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Springs Global: EBITDA reaches R$ 63.5 million, with a 35.4% growth
São Paulo, April 19th, 2016 - Springs Global Participações S.A. (Springs Global), the Americas largest company in bedding, tabletop and bath products, reported in the first quarter of 2016 (1Q16) growth of 9.9% in net revenue, which totaled R$ 602.6 million, and continued its course of margin expansion.
The highlights of Springs Globals performance in 1Q16 were:
- Net revenue of R$ 602.6 million, 9.9% higher than the first quarter of 2015 (1Q15)
- Gross margin of 26.3%, with a 1.3 percentage point (pp) expansion against 1Q15
- EBITDA of R$ 63.5 million, with a year-over-year (yoy) increase of 35.4%
- EBITDA margin of 10.5%, against 8.6% in 1Q15
- Income from operations amounted to R$ 43.9 million, 65.7% higher yoy
- Net result negatively impacted by the Brazilian real devaluation against the US dollar, which resulted in net exchange rate variation of R$ 14.4 million in 1Q16 and a variation of R$ 35.7 million yoy
- EBITDA margin improvement in all business units
- Rebalancing of the capital structure with a new credit line of up to US$ 63 million, to be paid in five years, in the North America - Wholesale business unit
- Growth of 6.2% yoy in the average sell-out revenue per store in the business unit South America - Retail
To access the PDF file, click here.
Springs Global will host a conference call and webcast tomorrow, April 20th, 2016, at 2 pm São Paulo time, 1 pm New York time and 6 pm London time, in Portuguese with simultaneous translation to English.
Earnings conference call - 1Q16
Time: 2 pm São Paulo time / 1 am New York time / 6 pm London time
In Portuguese: +55 11 3193-1001/ +55 11 2820-4001
In English: +1 888 700-0802 (Toll free) / +1 786 924-6977
Passcode: Springs Global
To access the webcast (live and replay) in English click here or access the website http://www.springs.com.br/ri.
For further information, contact:
+55 11 2145-4476
Alessandra Gadelha - IR Officer