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Springs Global: Revenue grew 42% yoy
São Paulo, May 13rd, 2021 - Springs Global Participações S.A. (Springs Global), a company in the Home & Decoration segment, leader in bedding, tabletop and bath products, reported in the first quarter of 2021 (1Q21), net revenue of R$ 430.4 million, surpassing by 42.3% the value achieved in the first quarter of 2020 (1Q20). E-commerce sales grew 214.9% year-over-year (yoy). Gross margin reached 36.9% and adjusted EBITDA margin was 12.7%.
The highlights of Springs Global´s performance in 1Q21 were:
» Net revenue: R$ 430.4 million; +42.3% compared to 1Q20;
» Gross profit: R$ 158.8 million, +69.0% yoy, with gross margin of 36.9%;
» Income from operations (EBIT): R$ 28.2 million, with EBIT margin of 6.6%;
» Adjusted EBITDA: R$ 54.7 million, with EBITDA margin of 12.7%;
» Retail: Revenue from Retail business unit grew 34.6%, reaching R$ 104.4 million, while sell-out revenue increased by 25.9%, totaling R$ 175.8 million;
» Retail - E-commerce sales: R$ 71.1 million, 3.1 times the 1Q20 value;
» Wholesale: Growth of 45.0% in revenue and of 111.0% in EBITDA from Wholesale business unit;
» Gross debt: 8.8% lower yoy, with a decrease of 26.4% in net financial result yoy;
» Free cash flow: R$ 21.8 million.
To access the PDF file, click here.
Springs Global will host a conference call and webcast on May 14, 2021, 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 - 1Q21
Time: 11 am São Paulo time / 10 am New York time / 3 pm London time
In Portuguese: +55 11 4210-1803 / +55 11 3181-8565
In English: +1 844 204-8942 (Toll free) / +1 412 717-9627
Passcode: Springs Global
For further information, contact:
+55 11 2145-4476
Alessandra Gadelha - IR Officer