4Q2017 AND 2017 EARNINGS RELEASE

Transcription

1 Caxias do Sul, RS, March 14, Randon S.A Implementos e Participações (BM&FBovespa - RAPT3 and RAPT4), the controlling holding company of nine companies operating within the segments of vehicles and trailers/semi-trailers, auto parts and financial services, reports its results for the fourth quarter of 2017 (4Q2017), and 2017, ended December 31, The information of the Company, except when otherwise stated, are consolidated in accordance with the international standards of IFRS International Financial Reporting Standards and the monetary values are denominated in Reais. 4Q2017 AND 2017 EARNINGS RELEASE HIGHLIGHTS Total Gross Revenue 4Q2017, before consolidation, of R$ 1.2 billion, an increase of 41.1% in comparison to 4Q2016; 4Q2017 Consolidated Net Revenue of R$ million, 37.1% higher than the one obtained in the 4Q2016 (R$ million); EBITDA 4Q2017 of R$ 78.4 million, with EBITDA Margin of de 9.2%; R$ 3.6 million of Net Profit in the 4Q2017, with net margin of 0.4%, against a net loss of R$ 48.5 million in the 4Q2016. Market Cap (12/31/2017) R$ 2.3 billion Quote RAPT3 and RAPT4 (12/31/2017) RAPT3: R$ 5.25 RAPT4: R$ 7.17 Conference Call 4Q2017 March 14, Wednesday, 11:00 h Brasília Time and 10:00 h New York Time Dial in from Brasil: +55 (11) / Dial in from the United States: Webcasting

2 MAIN FIGURES (R$ THOUSANDS) Total Gross Revenue (*) 1,223, , % 4,215,630 3,680, % Domestic market 1,098, , % 3,721,850 3,154, % Foreign market 124, , % 493, , % Foreign market in US$ 39,922 39, % 155, , % Consolidated Net Revenue 853, , % 2,936,759 2,623, % Consolidated Gross Profit 202, , % 697, , % Gross Margin (%) 23.8% 18.6% 520 bps 23.7% 19.9% 390 bps Consolidated Net Profit 3,575-48, % 46,712-67, % Net Margin (%) 0.4% -7.8% 820 bps 1.6% -2.6% 420 bps Consolidated EBITDA 78,372 1, % 308, , % EBITDA Margin (%) 9.2% 0.2% 900 bps 10.5% 5.4% 510 bps (*) Without eliminating intercompany sales CONSOLIDATED NET REVENUE BREAKDOWN BY COMPANY NET REVENUE 4Q2017 INTER- CONSOLIDATED COMPANY NET REVENUE SALES 4Q2016 % OVER CONSOLIDATED REVENUE NET REVENUE % OVER REVENUE Randon S.A. Impl. e Participações (Parent Company) 381,757 39, , % 248, % Randon Impl. p/o Transporte Ltda. 32,627-32, % 8, % Randon Perú S.A.C % - 0.0% Randon Argentina S.A. 23,842-23, % 19, % International Offices % - 0.0% Vehicles and Road Equipment 438,661 39, , % 276, % Master Sist. Automotivos Ltda. 93,360 29,593 63, % 43, % Jost Brasil Sistemas Automotivos Ltda. 42,350 12,087 30, % 18, % Fras-Le S.A. (Consolidated) 221,527 7, , % 191, % Randon S.A. Impl. e Participações (Suspensys) 75,834 2,963 72, % 54, % Castertech Fundição e Tecnologia Ltda 67,968 32,579 35, % % Auto parts 501,040 84, , % 308, % Randon Administradora de Consórcios Ltda. 31, , % 27, % Randon Investimentos Ltda. 10,311 3,668 6, % 8, % Randon Collection % - 0.0% Financial Services 41,534 3,679 37, % 36, % TOTAL 981, , , % 622, % R$ Thousands CONSOLIDATED NET REVENUE AND PHYSICAL SALES VOLUME BREAKDOWN 4Q2017 4Q Δ% Un. Δ% Un. Un. % CNR Un. % CNR Un. % CNR Un. % CNR Vehicles and Road Equipment 46.8% 44.5% 43.4% % Trailers/ Semi-Trailers (un.) 4, % 2, % 58.3% 13, % 9, % 33.2% Specialty Vehicles (un.) % % 34.0% % % 78.1% Rail freight cars (un.) % % 3.1% % 1, % -44.2% Autoparts 48.8% 49.6% 51.5% 50.1% Friction Material (ton.) 17, % 13, % 23.2% 70, % 63, % 10.6% Brakes (un.) 121, % 84, % 44.4% 479, % 403, % 18.9% Coupling Systems (un.) 20, % 10, % 92.7% 74, % 49, % 51.6% Suspension and axles (un.) 8, % 3, % 165.7% 32, % 13, % 145.2% Hubs and drums (un.) 51, % 21, % 136.8% 183, % 101, % 80.0% *Castings (ton.) - - 4, % , % - Financial Services 4.4% 5.9% 5.1% 5.5% Coop-payment plan quotas sold 9, % 2, % 230.7% 13, % 11, % 17.4% Randon Investimentos (Randon Bank) 0 0.8% 0 1.4% % 0 1.4% -

