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EBITDA atinge R$ 60,9 milhões, com expansão de 16,1%
São Paulo, August 11th, 2016 - Springs Global Participações S.A. (Springs Global), the Americas largest company in bedding, tabletop and bath products, reported in the second quarter of 2016 (2Q16) net revenue of R$ 518.2 million, continuing its course of growth, with margin expansion, for the sixth consecutive quarter.
The highlights of Springs Globals performance in 2Q16 were:
- Net revenue of R$ 518.2 million, 1.9% higher than the second quarter of 2015 (2Q15)
- Gross margin of 27.9%, with a 0.2 percentage point (pp) expansion against 2Q15
- EBITDA of R$ 60.9 million, with a year-over-year (yoy)1 increase of 16.1%
- EBITDA margin of 11.7%, against 10.3% in 2Q15¹
- Income from operations amounted to R$ 41.5 million, 26.6% higher yoy¹
- Rebalancing of the capital structure with exchange rate exposure of total debt in line with the operational cash generation by geography and the beginning of the export program
- Revenue from North America - Wholesale grew 9.3%, with EBITDA margin expansion of 3.3 pp
- Growth of 6.9% yoy in the average sell-out revenue per store in the business unit South America - Retail, with an 11.8 pp increase in EBITDA margin, and launch of two new franchise stores
¹In recurring terms, which excludes the gain of R$ 17.1 million in 2Q15, related to sale of non-operational asset.
To access the PDF file, click here.
Springs Global will host a conference call and webcast today, August 11th, 2016, at 11 am São Paulo time, 10 am New York time and 3 pm London time, in Portuguese with simultaneous translation to English.
Earnings conference call - 2Q16
Time: 11 am São Paulo time / 10 am New York time / 3 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