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Springs Global: The launch of digital franchise opens door for strong growth
São Paulo, March 22nd, 2018 - Springs Global Participações S.A. (Springs Global), the Americas’ largest company in bedding, tabletop and bath products, reported in 2017 net revenue of R$ 2,198.7 million, with gross margin of 26.3% and EBITDA margin of 11.6%.
The highlights of Springs Global’s performance in 2017 were:
- Net revenue of R$ 2,198.7 million, with gross margin equal to 26.3%;
- EBITDA of R$ 254.6 million, stable year-over-year (yoy)1;
- EBITDA margin of 11.6%, with a 0.4 percentage point (pp) expansion against 20161;
- Income from operations amounted to R$ 180.9 million, stable yoy1;
- Decrease of R$ 28.5 million, or 16.6%, in financial expenses - interests;
- Net profit of R$ 21.6 million, with an improvement of R$ 28.0 million in net result yoy;
- Growth of 6.8% in net revenues in the South America - Wholesale business unit;
- Growth of 6.7% in sell-out revenue from South America - Retail business unit;
- Free cash flow of R$ 18.0 million, contributing to the reduction of R$ 37.4 million in net debt yoy;
- Launch of the digital franchise model, in which the e-commerce sales will be fulfilled by the franchisees, and that started operation in 2018.
1 Excluding the non-recurring results of R$ 7.2 million in 4Q16 and in 2016 and provision for impairment of assets of R$ 19.1 million in 4Q16 and in 2016
To access the PDF file, click here.
Springs Global will host a conference call and webcast on March 23, 2018, at 11 am São Paulo time, 10 am New York time and 2 pm London time, in Portuguese with simultaneous translation to English.
Earnings conference call - 4Q17 and 2017
Time: 11 pm São Paulo time / 10 am New York time / 2 pm London time
In Portuguese: +55 11 3193-1001/ +55 11 2820-4001
In English: +1 800 492-3904 (Toll free) / +1 646 828-8246
Passcode: Springs Global
To access the webcast (live and replay) in English click here or access the website http://www.springs.com.br/ri