3Q22 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 3Q22 results.

. The quantity of vehicles transported in 3Q22 was 166,100, 45.8% higher vs 3Q21, corresponding to a market share of 25.2%, 3.0 p.p up vs 3Q21, due to the market recovery and to the main customers’ performance. The average distance in 3Q22 was 1,031 km, 0.6% lower than in 3Q21.
. 3Q22 net revenue was 79.5% higher vs 3Q21, positively impacted by a recovery in the number of transported vehicles, as well as in Automotive Division’s logistics services, by the good performance of Integrated Logistics and transport tariff readjustments.
. The gross margin was 23.0% in 3Q22, 4.9 p.p. higher vs 3Q21 due to an increase of vehicles transported by the Automotive Division and to the Integrated Logistics Division margin expansion as a consequence of the revenue growth.
. Adjusted EBITDA for 3Q22 was R$87.9 million, with a 21.2% margin, 5.0 p.p. higher YoY, due to the higher number of vehicles transported by the Automotive Logistics operation and the growth in the Integrated Logistics Division’s revenue, providing a better fixed costs dilution.
. Net income for 3Q22 was R$53.5 million, 56.4% higher than 3Q21, corresponding to a 12.9% net margin, which reflects the recovery of the main Automotive Division’s customers, in addition to the positive results by Integrated Logistics division and by the Joint Venture GDL.
. Free cash flow in 3Q22 was positive by R$41.1 million, due to the good operating performance of both divisions, by the regularization of a commercial issue that reduced overdue accounts receivables and by the reduction of tax owed due to credits.
. The 3Q22 return on invested capital was 21.8%, 5.2 p.p. higher vs 2Q22, due to the growth in the quantity of vehicles transported by the Automotive Logistics division, as a consequence of automotive market recovery and by the Company’s main customers sales.
. Net cash in September 2022 was R$70.8 million vs R$51.3 million in June 2022, an increase in the cash position (net of debt) due to the generation of operating cash, of overdue receivables settlement and tax credit that reduced the amount of tax owed.

Webcast Eng
https://webcastlite.mziq.com/cover.html?webcastId=7d5bb4a3-91ba-4ab5-92eb-642729aee767
+1 412 717-9627 +1 844 204-8942
Friday, November 4th 2022 | 2:00 pm (US-EST)

To download the presentatiom, click here.