3Q17 Results November 10, 2017

Transcription

1 Results November 10, 2017

2 Highlights JSL Consolidated Obs.: References are in slide 8. 2 Consolidated Net Revenue of R$ 1.9 billion in (+12.7% YoY); Consolidated Net Revenue from Services of R$ 1.4 billion in (+4.2% YoY); Consolidated Net Revenue from Sale of Assets of R$ million in (+44.9% YoY), demonstrating the Company s assets sale capacity; EBITDA of R$ million (+9.6% YoY) and EBITDA Margin of 22.6% in (+1.1 p.p. YoY); Net Income of R$ 1.1 million in ; Net CAPEX of R$ million in ; First international issuance of JSL s Bonds in the amount of US$ 325 million and maturity in 7 years, which increases the average period of consolidated debt from 2.5 years to 4.0 years, diversifying the Company investors, which now are global. JSL awarded the Transparency Trophy 2017 by ANEFAC - FIPECAFI - Serasa Experian Announcement to the market of intention to IPO the business of leasing and commercialization of heavy assets Signing of the purchase option agreement with Borgato.

3 Net revenue (R$ million) JSL Logística 3.4% 1, , % % Services Sale of Assets 1, Movida % % % % RAC GTF Sale of Assets JSL Concessionárias Consolidated¹ 1, ,00 1,80 1,60 1,40 1, % 45.2% 1, , , , % 1, % Obs.: References are in slide % Dealerships Leasing Services ² Sale of Assets ² 3

4 Consolidated 4 EBITDA and Net Profit (R$ million) Consolidated EBITDA and EBITDA Margin % 22.6% % Consolidated Net Result 25.0% 2% 15.0% 1% 5.0% % Movida Logística EBITDA of R$ million (+8.8% YoY), with EBITDA Margin of 23.1% (+1.4 p.p. YoY). The first signs of economic recovery recognized in this quarter should help the Company continue to focus on its organic growth, operational efficiency and profitability. EBITDA of R$ 84.2 million (+18.4% YoY), with EBITDA Margin of 32.7%. In, Movida delivered a net revenue of 40.1%, due to an increase of 32.3% in RAC daily rentals and continued to focus on execution and improvement of operational processes, of which we highlight the increase in the recovery of overdue credits, adjustment of provisioning levels and stabilization of losses with stolen vehicles Net Profit was R$ 1.1 million in, affected by the noncash effect of R$ 11.2 million resulting from the reclassification of the profit on secondary distribution of Movida s shares. In addition to the net profit, we highlight that volumes in some sectors of the logistics division are showing signs of recovery, which may lead to a more favorable macroeconomic scenario for the next quarters and Movida s focus on process improvement which is beginning to show its first results.

5 Sale of Assets Renewal Net Expansion 5 Investments JSL Consolidated (R$ million) % of the gross investment JSL Logística R$ 28.7 MM Movida R$ MM JSL Concessionárias R$ 2.4 MM % of the gross investment JSL Logística R$ 66.6 MM Movida R$ MM Leasing R$ 2.5 MM Gross Capex Revenue from Sale of Net Capex Assets R$ 601 million invested in light vehicles in JSL Logística R$ 86.7 MM Movida R$ MM JSL Concessionárias R$ 4.6 MM Elimination R$ (0.4) MM Consolidated Net Investment of R$ 179 million in, driven by the anticipated purchases of Movida for the year 2018, given opportunities with the automakers and the growth of the segment of Management and Outsourcing of Fleets JSL Logística R$ 8.7 MM Movida R$ 17 MM

6 JSL Consolidated Indebtedness (R$ million) Gross Debt Amortization Schedule Short-Term Long-Term 2, , Committed Lines Gross Debt Confirming Payables 2,769 Liquidity ² Confirming Payables 7% BNDES + Leasing 16% 1,772 oct/17 to sep/18 Modality Bank 29% Capital Market (Bond + CRA + Debentures) 48% 134 out/18 to dec/18 1,633 1, Leverage Indicators 1, to 2025 Net Debt / EBITDA¹ 4.64x Net Debt / EBITDA-A 1.9x EBITDA-A / Net Interest 4.5x Obs.: References are in slide 8. 6

7 JSL Results (R$ million) Logística Movida Concessionárias Leasing Consolidated¹ Gross Revenue 1, ,131.5 Net Revenue 1, ,890.5 Net Revenue from Services ,384.6 EBIT (1.2) EBIT Margin * 11.6% 25.4% -0.6% 23.3% 12.9% EBITDA EBITDA Margin * 23.1% 32.7% 0.4% 26.1% 22.6% EBITDA-A EBITDA-A Margin 29.1% 71.4% 2.0% 26.1% 42.2% Net Result Net Margin % Logística Movida Concessionárias Leasing Consolidated¹ Gross Revenue 4, , ,060.8 Net Revenue 4, , ,173.6 Net Revenue from Services 3, ,369.4 EBIT (3) EBIT Margin * 9.4% 23.9% -3.6% 4.9% 10.3% EBITDA (8.5) ,112.7 EBITDA Margin * 21.5% 31.4% -1.0% 32.9% 20.7% EBITDA-A 1, , ,835.4 EBITDA-A Margin 28.8% 69.0% 1.4% 32.9% 39.5% Net Result (142.4) Net Margin % * Calculated on net revenue from services Obs.: References are in slide Last 12 months

8 Disclaimer Some of the pieces of information and considerations herein constitute additional information not audited or revised by audit process and are based on current conjectures and perspectives of the Company s management, which may cause significant variations in future results, performance and events. Actual results, performance and events may significantly differ from those expressed or implied by these affirmations, as a result of several factors such as general and economic conditions in Brazil and other countries, interest rates, inflation and exchange rate, amendments to laws and regulations and general competitive factors (on a global, national or regional basis). Therefore, the Company s management is not responsible for the conformity and accuracy of the additional information not audited or revised by audit process discussed in this report, which information must be analyzed and interpreted independently by shareholders and market agents, who must make their own analyses and draw their own conclusions on the results disclosed herein. References in slides: Slide 2: ¹ Considers eliminations between JSL Logística and Movida. Slide 3: ¹ Considers eliminations between companies of the group; ² Considers eliminations between JSL Logística and Movida. Slide 6: ¹ Disregards the amount of R$ million resulting from the structure for entry of the bonds issuance funds, which equally impacts cash and gross debt; ² Considers R$ 150 million of committed lines + R$ billion of cash; ³ Accrued over the last 12 months, considering impairment of R$ 34.8 million. Slide 7: ¹ Considers eliminations between companies of the group. JSL S.A. Investor Relations Phone: (11) / Fax: (11) ri@jsl.com.br