3Q21 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 Q3 2021 results.


. The NUMBER OF VEHICLES TRANSPORTED in 3Q21 was 113.900, a 29.6% retraction vs 3Q20, reflecting the impacts of the shortage of components in the automotive sector. This volume resulted in a 22.4% market share, 2.9 p.p. lower vs 3Q20. The average distance in 3Q21 was 1,037 km, 12% lower than in 3Q20.
. Tegma carried out 16,300 TRIPS IN THE INTEGRATED LOGISTICS division in 3Q21, a 12.3% reduction y/y. The transported volume of chemical products was 10.7% higher than in 3Q20, but the average stored volume by the chemicals operation decreased by 16.5% vs. 3Q20.
. NET REVENUE in 3Q21 was 20.0% lower compared to 3Q20, reflecting the strong impacts in the automotive sector as a result of the worsening parts and components crisis.
. ADJUSTED EBITDA in 3Q21 was R$ 37.5 million, representing a 16.2% margin, 2.9 p.p lower than in 3Q20, due to the lower transported vehicles volume and to the lower average distance covered.
. NET INCOME in 3Q21 was R$34.2 million, 14.2% higher than in 3Q20, reflecting an extraordinary tax credit in the amount of R$ 12.9 million registered in the period and the Company’s operational resilience.
. FREE CASH FLOW in 3Q21 was positive by R$ 21.1 million due to the resilience of the company’s operating results, although negatively influenced by impacts from the delays in receipts, explained along the document.
. RETURN ON INVESTED CAPITAL in 3Q21 was 20.4%, 3.0 p.p lower than the ROIC in 1Q21, due to the difficulties in production in the automotive industry with the parts and components crisis throughout 9M21.
. NET CASH in September 2021 was R$ 93.7 million due to the company’s operating result, despite the delays in receipt (explained along the document) and the repayment of debts in this quarter.

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