maturity	Amount
		From 1 to 2 years	3,091
		From 2 to 3 years	3,104
		From 3 to 4 years	569
		From 4 to 5 years	352
		After 5 years	246
		Total	7,362
		Borrowing cost	(20)
		Total	7,342
			-

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15.10	Debenture and promissory notes
					Date
		Type	Issue amount	Outstanding debentures (units)	Issue	Maturity	Annual financial charges	Unit price (in Reais)	6/30/2021	12/31/2020
	First Issue of Promissory Notes - 2nd series	Non-preemptive right	50	1	4/7/2019	5/7/2021	CDI + 0,72% per year	52,998,286	54	53
	First Issue of Promissory Notes - 3rd series	Non-preemptive right	50	1	4/7/2019	4/7/2022	CDI + 0,72% per year	52,998,286	54	53
	First Issue of Promissory Notes - 4th series	Non-preemptive right	250	5	4/7/2019	4/7/2023	CDI + 0,72% per year	52,998,286	271	267
	First Issue of Promissory Notes - 5th series	Non-preemptive right	200	4	4/7/2019	4/7/2024	CDI + 0,72% per year	52,998,286	217	214
	First Issue of Promissory Notes - 6th series	Non-preemptive right	200	4	4/7/2019	4/7/2025	CDI + 0,72% per year	52,998,286	217	213
	First Issue of Debentures - 2nd series	Non-preemptive right	2,000	200,000	4/9/2019	08/20/2021	CDI + 2,34% per year	876	1,779	1,762
	First Issue of Debentures - 3rd series	Non-preemptive right	2,000	200,000	4/9/2019	08/20/2022	CDI + 2,65% per year	1,004	2,055	2,033
	First Issue of Debentures - 4th series	Non-preemptive right	2,000	200,000	4/9/2019	08/20/2023	CDI + 3% per year	1,005	2,076	2,049
	Second Issue of Debentures - 1st series	Non-preemptive right	940,000	940,000	1/6/2021	05/22/2026	CDI + 1,70% per year	1,005	943	-
	Second Issue of Debentures - 2nd series	Non-preemptive right	600,000	600,000	1/6/2021	05/22/2028	CDI + 1,95% per year	1,005	662	-
	Borrowing cost								(37)	(45)
									8,291	6,599
	Current								1,931	1,840
	Non-current								6,360	4,759
	The Company issues debentures to strengthen its working capital, maintain its cash strategy, lengthen its debt profile and make investments. The debentures issued are unsecured, without renegotiation clauses and not convertible into shares.
15.11	Guarantees
	The company signed promissory notes for certain borrowings agreements.
15.12	Swap contracts
	The Company uses swap operations for 100% of its borrowings denominated in US dollars and fixed interest rates, exchanging these liabilities for Real linked to CDI (floating) interest rates. The annual weighted average rate on June 30, 2021 was 2.64% of CDI (2.76% on December 31, 2020).
15.13	Financial convenants
	In connection with the debentures and promissory notes issued and part of loan operations denominated in foreign currencies, the Company is required to maintain certain financial ratios. These ratios are calculated quarterly based on the Company’s consolidated financial statements drawn up in accordance with the accounting practices adopted in Brazil, as follows: (i) consolidated net debt / equity less than or equal to 5.0 not exceeding equity; and (ii) consolidated net debt/EBITDA ratio should be lower than or equal to 3.25.
	Also, the instrument of the 1st issuance of the Company’s debentures provides for a restrictive covenant that determines limits for distribution of dividends above the legal minimum and higher indebtedness for the acquisition of other entities.
	On June 30, 2021, the Company was compliant with those ratios. In addition, the Company has been complying with all restrictive covenants, and, over the last three years ended on December 31, 2020, no event occurred that would require the Company to accelerate the payment of its debts.
16	Provision for legal proceedings
	The provision for legal proceedings is estimated by the Company and it is corroborated by its legal advisors, and such provision is recorded in sufficient amount to settle losses assessed and classified as probable.
		Tax claims	Social  security and labor	Civil	Total
	Balance as of Decemeber 31, 2020	169	64	49	282
	Additions	48	24	3	75
	Reversal	(82)	(10)	(7)	(99)
	Payments	-	(9)	(10)	(19)
	Monetary correction	4	3	5	12
	Balance as of June 30, 2021	139	72	40	251
		Tax claims	Social  security and labor	Civil	Total
	Balance as of Decemeber 31, 2019	143	61	36	240
	Additions	-	5	3	8
	Reversal	(1)	(4)	(6)	(11)
	Payments	-	(1)	(1)	(2)
	Monetary correction	1	4	1	6
	Balance as of June 30, 2020	143	65	33	241
16.1	Tax claims
	Tax claims are subject by law to the monthly monetary correction, which refers to an adjustment to the provision based on indexing rates adopted by each tax jurisdiction. Both interest rates charges and fines, where applicable, were calculated and provisioned with respect to unpaid amounts.

