Tegma´s Q3 2019 results

TEGMA GESTAO LOGISTICA S.A., one of the largest logistic providers in Brazil and one of the leaders in logistics for brand new vehicles, hereby presents its Q3 2019 results.


. In 3Q19, tax credit relating to ICMS-exemption of PIS/Cofins base has been recognized, which impacted the net income in R$ 55.3 million positive.
. In 3Q19, net revenue has increased 2,9% in the yearly comparison.
. In 3Q19, the quantity of vehicles transported was 204.500, 1.1% lower in comparison to the previous year, reflecting in a 25.7% market share or a loss of 0.2 p.p in comparison to 3Q18 and the quarter´s average distance was 1,106 km, the highest in the last four years.
. 3Q19 EBITDA was R$ 114.9 million. For comparison purposes, if we disconsider PIS/Cofins tax credit (with lawsuit-related costs) and impact of IFRS 16, adjusted EBITDA was R$ 55.4 million, 16,3% of margin.
. 3Q19 net income was R$ 91.4 million, influenced by a net effect of R$ 55.3 million of PIS/Cofins tax credit. Not considering it, net income would had been R$ 36.9 million, 18.8% higher than 3T18.
. In 3Q19, free cash flow was R$ 42.1 million, influenced positively by IFRS 16. Not considering it Free cash flow would be R$ 34.4 million vs R$ 17.9 million in 3Q18.
. 3Q18 return on invested capital was 44.4%. If we disregard PIS/COFINS tax credit, it would be 34.9%.

Results conference call
|PORTUGUESE with simultaneous translation to ENGLISH|
Friday, November 8, 2019
3:00 pm (Brasília)
1:00 pm (US-ET)
Phone: +55 11 3193 1080                   +55 11 2820 4080
Phone: +1 646 828-8246               +1 646 291-8936
Port Webcast: click here                   English Webcast: click here