Springs Global Participações S.A. reported consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, on consolidated basis, the company reported net revenues of BRL 540.4 million compared to BRL 518.2 million a year ago. Income from operations was BRL 41.4 million compared to BRL 41.5 million a year ago. Loss before taxes was BRL 9.7 million compared to BRL 15.0 million a year ago. Net income was BRL 3.2 million compared to loss of BRL 8.7 million a year ago. Net cash provided in operating activities after interest and taxes was BRL 12.6 million compared to cash used was BRL 41.7 million a year ago. Property, plant and equipment were BRL 9.6 million compared to BRL 26.6 million a year ago. EBITDA was BRL 59.8 million compared to BRL 60.9 million a year ago. Gross margin of 25.3%, against 27.9% a year ago.

For the six months, on consolidated basis, the company reported net revenues of BRL 1,056.6 million compared to BRL 1,120.8 million a year ago. Income from operations was BRL 78.0 million compared to BRL 85.4 million a year ago. Loss before taxes was BRL 21.4 million compared to BRL 35.2 million a year ago. Net loss was BRL 8.8 million compared to BRL 30.9 million a year ago. Net cash provided in operating activities after interest and taxes was BRL 19.1 million compared to cash used was BRL 50.4 million a year ago. Property, plant and equipment were BRL 18.2 million compared to BRL 48.2 million a year ago. EBITDA was BRL 114.8 million compared to BRL 124.3 million a year ago. Net debt was BRL 886.4 million as of June 30, 2017.

The company provided earnings guidance for the year 2017. For the year the company expects total net revenue to be in the range of BRL 2,360 million - BRL 2,730 million. EBIT to be in the range of BRL 200 million - BRL 240 million. EBITDA to be in the range of BRL 280 million - BRL 320 million. CAPEX to be in the range of BRL 35 million - BRL 45 million.