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	The main tax claims provisioned are as follows:
	The Company has other tax claims, which according to its legal counsels’ analysis, were provisioned, namely: (i) discussions on the non-application of Prevention Accident Factor (FAP); (ii) discussions with State tax authorities on ICMS tax rate calculated in electricity bills; (iii) staple basket; (iv) IPI on resale of imported goods and (v) other matters.
	The provisioned amount on June 30, 2021, for these matters is R$139 (R$169 on December 31, 2020).
16.2	Social security and labor
	The Company is a party to various labor proceedings, especially due to dismissals in the regular course of business. On June 30, 2021, the Company recorded a provision of R$72 (R$64 on December 31, 2020), referring to a potential risk of loss relating to labor claims. Management, with the assistance of its legal counsels, assesses these claims and recording provisions for losses when reasonably estimated, considering previous experiences in relation to amounts claimed.
16.3	Civel
	The Company is party to civil proceedings (indemnifications, collections, among others) at in different procedural phases and various central courts. Management records provisions in amounts considered sufficient to cover unfavorable court decisions when its internal and external legal counsel assess the losses to be probable.
	Among these proceedings, we highlight the following:
	The Company is party to various lawsuits requesting the renewal of rental agreements and the review of the current rent paid. The Company records a provision for the difference between the amount originally paid by stores and the amounts claimed by the adverse party in the lawsuit when internal and external legal counsels consider the probability of changing the lease amount paid by the entity. On June 30, 2021, the provision for these lawsuits amounted to R$9 (R$23 on December 31, 2020), for which there are no judicial deposits for legal proceedings.
	The Company is party to certain lawsuits relating to the fines applied by inspection bodies of direct and indirect administration of the federal government, states, and municipalities, including consumer defense bodies (PROCONs, INMETRO, and local governments). The Company, assisted by its legal counsel, assesses these claims recording provisions for probable cash disbursements, according to the probability of loss. On June 30, 2021, the provision for these lawsuits is R$5 (R$5 on December 31, 2020).
	The Company’s total civil and regulatory claims on June 30, 2021, is R$40 (R$49 on December 31, 2020).
16.4	Possible contingent liabilities
	The Company is party to other litigations for which the probability of loss was deemed by its legal counsel to be possible, but not probable, therefore, not accrued, totaling an updated amount of R$2,313 on June 30, 2021 (R$2,408 on December 31, 2020). Accordingly, no provisions were recorded in connection with these proceedings, which are mainly related to:
	IRPJ (corporate income tax), IRRF (withholding income tax), CSLL (social contribution on net income) – The Company received several tax assessment notices relating to tax offsetting proceedings, goodwill disallowance, disagreements regarding payments and overpayments, fines due to non-compliance with ancillary obligation, among other less relevant issues. The amount involved corresponds to R$469 on June 30, 2021 (R$466 on December 31, 2020).
	COFINS, PIS (federal taxes on gross revenues) – The Company has been questioned about discrepancies in payments and overpayments; fine due to non-compliance with ancillary obligation, disallowance of COFINS and PIS credits, among other issues. These proceedings are pending judgment at the administrative and judicial levels. The amount involved in these tax assessments is R$629 as of June 30, 2021 (R$632 on December 31, 2020).
	ICMS (State VAT) – The Company received tax assessment notices from State tax authorities in connection with credits from purchases from suppliers’ acquisitions considered unqualified by the registry of the State Revenue Service, among others matters. These tax assessments amount to R$1,124 on June 30, 2021 (R$1,235 on December 31, 2020). These proceedings are pending final judgment at the administrative and judicial levels.
	ISS (services tax), IPTU (urban property tax), Fees and other – The Company has received tax assessments relating to discrepancies in payments of IPTU, fines due to non-compliance with ancillary obligations, ISS – refund of advertising expenses and various fees, totaling R$12 on June 30, 2021 (R$13 on December 31, 2020). These proceedings are pending judgment at the administrative and judicial levels.
	INSS (national institute of social security) – The Company was assessed due to the levy of payroll charges over benefits granted to its employees, among other issues, with possible losses of R$22 on June 30, 2021 (R$21 on December 31, 2020). Proceedings have been discussed in the administrative and judicial levels.
	Other litigation– These proceedings refer to real estate lawsuits in which the Company claims the renewal of lease agreements and rents according to market prices. These lawsuits involve proceedings litigated in civil court, and special civil court, as well as administrative proceedings filed by inspection bodies, such as the consumer defense body (PROCONs), the National Institute of Metrology, Standardization and Industrial Quality– INMETRO, the National Agency of Sanitary Surveillance - ANVISA, among others, totaling R$43 on June 30, 2021 (R$24 on December 31, 2020).