3 EXPORTS Randon S/A e Randon SP 10,545 13, % 42,988 49, % Vehicles division 1, % 7,684 1, % Vehicles and Road Equipment 12,177 13, % 50,673 51, % Master 3,580 2, % 14,535 11, % Jost 1,331 1, % 5,172 4, % Fras-le 20,837 20, % 76,433 79, % Randon (Suspensys Division) 1, % 5,830 3, % Castertech % 2, % Auto parts 27,745 25, % 104, , % TOTAL 39,922 39, % 155, , % * Revenues from overseas not included US$ Thousands EBITDA/EBITDA MARGIN Consolidated Net Revenue 853, , % 2,936,759 2,623, % Cost of Goods Sold -650, , % -2,239,754-2,103, % Consolidated Gross Profit 202, , % 697, , % (-) Operating Expenses -136, , % -480, , % (-)Other expenses/income -20,032-29, % -25,818-41, % Resultado da Atividade 46,517-28, % 190,946 21, % (+) Depreciation 31,855 29, % 117, , % EBITDA Consolidated 78,372 1, % 308, , % EBITDA Margin (%) 9.2% 0.2% 900 bps 10.5% 5.4% 510 bps PERFORMANCE COMPARISON Total Gross Revenue without eliminations 1,223, , % 4,215,630 3,680, % Consolidated Net Revenue 853, , % 2,936,759 2,623, % Consolidated Gross Profit 202, , % 697, , % Net Income 3,575-48, % 46,712-67, % Operating Shareholders Equity (EBIT) - Consolidated 46,517-28, % 190,946 21, % Consolidated EBITDA 78,372 1, % 308, , % Consolidated Net Financial Debt , , % Consolidated Net Financial Debt (without Randon Bank) , , % Consolidated Net Financial Income -13, % -37,002-20, % Financial Income 52,830 89, % 262, , % Financial Expenses -66,307-89, % -299, , % Consolidated Administrative and Commercial Expenses -136, , % -480, , % Consolidated Income per Share %

4 R$ Thousands INVESTMENTS Randon S.A. Implementos e Participações ,0% ,6% Randon Impl. para o Transporte Ltda ,2% Randon Argentina S.A ,4% ,0% Randon Automotive Ltda ,0% ,0% Randon Perú S.A.C Master Sistemas Automotivos Ltda ,4% ,4% JOST Brasil Sistemas Automotivos Ltda ,6% ,1% Fras-le S.A ,5% ,4% Castertech Fundição e Tecnologia Ltda ,9% ,5% Randon Adm. de Consórcios Ltda ,7% ,9% Randon Investimentos Ltda SUBTOTAL ,0% ,1% Aquisition of Fras-le Subsidiaries Increase of shareholding Participation at Fras-le ,0% TOTAL ,1% ,3% R$ Million

