3Q18 Earnings Release
|
|
- Clyde Julian Riley
- 5 years ago
- Views:
Transcription
1 3Q18 Earnings Release Barueri, October 30, 2018 Smiles Fidelidade S.A. (B3: SMLS3) one of the largest loyalty programs in Brazil with over 14 million members, announces today its 3Q18 results. The financial and operational information in this report refers to the consolidated results of Smiles Fidelidade S.A. and is presented in accordance with IFRS and in Brazilian reais (R$), except when indicated otherwise. Percentage variations may use more decimal places for the calculations than shown in the document and are in comparison with Smiles Fidelidade S.A. numbers. Smiles Fidelidade S.A. Gross billings reached record volume of R$ million in 3Q18 B3: SMLS3 Novo Mercado Price: R$ No. of shares: 124,007,953 Market value: R$ 4.5 billion (close: 10/29/2018) 3Q18 Conference Call October 31, 2018 In Portuguese and English: (Simultaneous Translation) 11:00 a.m. (Brasília) 10:00 a.m. (US EST) Phone: +55 (11) or +1 (646) Password: Smiles webcast (Portuguese) webcast (English) SMILES CONTACTS Leonel Andrade CEO Marcos Pinheiro CFO Maria Laura Pessoa Investor Relations Manager Vinicius Bioni e Letícia Silveira Investor Relations ri@smiles.com.br HIGHLIGHTS Gross Billings amounted to R$ million in 3Q18, an increase of 17.6% compared to 3Q17. Net income reached R$ 212,1 million in 3Q18, a decrease of 37.5% compared to 3Q17 and an increase of 85.8% higher than the 2Q18. Excluding the extraordinary effect, reported net income was R$ million in 3Q18, an increase of 4.8% compared to 3Q17. Direct redemption margin reached 42.5% in 3Q18, a 0.4 p.p. rise versus 3Q17. Main Highlights Unit 3Q18 2Q18 3Q17 Miles accrual Bln % 18.8% Gol Bln % 12.1% Banks, retail and others Bln % 21.4% Smiles & Money bln % 9.9% Smiles' program redemptions bln % 33.7% Total gross billings ² R$ mn % 17.6% Total gross billings (ex-gol) ² R$ mn % 17.4% Net revenues* R$ mn % 21.1% EBITDA 1 R$ mn % 41.9% EBITDA 1 margin % 87.8% 68.1% 74.9% 19.7 p.p p.p. Net income R$ mn % (37.5%) Net margin % 80.5% 57.6% 156.1% 22.9 p.p. (75.6 p.p.) Net Income (ex-extraordinary)** R$ mn % 4.8% Net margin % 58.3% 57.6% 67.4% 0.7 p.p. (9.1 p.p.) 1. EBITDA is not an accounting measurement elaborated by the Company, reconciled with its financial statements. The EBITDA is composed by net income attributable to the Company s shareholders, added by net financial result, income tax and social contribution, and expenses related to depreciation and amortization. 2. Gross Billings is not an accounting measurement and corresponds to total sales revenues for miles and the cash portion of Smiles & Money, gross of taxes. These billings may have affected the current period or will be recognized as revenue in future periods, depending on the date of redemption by the program members. *Considers the new accounting presentation IFRS 15 ** Excludes the extraordinary effects
2 Message from Management Amid a challenging scenario of political and economic uncertainties, marked by a high exchange rate volatility, Smiles continued to deliver healthy operating and financial indicators, with strong growth and reaching records levels in all operational metrics. The highlight of operational indicators was the redemption, which reached the record of 22.9 billion of miles redeemed, an increase of 33.7% in comparison to 3Q17. Management s commitment with business profitability is translated on an ample direct redemption margin of 42.5% in 3Q18, 0.4 p.p. higher than 2Q18. We remain optimistic regarding the loyalty industry prospects and reaffirm our commitment in consolidating Smiles as Brazil s most innovative business platform and a complete marketplace for the traveler. In order to conquest