Springs Global Participações S.A. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
August 14, 2018
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Springs Global Participações S.A. reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net revenues of BRL 523.7 million as compared to BRL 540.4 million for the same period last year. Income from operations was BRL 35.6 million as compared to BRL 41.4 million for the same period last year. Loss before taxes was BRL 37.1 million as compared to BRL 9.7 million for the same period last year. Net income was BRL 8.9 million as compared to BRL 3.2 million for the same period last year. EBITDA was BRL 54.8 million as compared to BRL 59.8 million for the same period last year. Net cash provided by operating activities was BRL 78.7 million as compared to BRL 58.9 million for the same period last year. Acquisition of property, plant and equipment was BRL 5.0 million as compared to BRL 9.6 million for the same period last year.
For the six months, the company reported net revenues of BRL 1,052.5 million as compared to BRL 1,056.6 million for the same period last year. Income from operations was BRL 71.1 million as compared to BRL 78.0 million for the same period last year. Loss before taxes was BRL 43.5 million as compared to BRL 21.4 million for the same period last year. Net income was BRL 2.0 million as compared to loss of BRL 8.8 million for the same period last year. Net cash provided by operating activities was BRL 63.6 million as compared to BRL 94.1 million for the same period last year. Acquisition of property, plant and equipment was BRL 18.8 million as compared to BRL 18.2 million for the same period last year. Acquisition of intangible assets was BRL 2.1 million as compared to BRL 0.0 million for the same period last year. EBITDA was BRL 108.4 million as compared to BRL 114.8 million for the same period last year.
For the year 2018, the company expects total net revenue to be in the range of BRL 2,120 million to BRL 2,500 million, EBIT to be in the range of BRL 200 million to BRL 240 million, EBITDA to be in the range of BRL 280 million to BRL 320 million, CAPEX to be in the range of BRL 60 million to BRL 70 million.
Springs Global Participacoes SA is a Brazil-based company engaged in the textile industry. The Company focuses on spinning, weaving, finishing and manufacturing of home textile products, mainly bed and bath textile articles, such as tablecloths, bed sheets, pillowcases, mattress pads, blankets, towels, shower curtains and bath accessories. The Company offers its products under various brand names, including MMartan, Casas Moyses, Artex, Santista, Springmaid, Fantasia, Arco Iris and Wabasso, among others. The Company operates production facilities in Brazil, Argentina and the United States, as well as distributes products in the United States, Canada, Brazil and Argentina. It controls a numed of subsidiaries, such as Springs Global US Inc, Coteminas SA, Ammo Varejo Ltda and American Sportswear Ltda. It is owned by Companhia de Tecidos Norte de Minas COTEMINAS.
Springs Global Participações S.A. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
SPRINGS GLOBAL PARTICIPAÇÕES S.A. 