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Springs Global: EBITDA expands by 25% and Income from operations by 36%
São Paulo, November 10th, 2016 - Springs Global Participações S.A. (Springs Global), the Americas largest company in bedding, tabletop and bath products, reported in the third quarter of 2016 (3Q16) net revenue of R$ 616.6 million and EBITDA of R$ 76.4 million, continuing its course of growth, with margin expansion.
The highlights of Springs Globals performance in 3Q16 were:
- Net revenue of R$ 616.6 million, 2.6% higher than the third quarter of 2015 (3Q15), in spite of the appreciation of the Brazilian Real against the US dollar in the same period;
- Gross margin of 26.3%, against 26.9% in 3Q15;
- EBITDA of R$ 76.4 million, with a year-over-year (yoy) increase of 24.6%;
- EBITDA margin of 12.4%, with a 2.2 percentage point (pp) expansion against 3Q15;
- Income from operations amounted to R$ 57.0 million, 36.0% higher yoy;
- Net result negatively impacted by the Brazilian real appreciation against the US dollar, which resulted in a variation of R$ 24.5 million yoy in the net exchange rate variation account, with no cash effect;
- One of the 150 best companies to work for, according to Você S.A. magazine ranking;
- Growth of 11.1% in revenue in the South America - Wholesale business unit;
- Positive EBITDA in the South America - Retail business unit.
To access the PDF file, click here.
Springs Global will host a conference call and webcast tomorrow, November 11th, 2016, at noon São Paulo time, 9 am New York time and 2 pm London time, in Portuguese with simultaneous translation to English, and its public meeting, Springs Global Day, on November 17, 2016.
Earnings conference call - 3Q16
Time: 12 pm São Paulo time / 9 am New York time / 2 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
Springs Global Day
Time: 8:30 am - São Paulo time
Venue: Hotel BlueTree Faria Lima - Av. Brigadeiro Faria Lima, 3989 - São Paulo - SP.
Please confirm your attendance by email, firstname.lastname@example.org.