this, we are constantly evaluating new business partnerships and focus on enhancing customer experience. The internationalization process towards Argentina continues to evolve on a satisfactory manner. We expect to conclude the documentation phase for the beginning of Smiles Argentina operation soon and start exploring the huge potential of this new market. Supported by Accounting Standards Committee Pronouncement 47 (CPC 47) and Normative Instruction 1771 of the Brazilian Internal Revenue Service, the Company recorded extemporary tax credits on Breakage provision in the balance sheet amounting to R$ 259 million and R$ 59 million positive impact on net income, net of taxes, since tax collection should occur only at the time of miles expiration. On October 14 th, 2018, Gol Linhas Aéreas Inteligentes S.A (GLAI) communicated to the Company and the market that it is initiating proceedings aiming at a corporate reorganization of GLAI, and previously notified its intention to not renew the operating and backoffice services agreements. The terms of the Reorganization will be negotiated with GLAI and Company s Independent Committee and, where applicable, submitted for approval by GOL and SMILES shareholders. Our mission is to turn miles into smiles :) 2
3 Operating Performance Operating Data 1 Unit 3Q18 2Q18 3Q17 Members mn % 16.2% Miles Accrual bln % 18.8% Gol bln % 12.1% Banks, retail and others bln % 21.4% Smiles & Money Gol bln % 9.9% Smiles' Program Redemptions bln % 33.7% Airline Redemptions bln % 34.6% Non-airline bln (5.1%) 28.6% Breakage Rate % 17.9% 18.3% 18.0% (0.4 p.p.) (0.1 p.p.) 1 All relevant miles amounts are net of reimbursement. The data in this table do not reflect financial information. Members: The number of program members reached 14.8 million in 3Q18, up 16.2% in comparison to 3Q17. Miles accrual: In 3Q18 miles accrued increased 18.8% compared with 3Q17, mainly boosted by the 21.4% expansion in miles accrual from banks, retail and services and an increase of 12.1% of miles accrued by Gol. Miles redemption: In 3Q18 miles redeemed were 33.7% higher than in 3Q17, and totalled 22.9 billion miles. Miles redeemed evolution were largely explained by the 34.6% increase of airline tickets redemption, which account for around 92.3% of total miles redeemed. The burn/earn ratio was 84.7% in 3Q18, 8.5 p.p rise compared to 2Q18. Operating data 1 Unit 3Q18 2Q18 3Q17 Smiles' redemption program bln % 33.7% Gol + International Partners Tickets bln % 34.6% Non-airline bln (5.1%) 28.6% % of miles redeemed Gol + International Partners Tickets % 92.3% 90.1% 91.7% 2.2 p.p. 0.6 p.p. Non-airline % 7.7% 9.9% 8.3% (2.2 p.p.) (0.6 p.p.) 1 All values corresponding to miles are net of reimbursement. Segregation among different redemption types were not reviewed by auditors. Breakage: The breakage rate was 17.9% this quarter from 18.3% in 2Q18. 3
4 Financial Performance Financial information summary Unit 3Q18 2Q18 3Q17 Gross billings 1 R$ mn % 17.6% Gol R$ mn % 20.0% ex-gol R$ mn % 17.4% 1. Gross Billings is not an accounting measurement and corresponds to total billings from the sale of miles gross of taxes. These revenues may have affected the current period or will be recognized as revenue in future periods, depending on the date of redemption by the program members. Gross billings: Total gross billings climbed 17.6% when compared to 3Q17 s figure, mostly due to the 17.4% increase in ex-gol miles billings. Gol s billings rose 20.0% versus 3Q17, influenced by the higher demand for domestic air tickets. Revenue (R$ thousand) 3Q18 2Q18 3Q17 Revenue 591, , , % 21.4% Redemption revenue 524, , , % 23.8% Breakage revenue 62,086 35,814 57, % 7.2% Other revenues 4,684 5,029 5,284 (6.9%) (11.4%) Services