Tegma´s Q4 2018 results

Tegma´s Q4 2018 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.


. Tegma transported 203,600 vehicles in 4Q18, 3.7% less vs the previous year, 25.8% of market share or a 1.7 p.p loss vs 4Q17.

. 4Q18 Tegma’s gross revenue 11.4% growth was driven mainly by the improvement of average distance in automotive disivion.

. Tegma’s adjusted EBITDA in 4Q18 was R$ 68.1 million, superior vs the previous year and driven by better results from both divisions.

. 4Q18 Tegma’s net income was R$ 35.0 million, a reduction vs 4Q17 mainly because of a significant tax credit recognized last year.

. 4Q18 free cash flow was R$ 1.5 million, influenced by better results, but also by higher working capital consumption and by a higher investments

. The company’s net debt on December 31, 2018 was R$ 70.5 million, corresponding to 0.4 x EBITDA of the last 12 months.

. Proposed distribution of R$ 28.3 million in complementary dividends and IOC, resulting in a payout of 60% on 2018 earnings and a 4.3% dividend yield in 2018

. Tegma 4Q18 ROIC was 28.0%.

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