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Springs Global: EBITDA reaches R$ 60 million and revenues from South America grew 17%
São Paulo, August 14th, 2017 - Springs Global Participações S.A. (Springs Global), the Americas’ largest company in bedding, tabletop and bath products, reported in the second quarter of 2017 (2Q17) net revenue of R$ 540.4 million, with gross margin of 25.3% and EBITDA margin of 11.1%.
The highlights of Springs Global’s performance in 2Q17 were:
- Net revenue of R$ 540.4 million, 4.3% greater than the second quarter of 2016 (2Q16), impacted by higher sales volume
- Net revenue from South America - Wholesale and Retail - amounted to R$ 350.8 million, with a year-over-year (yoy) increase of 17.0%
- Gross margin of 25.3%, against 27.9% in 2Q16
- EBITDA of R$ 60 million, in line with 2Q16
- Income from operations reached R$ 41.4 million, stable yoy
- Decrease of R$ 9.9 million, or 22.1%, in financial expenses - interests
- Improvement of R$ 11.9 million yoy in net income
- Growth of 21.6% yoy in net revenue from the South America - Wholesale business unit
- Growth of 9.2% yoy in EBITDA from the North America - Wholesale business unit
- Growth of 6.6% yoy in gross revenue sell-out in the business unit South America - Retail, with opening of two franchise stores and conversion of one store.
To access the PDF file, click here.
Springs Global will host a conference call and webcast on August 15, 2017, at 9:30 am São Paulo time, 8:30 am New York time and 1:30 pm London time, in Portuguese with simultaneous translation to English.
Earnings conference call - 2Q17
Time: 9:30 am São Paulo time / 8:30 am New York time / 1:30 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