Provide Cost (304,185) (261,576) (223,332) 16.3% 36.2% Airline tickets (281,146) (237,118) (197,115) 18.6% 42.6% Diverse Products (23,039) (24,458) (26,217) (5.8%) (12.1%) Gross Revenue 286, , , % 8.9% Taxes and Contributions (23,479) (20,443) (45,925) 14.9% (48.9%) Net Revenues 263, , , % 21.1% Operational Costs (14,779) (14,622) (12,346) 1.1% 19.7% Gross Profit 248, , , % 21.2% *Managerial table in order to demonstrate revenues and costs related to redemption. Net revenue: Net revenue rose 21.1% compared to 3Q17, mainly due to a higher volume of miles redeemed in this period which resulted in an increase of 23.8% of redemption revenue. Breakage revenue increased 7.2% in 3Q18 in comparison to the same period last year, influenced by a higher volume of miles expired. Other revenues: Other revenues fell by 11.4% compared with 3Q17, reaching R$ 4.7 million. This item is mainly composed of cancellation fees, incentives to sell co-branded credit cards and Gol s loyalty program management fees. 4
5 Direct redemption margin: in the 3Q18 direct redemption margin reached 42,5%, an increase of 0.4 p.p in comparison to 3Q17. The direct redemption margin is not an accounting measure and it is calculated using only managerial revenues and costs directly related to miles redemptions, as illustrated in the table below: Redemption P&L Redemption Results¹ 3Q18 2Q18 3Q17 Revenue > Net Revenue of Redemption (b)1 528, , , % 37.0% Revenue 528, , , % 24.3% (-) Direct Taxes - - (39,348) - - Costs of provided services > Redemption costs (304,185) (261,576) (223,332) 16.3% 36.2% (-) Cost with Redemption (304,185) (261,576) (240,734) 16.3% 26.4% (+) Credits with direct taxes , Gross Revenue Gross result of redemption (a) 224, , , % 38.1% (-) Interest over Spread (20,789) (16,905) % - (=) Net Revenue Net result of redemption (=a/b) 203, , , % 25.3% % Redeem direct margin 42.5% 41.1% 42.1% 1.4 p.p. 0.3 p.p. 1 managerial redemption results: Gross results of redemption consider other revenues related to redemption that are registered as Other revenues. Application of Normative Instruction 1771: Supported by Accounting Standards Committee Pronouncement 47 (CPC 47) and Normative Instruction 1771 of the Brazilian Internal Revenue Service, the Company recorded extemporary tax credits on Breakage provision in the balance sheet amounting to R$ 259 million and R$ 59 million positive impact on net income, net of taxes, since tax collection must occur at the time of miles expiration. Operating Expenses (R$ thousand) 3Q18 2Q18 3Q17 Operating Expenses (21,491) (53,029) (45,500) (59.5%) (52.8%) Commercial Expenses (28,379) (28,695) (24,562) (1.1%) 15.5% Administrative Expenses (31,218) (24,334) (20,938) 28.3% 49.1% Other Expenses/ Revenues 38, n/a n/a Operating expenses: operating expenses were 59.5% and 52.8% lower than 2Q18 and 3Q17, respectively. The drop was influenced by the extraordinary effect on the calculation of extemporary fiscal credits of income tax, social contribution, PIS and COFINS related to the last 5 fiscal years. The fiscal credit revenue was recognized on other expenses/revenues line. If we exclude this extraordinary effect, operational expenses were up by 12.4% in comparison to 2Q18, reaching R$ 58.6 million. The operational expenses climb reflects higher administrative expenses (28.3%) which includes R$ 6.8 million of personnel expenses related to a higher provision for profit sharing distribution. 5
