4Q22 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 2022 and 4Q22 results.

. The volume of vehicles transported in 4Q22 was 164.9 thousand, 11.1% higher vs. 4Q21, a 25.6% market share, due to the market recovery and the sales of Tegma’s main customers. The average distance in 4Q22 was 1,028 km, 7.1% lower YoY.
. Net revenue was 34.3% higher in 4Q22 vs 4Q21, positively impacted by the growth in the number of vehicles transported and the increase in transportation tariffs as well as the positive performance of the services provided by the Integrated Logistics Division.
. Consolidated gross margin was 20.2% in 4Q22, 0.8 p.p. higher than the 4Q21 margin due to the revenue growth of both divisions and the cost control in the period.
. Adjusted EBITDA in 4Q22 was R$ 72.7 million, with a 17.8% margin, up 2.7 p.p YoY, due to the higher number of vehicles transported by the Automotive Logistics operation and the growth of the Integrated Logistics revenue, generating better dilution of fixed costs.
. Net income in 4Q22 was R$ 56.7 million, 92.8% higher than in 4Q21, corresponding to a margin of 13.9%, which is a result of the recovery of the Automotive Division’s main customers, the good results from Integrated Logistics and GDL and positive non-recurring events in 4Q22.
. Free cash flow in 4Q22 was R$46.3 million positive, as a result of the good operating performance in both divisions, which registered an improvement in operating indicators combined with cost control, in addition to the use of PIS and COFINS tax credits.
. ROIC in 4Q22 was 25.3%, 3.5 p.p higher QoQ, due to the increase in the volume transported by the Automotive Logistics division and to the positive results from Integrated Logistics.
. Net cash in December 2022 was R$ 88.6 million vs. R$70.8 million in September 2022, driven by the operating cash generation and the use of tax credits. In the quarter, the Company raised a R$ 33 million financing for the acquisition of trucks and working capital.

Webcast English
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Friday, March 10th 2023 | 1:00 pm (US-EST)

Click here to access the 4Q22 results presentation.