33 

	The Company engages external legal counsel to represent it in the tax assessments, whose fees are contingent on the final outcome of the lawsuits. Percentages may vary according to qualitative and quantitative factors of each proceeding, on June 30, 2021, the estimated amount, in case of success of all lawsuits, was approximately R$14 (R$17 on December 31, 2020).
16.5	Guarantees
	The Company granted guarantees to judicial process related a civil, tax and labor nature, described below:
	Lawsuits	Letter of guarantees
	Tax claims	456
	Social security and labos	105
	Civil and others	53
	Total	614
	The guarantees cost is aproximately 0.37% per year of the value of the lawsuits and it is registered as expense in the course of time.
16.6	Deduction of ICMS from the calculation basis of PIS and COFINS
	Since the adoption of the non-cumulative regime to calculate PIS and COFINS, the Company has claimed the right to deduct ICMS taxes from the calculation basis of PIS and COFINS. On March 15, 2017, the Federal Supreme Court (STF) recognized, in terms of general repercussion, the unconstitutionality of including ICMS in the PIS and COFINS calculation basis. In May 2021, the STF Plenary judged the Declaration Embargoes, in relation to the amount to be excluded from the PIS and COFINS calculation basis, if it should only be the ICMS paid, or if all the ICMS highlighted in the invoices, the STF issued a favorable decision to the taxpayers, concluding that all outstanding ICMS should be excluded from the PIS and COFINS calculation basis.
	Since of such decision on March 15, 2017, the procedural progress has been as anticipated by our legal advisors without any change in the management's judgment. On July 16, 2021, the Company obtained a favorable decision in its individual legal proceeding, with the decision the Company will revisit the rationale adopted in the reliable measurement, in order to ensure that the calculations are in accordance with the final decision. See note 9.2.
16.7	Restricted deposits for legal proceedings
	The Company is challenging the payment of certain taxes, contributions, and labor liabilities and made judicial deposits in the corresponding amounts, as well as escrow deposits related to the provision for legal proceedings.
	The Company recorded amounts referring to judicial deposits in its assets as follows.
	Lawsuits	6/30/2021	12/31/2020
	Tax claims	65	64
	Social security and labor	64	67
	Civil and others	3	3
	Total	132	134
17	Leases
17.1	Minimum future payments and potential right of PIS and COFINS
	Leasing agreements totaled R$ 3,091 on June 30, 2021 (R$ 2,776 on December 31, 2020). The minimum future payments as leases, by leases term and with the fair value of minimum lease payments, are as follows:
					6/30/2021	12/31/2020
	Financial lease liabilities - minimum payments
	Less than 1 year				213	172
	1 to 5 years				1,009	866
	More than 5 years				1,869	1,738
	Present value of financial lease agreements				3,091	2,776
	Future financing charges				2,744	2,478
	Gross amount of financial lease agreements				5,835	5,254
	PIS and COFINS embedded in the present value of lease agreements				188	169
	PIS and COFINS embedded in the gross value of lease agreements				355	319
	Lease liabilities interest expense is stated in note 24. The incremental interest rate of the Company on the signing date of the agreement was 10.12% in the period ended June 30, 2021 (9.72% on December 31, 2020).
	If the Company had adopted the projection of inflation imbedded in the nominal incremental rate and converting to a present value as a calculation method, the average percentage of inflation to be project for year will be 3.47% approximately. The average term of the agreements analyzed is 15.5 years.
17.2	Lease obligation rollforward
				Amount
	As of Decemeber 31, 2019			1,885
	Funding - Lease			441
	Remeasurement			99
	Interest provision			104
	Amortization			(147)
	Write-off due to early termination of agreement			(4)
	Aquisition of partnership			8
	As of June 30, 2020			2,386
	Current			135
	Non-current			2,251
				Amount
	As of Decemeber 31, 2020			2,776
	Funding - Lease			222
	Remeasurement			231
	Interest provision			137
	Amortization			(201)
	Write-off due to early termination of agreement			(74)
	As of June 30, 2021			3,091
	Current			213
	Non-current			2,878

