Tegma´s Q1 2019 results

Tegma Gestao Logistica S.A., one of the largest logistic providers in Brazil and in logistics for brand new vehicles in Brazil, hereby presents its Q4 2018 results.


. The 13.2% growth in net revenue in 1Q19 vs 1Q18 reflected the improvement in the average distance, the relative stability of the number of vehicles transported and the significant increase in other services in the vehicle logistics division, mainly in yard management.

. Tegma transported 179,300 thousand vehicles in 1Q19, 1.2% more than the previous year, reflecting 26.0% of market share or a 1.3 p.p gain vs 1Q18.

. Tegma’s EBITDA in 1Q19 was R$ 56 million. For comparative purposes, if we disregard the impacts of IFRS 16, it was R$ 46.3 million, 57.3% higher vs the previous year, driven by better results from both divisions.

. 1Q19 Tegma’s net income was R$ 26.6 million, 90.2% higher than 1Q18 mainly due to of operational improvement.

. 1Q19 free cash flow was R$ 46.3 million, influenced by better operational results and IFRS 16, but negatively by higher CAPEX and higher cash cycle. For comparative purposes, if we disregard the impacts of IFRS16, it was R$ 36.8 million.

. The company’s net debt on March 31, 2019 was R$ 34.7 million, corresponding to 0.2x adjusted EBITDA of the last 12 months.

. Tegma 1Q19 ROIC was 36.0%.

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