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São Paulo, March 30th, 2020 - Springs Global Participações S.A. (Springs Global), a leading company in bedding, tabletop and bath products, reported in the year of 2019, as continuing operations, net revenue of R$ 1,422.5 million, with gross margin of 31.6% and recurring EBITDA margin of 13.5%. E-commerce revenue presented growth of 73.0% year-over-year (yoy).
The highlights of Springs Global’s performance in 2019 were:
- Net revenue of R$ 1,422.5 million, with a growth of 3.8% yoy;
- Gross profit of R$ 449.9 million, 5.8% greater than 2018;
- Gross margin of 31.6%, with an increase of 0.6 pp yoy, and totaling 35.3% in the last quarter, positively impacted by the reduction of raw materials prices and the consolidation of two industrial plants;
- Recurring EBITDA of R$ 191.8 million, with recurring EBITDA margin of 13.5%, and with a growth of 48.6% yoy, in recurring terms;
- Balance of exchange rate variations of R$ 30.7 million, with negative effect on net results, however with no cash effect, of which 92% is related to transactions among subsidiaries;
- Improvement of R$ 84.4 million in cash provided by the operating activities, with free cash flow of R$ 223.6 million, positively impacted by the combination of North American operations;
- Gross profit of R$ 271.0 million in the Brazil - Wholesale business unit, with a growth of 34.2% yoy in the last quarter;
- Growth of 7.4% yoy in sell out revenue and 73.0% yoy in e-commerce sales in the Brazil - Retail business unit;
- Growth of 10.8% yoy in revenue in the Argentina business unit, with an improvement of 10.2 pp in EBITDA margin.
To access the PDF file, click here.
Springs Global will host a conference call and webcast on March 31, 2020, 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 - 4Q19 and 2019
Time: 11 am São Paulo time / 10 am New York time / 3 pm London time
In Portuguese: +55 11 3193-1080/ +55 11 2820-4080
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