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São Paulo, August 14th, 2019 - Springs Global Participações S.A. (Springs Global), a leading company in bedding, tabletop and bath products, reported in the second quarter of 2019 (2Q19), net revenue of R$ 328.2 million, with gross margin of 28.8%. E-commerce revenue presented growth of 48.7% year-over-year (yoy).
The highlights of Springs Global´s performance in 2Q19 were:
- Net revenue of R$ 328.2 million, 6.6% higher yoy;
- Higher average price for all product categories yoy;
- Expectation of better revenue in the second half, due to launch of new product lines and seasonality;
- Gross profit of R$ 94.6 million, with gross margin of 28.8%, negatively impacted by the absorption of all costs from the consolidation of two industrial plants;
- Adjusted EBITDA of R$ 38.6 million, with adjusted EBITDA margin of 11.8%;
- Adoption of IFRS 16 Standard, with negative effect of R$ 3.0 million in net result;
- Improvement of R$ 37.4 million in financial results yoy;
- Expansion of R$ 30.1 million in result before taxes yoy;
- Growth of 9.8% in revenue from Brazil - Wholesale business unit;
- Growth of 48.7% in e-commerce sales from the Brazil - Retail business unit; and
- In the third quarter of 2019 (3Q19) begins the compensation of tax credit - PIS/COFINS, totaling R$ 208.9 million.
To access the PDF file, click here.
Springs Global will host a conference call and webcast on August 15, 2019, 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 - 2Q19
Time: 11 am São Paulo time / 10 am New York time / 3 pm London time
In Portuguese: +55 11 3193-1070/ +55 11 2820-4070
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
Alessandra Gadelha - IR Officer