34 

17.3	Lease expense on variable rents, low-value, and short-term assets
		Parent Company	Parent Company and Consolidated
		6/30/2021	12/31/2020
	(Expenses) revenues of the period:
	Variables (1% of sales)	(4)	(8)
	Subleases (*)	13	8
	(*) It refers mainly to the revenue from rental contracts to be received from commercial galleries.
18	Deferred  revenues
			6/30/2021	12/31/2020
	Back Lights		93	186
	Checkstand		21	29
	Gift card		1	2
	Marketing		21	11
	Others		4	-
	Total		140	228
	Current		139	227
	Non-current		1	1
	The Company received in advance amounts referring to the rental of backlight panels, supplier product exhibition modules, or check stands, rental of displays, and front-fee anticipation with credit card operators.
19	Income tax and social contribution
19.1	Reconciliation of income tax and social contribution expense
					Parent Company		Consolidated
					6/30/2021	6/30/2020	6/30/2020
							Restated
	Earnings before income tax and social contribution				800	414	424
	Expense of income tax and social contribution at nominal rate				(272)	(141)	(144)
	Adjustments to reflect the effective rate
	Tax fines				(1)	-	-
	Share of profits				10	(3)	-
	Tax benefits				8	10	10
	Other permanent differences				-	(5)	(5)
	Effective income tax				(255)	(139)	(139)
	Income tax and social contribution for the period
	Current				(265)	(261)	(261)
	Deferred				10	122	122
	Income tax and social contribution expenses				(255)	(139)	(139)
	Effective tax				31.9%	33.6%	32.8%
19.2	Breakdown of deferred income tax and social contribution
	Key components of deferred income tax and social contribution in the balance sheet are the following:
				6/30/2021			12/31/2020
				Assets	Liabilities	Net	Assets	Liabilities	Net
	Deferred income tax and social contribution
	Provision for legal proceedings			67	-	67	81	-	81
	Exchange rate variation			1	-	1	26	-	26
	Goodwil tax amortization			-	(318)	(318)	-	(315)	(315)
	Mark-to-market adjustment			-	-	-	-	(2)	(2)
	Property, plant and equipment and intangibles and investment properties			27	-	27	37	-	37
	Unrealized gains with tax credits			-	(21)	(21)	-	(60)	(60)
	Cash flow hedge			-	(17)	(17)	-	(20)	(20)
	Lease net of right of use			140	-	140	131	-	131
	Modification debt effects - IFRS 9			16	-	16	24	-	24
	Others			33	-	33	16	-	16
	Gross deferred income tax and social contribution assets (liabilities)			284	(356)	(72)	315	(397)	(82)
	Compensation			(284)	284	-	(315)	315	-
	Net deferred income tax and social contribution assets (liabilities), net			-	(72)	(72)	-	(82)	(82)
	Management has assessed the future realization of deferred tax assets, considering the projections of future taxable income. This assessment was based on information from the strategic planning report previously approved by the Board of Directors of the Company.
	The Company estimates the recovery of the deferred tax assets as follows:
	Years	Amount
	Up to 1 year	56
	From 1 year to 2 years	73
	From 2 years to 3 years	1
	More than 5 years	154
		284