5 CONSOLIDATED FINANCIAL STATEMENTS (R$ THOUSANDS) 4Q2017 % 4Q2016 % 2017 % 2016 % 4Q2017/ 4Q /2016 Gross Revenue 1,059, % 775, % 3,661, % 3,285, % 36.6% 11.4% Deduction in Gross Revenue -205, % -152, % -724, % -661, % 34.8% 9.5% Net Revenue 853, % 622, % 2,936, % 2,623, % 37.1% 11.9% Costs of Sales and Service -650, % -506, % -2,239, % -2,103, % 28.3% 6.5% Gross Profit 202, % 115, % 697, % 520, % 75.7% 33.8% Sales Expenses -82, % -71, % -282, % -273, % 16.4% 3.2% Administrative Expenses -53, % -43, % -197, % -184, % 23.6% 7.5% - Financial Income -13, % 0.1% -1.3% -20, % 82.2% , % Financila Revenues 52, % 89, % 262, % 356, % -41.0% -26.3% Financial Expenses -66, % -89, % -299, % -376, % -25.6% -20.5% Other Expenses/Income -20, % -29, % -25, % -41, % -32.9% -38.2% Result Before Income Tax 33, % -28, % 153, % 1, % % % Provision for Income Tax and Social Cont. -19, % -10, % -49, % -12, % 84.8% 295.3% Interest of non-controlling shareholders -9, % -9, % -58, % -55, % 4.3% 3.9% Net Income for the Period 3, % -48, % 46, % -67, % % % EBIT 46, % -28, % 190, % 21, % % 792.9% EBITDA 78, % 1, % 308, % 142, % % 116.0% EBITDA Margin (%) 9.2% 0.2% 10.5% 5.4% 900 bps 510 bps

6 FINANCIAL STATEMENTS CONSOLIDATED BY SEGMENT 4Q2017 (R$ THOUSANDS) Vehicles and Trailers/Semi-trailers Auto Parts Financial Services Consolidated 4Q2017 4Q2016 Δ% 4Q2017 4Q2016 Δ% 4Q2017 4Q2016 Δ% 4Q2017 4Q2016 Δ% Gross Revenue 479, , % 537, , % 41,809 40, % 1,059, , % Deduction in Gross Revenue -80,757-54, % -121,185-94, % -3,954-3, % -205, , % Net Revenue 398, , % 416, , % 37,855 36, % 853, , % Costs of Sales and Service -336, , % -312, , % -1,372-1, % -650, , % Gross Profit 62,099 12, % 104,286 68, % 36,483 34, % 202, , % GROSS Margin (%) 15.6% 4.4% 11.2 bps 25.0% 22.2% 2.9 bps 96.4% 95.0% 1.4 bps 23.8% 18.6% 5.2 bps Operating Expenses -52,598-50, % -76,279-67, % -27,472-26, % -156, , % EBIT 9,501-37, % 28, % 9,011 8, % 46,517-28, % EBITDA 18,358-28, % 50,910 20, % 9,104 8, % 78,372 1, % EBITDA Margin(%) 4.6% -10.2% 14.8 bps 12.2% 6.7% 5.5 bps 24.1% 23.1% 0.9 bps 9.2% 0.2% 9.0 bps FINANCIAL STATEMENTS CONSOLIDATED BY SEGMENT 2017 (R$ THOUSANDS) Vehicles and Trailers/Semitrailers Auto Parts Financial Services Consolidated Δ% Δ% Δ% Δ% Gross Revenue 1,530,360 1,429, % 1,966,227 1,697, % 164, , % 3,661,113 3,285, % Deduction in Gross Revenue -255, , % -453, , % -15,233-13, % -724, , % Net Revenue 1,274,900 1,164, % 1,512,566 1,314, % 149, , % 2,936,759 2,623, % Costs of Sales and Service -1,102,054-1,092, % -1,131,881-1,002, % -5,819-8, % -2,239,754-2,103, % Gross Profit 172,845 72, % 380, , % 143, , % 697, , % GROSS Margin (%) 13.6% 6.2% 7.3 bps 25.2% 23.8% 1.4 bps 96.1% 94.0% 2.1 bps 23.7% 19.9% 3.9 bps Operating Expenses -163, , % -240, , % -102,433-99, % -506, , % EBIT 9, , % 140, , % 41,040 36, % 190,946 21, % EBITDA 46,313-76, % 220, , % 41,441 37, % 308, , % EBITDA Margin(%) 3.6% -6.6% 10.2 bps 14.6% 13.9% 0.7 bps 27.8% 25.6% 2.1 bps 10.5% 5.4% 5.1 bps