News

Springs Global: focus on South America, with a more robust financial structure

São Paulo, April 05th, 2019 - Springs Global Participações S.A. (Springs Global), the Americas’ largest company in bedding, tabletop and bath products, reported in 2018, as continuing operations, net revenue of R$ 1,370.8 million, with gross margin of 31.0%. E-commerce revenue presented growth of 150% year-over-year.

Events affecting Springs Global’s equity by 35% and cash, over the next quarters, by R$ 543 million:

  • Agreement, concluded in March 2019, to combine its North American operations, valued at US$ 126 million and reported as discontinued operations; and
  • Tax recovery of R$ 194.3 million, recorded in the fourth quarter of 2018 (4Q18), with estimated cash effect for the upcoming quarters, through the compensation of PIS and COFINS.

The highlights of Springs Global’s performance in 2018 were:

  • Net revenue of R$ 1,370.8 million;
  • Gross profit of R$ 425.2 million, with gross margin of 31.0%;
  • EBITDA of R$ 404.7 million;
  • Increase of 7.7% in average price, year-over-year (yoy), in the South America - Wholesale business unit;
  • Growth of 8.4% in sell-out revenue and of 150% in e-commerce sales from the South America - Retail business unit;
  • Launch of digital franchise model, Santista’s virtual store, and PIX front sales system;
  • Investment properties valued at R$ 347.8 million, with new assets and a revaluation of the commercial complex; and
  • Debt reduction and term extension, in the first quarter of 2019 (1Q19), due to US$ 90 million in cash proceeds for the combination of the North American operations and renegotiation of maturity terms.

To access the PDF file, click here.

Springs Global will host a conference call and webcast on April 9, 2019, at 11 a.m. São Paulo time, 10 a.m. New York time and 2 p.m. London time, in Portuguese with simultaneous translation to English.

Earnings conference call - 4Q18 and 2018

Date: 04/09/2019
Time: 11 p.m. São Paulo time / 10 a.m. New York time / 2 p.m. 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

For further information, contact:
+55 11 2145-4476

ri@springs.com

Alessandra Gadelha - IR Officer
alessandra.gadelha@springs.com