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19.3	Rollfoward of deferred income tax and social contribution
			6/30/2021	12/31/2020
	At the beginning of the period		(82)	(395)
	Benefits in the period		10	268
	Corporate reorganization		-	45
	At the end of the period		(72)	(82)
20	Shareholders’ equity
20.1	Capital stock and stock rights
	The Company’s capital stock on June 30, 2021 is R$ 779 (R$ 761 on December 31, 2020), represented by 269 million registered common shares, (268 million on December 31, 2020), all non-par and registered shares. According to the Company's bylaws, the Company’s authorized capital stock may be increased up to 400 million common shares.
	On June 1, 2021 the Management Board approved a capital increase of R$18, corresponding to the issuance of 544 thousands common shares.
20.2	Distribution of dividends and interest on equity
	The Extraordinary Shareholders’ Meeting held on September 29, 2020 approved the interim payment of interest on equity, in the gross amount of R$ 310, over which the withholding income tax was deducted in the amount of R$ 46, corresponding to the net amount of R$ 264.
	Management proposed dividends to be distributed, considering the anticipation of interest on equity to its shareholders, calculated as follows:
			12/31/2020
			Restetad
	Net income for the year ended on December 31, 2020		1,398
	% Legal reserve		5%
	Legal reserve for the year		5
	Base for dividends		1,393
	Interest on equity payment – net		264
	Minimum mandatory dividends - 25%		349
	Dividends proposed payable		85
	On March 26, 2021, the amount of dividends and profits company’s destination related to year ended December 31, 2020 proposed by the Management were disclosed to the market. Such management’s proposal was approved on April 28, 2021 (see note 28.2) and the amount of dividends will be adjusted to reflect the minimum percentage required by law.
	At the general shareholders’ meeting held on April 28, 2021, the shareholders voted to approve the minimum mandatory dividend in the aggregate amount of R$349, calculated in accordance with Brazilian Corporate Law and the Company’s bylaws, with respect to the fiscal year ended December 31, 2020. This amount corresponds to R$1.29846211682919 per common share. Of the total amount, R$264 was paid on November 27, 2020 as interest on shareholders’ equity, and R$85 will be payable as follows: (i) on June 7, 2021, to holders of common shares based on the shareholding composition of April 28, 2021; and (ii) on June 14, 2021, to holders of ADSs as of April 30, 2021. The residual amount payable corresponds to R$0.31654126223623 per common share.
20.3	Legal reserve
	Legal reserve: this is recorded by appropriating 5% of the net income of each fiscal year, observing the 20% limit of capital. On June 30, 2021, the amount is R$152 (R$152 on December 31, 2020).
	The destination differs from the financial statements, since the destination of 5% of net income to the legal reserve would result on the exceeding of 20% of capital stock.
21	Net operating revenue
		Parent Company	Parent Company and Consolidated
		6/30/2021	6/30/2020
	Gross operating revenue		Restated
	Goods	21,246	17,615
	Services rendered and others	52	44
		21,298	17,659
	(-) Revenue deductions
	Returns and sales cancellation	(36)	(30)
	Taxes	(1,765)	(1,549)
		(1,801)	(1,579)
	Net operating revenue	19,497	16,080

