1Q21 Earnings Release
Tegma Gestao Logistica S.A., one of the largest logistic providers in Brazil and one of the leaders in logistics for brand new vehicles in Brazil, hereby presents its Q1 2021 results.
Highlights:
. In 1Q21 the quantity of vehicles transported was 137,300, a 12.4% decline in YoY comparison. This quantity results in a 22.8% market share or a 2.9 p.p loss in YoY comparison. The quarter´s average distance was 1,049 km, 6.6% lower in annual comparison.
. Net revenue in 1Q21 decreased by 16.4% in the YoY comparison, mainly due to the drop in the quantity of transported vehicles in the automotive logistics division.
. 1Q21 EBITDA was R$ 43.2 million, corresponding to a 18.5% margin, 2.7 p.p higher than the 1Q20 adjusted EBITDA, due to the better efficiency in managing costs and expenses and to positive extraordinary events in 1Q21.
. 1Q21 net income was R$20.2 million, a result 5.0% higher in the YoY comparison despite the reduction in revenue, mainly due to operational improvements in the period and to positive extraordinary events.
. In 1Q21, free cash flow was R$44.2 million positive, due to the good operational performance, to the release of working capital and to positive extraordinary events.
. In 1Q21, return on invested capital was 17.8%, a 1.6 p.p increase vs 4Q20, mainly due to the rebound of automotive sector in 2H20 and to the better efficiency level of the automotive division in the period.
. In March 2021, the Company was R$ 110.3 million net cash, a result of the company’s operational efficiency, to non-recurring events and to the postponement of spending amid the upsurge of the pandemic.
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