36 

22	Expenses by nature
		Parent Company	Parent Company and Consolidated
		6/30/2021	6/30/2020
			Restated
	Inventory costs	(16,001)	(13,300)
	Personnel expenses	(1,189)	(972)
	Outsourced services	(116)	(113)
	Selling expenses	(283)	(213)
	Functional expenses	(328)	(283)
	Other expenses	(200)	(109)
		(18,117)	(14,990)
	Cost of sales	(16,268)	(13,525)
	Selling expenses	(1,560)	(1,267)
	General and administrative expenses	(289)	(198)
		(18,117)	(14,990)
23	Other operating expenses, net
		Parent Company	Parent Company and Consolidated
		6/30/2021	6/30/2020
			Restated
	Result with property and equipment	6	(23)
	Reversal (provision) for legal proceedings	5	(2)
	Reestructuring expenses	(42)	(51)
	Covid-19 spending on prevention	-	(66)
	Total	(31)	(142)
24	Net financial result
		Parent Company	Parent Company and Consolidated
		6/30/2021	6/30/2020
	Financial expenses		Restated
	Cost of debt	(190)	(235)
	Cost and discount of receivables	(15)	(22)
	Monetary correction (liabilities)	(9)	(7)
	Interest on leasing liabilities	(133)	(100)
	Other financial expenses	(1)	(51)
	Total financial expenses	(348)	(415)
	Financial revenues
	Cash and cash equivalents profitability	25	18
	Monetary correction (assets)	41	108
	Other financial revenues	3	3
	Total financial revenues	69	129
	Total	(279)	(286)
25	Earnings per share
	The Company calculates earnings per share by dividing the net income, referring to each class of share, by total outstanding common shares during the period.
	At the extraordinary general shareholders´ meeting held on October 5, 2020, Company’ shareholders voted to approve the reverse stock split of 3,269,992,034 (three billion, two hundred and sixty-nine million, nine hundred and ninety-two thousand and thirty-four) common shares, with no par value issued by Company, in the proportion of 12.1854776946393 to 1 (one) (the “Reverse Stock Split”). Immediately following the Reverse Stock Split, capital stock of Company was represented by 268,351,567 (two hundred and sixty-eight million, three hundred and fifty-one thousand, five hundred and sixty-seven) common shares, with no par value.
	The table below sets forth the net income available to holders of common shares and the weighted average number of common shares outstanding used to calculate basic and diluted earnings per share in each period:
				6/30/2021	6/30/2020
	Basic and diluted number:				Restated
	Allocated basic earnings and not distributed from continued operation			545	275
	Net income allocated available to common shareholders			545	275
	Basic and diluted denominator (millions of shares)
	Weighted average of the number of shares			268	258
	Basic and diluted earnings per million shares (R$) from continued operation			2.02854	1.06589
26	Non-cash transactions
	The Company had transactions that did not represent a cash disbursement, and therefore, such transactions were note presented in the cash flow statements, as described below:
	• Purchase of property, plant and equipment not yet paid, in note 12.4

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27	Discontinued operation
	At the Extraordinary Shareholders’ meeting held on December 31, 2020, shareholders of the Company and GPA approved the corporate restructuring proposal which consisted of the full spin-off of Éxito to GPA. Éxito is a Colombian company operating in Colombia under the banners of Éxito, Carulla, Super Inter, Surtimax, and Surtimayorista supermarkets and hypermarkets, in Argentina, under the Libertad banner, and in Uruguay under Disco and Devoto banners. Also, Éxito operates shopping malls in Colombia under the banner Viva.
	On June 30, 2020, Éxito’s results were classified as a discontinued operation as follows:
		6/30/2020
	Statement of operations	10,331
	Cost of sales	(7,803)
	Gross profit	2,528
	Operating expenses
	Selling expenses	(1,390)
	General and administrative expenses	(441)
	Depreciation and amortization	(346)
	Share of loss of associates	(41)
	Other operating expenses, net	(102)
		(2,320)
	Operating profit before net financial result	208
	Net financial result	(158)
	Income before income taxes	50
	Income tax and social contribution	14
	Net income for the period	64
	Comprehensive income results as presented below:
		6/30/2020
	Net income for the period	64
	Items that may be subsequently reclassified to statement of operations
	Exchange rate variation of foreign Investments	(4)
	Other comprehensive income	1
	Comprehensive income for the period	61
	Net cash flow incurred are:
		6/30/2020
	Operating activities	(1,278)
	Investment activities	(159)
	Financing activities	11
	Exchange rate variation on cash and cash equivalents	455
	Net cash used	(971)
	Earnings per share:
		6/30/2020
	Basic and diluted	0.1429
	Operation segment:
		6/30/2020
	Net sales	10,331
	Gross profit	2,528
	Depreciation and amortization	(346)
	Share of loss of associates	(41)
	Operating profit	208
	Net financial result	(158)
	Income before income taxes	50
	Income taxes and social contribution	14
	Net income for the period	64
		12/31/2020
	Current assets	8,014
	Non-current assets	18,930
	Current liabilities	9,729
	Non-current liabilities	3,620
	Equity capital/ minority	13,595
	The Éxito Group's operations were treated as a separate segment on June 30, 2020 and as result of the discontinuity of its operation in the financial statements as of December 31, 2020, the Company operates now as a single segment, as described in note 1.2.

38 

28	Subsequent  events
28.1	Split of common shares
	On July 8, 2021, the Company issued the extraordinary general meeting announcement to be held on August 11, 2021, in order to approval of the proposal of split of common shares issued by the Company, whereby each share issued by the the Company will be split into 5 (five) shares of the same type, without changing the amount of the Company's current capital stock.
28.2	Commitment of purchase and sale of real state
	On July 19, 2021, the Company entered into the “Private Instrument of Commitment of Real Estate Investment, Commitment of Purchase and Sale of Real Estate and Incorporation of in Rem Right of Surface, Under Suspensive Conditions and Other Covenants” with an investment fund administered by BRL Trust Distribuidora de Títulos e Valores Mobiliários SA and managed by TRX Gestora de Recursos Ltda. The purpose of the Instrument is the sale, development and lease of 5 properties of the Company located in the States of São Paulo, Rio de Janeiro and Rondônia.
	The transaction covers the sale of 1 property already built and other 4 lands, over which shall be carried out construction and real estate development project. The total sale amount of the Properties to be received by the Company is R$ 364, the sale amount and cost amount of the construction of the properties will be base for defining the final amount of the properties' monthly rents. On June 30, 2021, the assets transferred to "assets held for sale" was in amount of R$147.
	The performance of the acquisition of the properties is conditioned to the fulfilment of certain suspensive conditions provided in the Instrument until October 14, 2021.
28.3	Approval of obtention of financial resources
	On July 27, 2021, were approved the acquisition of real estate receivables certificates (CRI), in the amount of R$1,500 and of promissory notes, in the total amount of R$2,500. Such transactions will have an average maturity of more than 4 years and have due dates from 2022 and 2023.
	The conclusion of the public offering is subject to full compliance with the conditions precedent set out in the documentation relating to the respective funding.
28.4	Capital stock increase
	On July 27, 2021, the Company approved, in accordance with Article 6 of the Bylaws and the limit of authorized capital, the increase of capital stock in the amount of R$ 8 by menos of the issuance of 404,186 (four hundred four thousand, one hundred eighty-six) common shares. With this, the Company's capital stock increased from R$ 779 to R$ 787, fully subscribed and paid for, divided into 269,299,859 common shares with no par value.

39 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 27, 2021

Sendas Distribuidora S.A.

By: /s/ Daniela Sabbag Papa

Name: Daniela Sabbag Papa

Title: Chief Financial Officer

By: /s/ Gabrielle Helú

Name: Gabrielle Helú

Title: Investor Relations Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.