6 Other information (R$ thousand) 3Q18 2Q18 3Q17 Net financial result 96,681 38,071 52, ,9% 84.6% Financial expenses (1,035) (132) (210) 684,1% 392.9% Financial revenues 92,177 42,298 49, ,9% 85.7% Net exchange variation 5,539 (4,095) 2,949 n/a 87.8% Income tax and social Contribution (111,653) (54,387) 127, % n/a Financial result: the financial result increased 84.6% in 3Q18 versus 3Q17 figures, chiefly due to the extraordinary impact of R$ 53.9 million on financial result related to the monetary correction and interest on fiscal credit calculated in this quarter. The positive exchange rate variation also contributed to the financial result arising from the exchange rate volatility seen on this quarter. Net exchange variation: The net exchange variation recorded in the period is largely a result of the effect of foreign exchange rate variation of the accounts payable outstanding in USD, related to the cost of international ticket redemptions. Income tax and social contribution: this quarter the effective income tax and social contribution was 35%. Net income: Smiles Fidelidade s net income totaled R$212.1 million in 3Q18, an expansion of 85.8% in comparison to 2Q18. Excluding the extraordinary effect of R$ 58.6 million, the net income reached R$ million. Balance of advance to suppliers: the balance of advance to suppliers breakdown in the quarter is shown in the table below: Tranche Contract Data Balance 3Q18 Rate (a.a.) Tranche A 3º Contract 02/29/ % Tranche B 3º Contract 05/12/ % Single Tranche 4º Contract 08/02/ % Single Tranche 5º Contract 09/10/ % Single Tranche 6º Contract 09/27/ % Tranche A 7º Contract 09/28/ % Total 1, % 6
7 Income Statement IFRS 15 Income statement (R$ thousand) 3Q18 2Q18 3Q17 Net revenues 263, , , % 21.1% Operational costs (14,779) (14,622) (12,346) 1.1% 19.7% Gross profit 248, , , % 21.2% gross margin 94.4% 92,6% 94.3% 1.8 p.p. 0.1 p.p. Operating expenses (21,491) (53,029) (45,500) (59.5%) (52.8%) Selling expenses (28,379) (28,695) (24,562) (1.1%) 15.5% Administrative expenses (31,218) (24,334) (20,938) 28.3% 49.1% Other expenses/revenues 38, n/a n/a Operating profit 227, , , % 42.3% operating margin 86.2% 65.9% 73.4% 20.4 p.p p.p. Financial income 96,681 38,071 52, % 84.6% Financial revenues 92,177 42,298 49, % 85.7% Financial expenses (1,035) (132) (210) 684.1% 392.9% Exchange variation, net 5,539 (4,095) 2,949 (235.3%) 87.8% EBT 323, , , % 52.7% Income and social contribution taxes (111,653) (54,387) 127, % (187.6%) Net income 212, , , % (37.5%) Net margin 80.5% 57.6% 156.1% 22.9 p.p (75.6 p.p) 7
8 Balance Sheet Balance Sheet (R$ thousand) 3Q18 2Q18 3Q17 Assets 2,577,469 2,058,860 2,098, % 22.8% Current 2,319,738 1,835,193 1,618, % 43.3% Cash and cash equivalents 227, , ,675 (19.3%) 11.5% Short-term investments 519, , , % 198.7% Restrict Cash n/a n/a Trade receivable 351, , ,812 (10.4%) 2.1% Advances to suppliers 946, , , % 7.0% Recoverable Taxes 251, n/a n/a Related-parties credits n/a n/a Other credits and values 23,955 26,287 13,189 (8.9%) 81.6% Noncurrent assets 257, , , % (46.2%) Deferred taxes - 170, ,188 (100.0%) (100.0%) Judicial deposits and blocked escrows 17,834 16,945 15, % 18.7% Advances to suppliers 200, ,043 n/a 11.6% Investments ,184 n/a (100.0%) Property, plant and equipment 2,595 2,783 1,855 (6.8%) 39.9% Intangible 36,371 33,719 29, % 25.3% Other credits and values n/a n/a Liabilities 2,577,469 2,058,860 2,098, % 22.8% Current 1,343,994 1,057,723 1,039, % 29.2% Suppliers 139, , ,116 (4.6%) (3.5%) Salaries 20,570 11,844 15, % 32.5% Dividends and interest on equity payable - 9,089 7,847 (100.0%) (100.0%) Taxes Payable 46,736 16,213 19, % 139.6% Related companies 29,109 15,479 24, % 20.6% Advances from customers 287,557 52,112 52, % 444.2% Deferred revenues 818, , , % 5.8% Obligations with affiliates n/a n/a Other liabilities 2,638 1,584 2, % 10.0% Noncurrent liabilities 242, , , % 18.5% Suppliers - - 1,061 n/a (100.0%) Client advances n/a n/a Provision for legal proceedings 19,088 17,151 14, % 36.0% Deferred revenues 198, , ,415 (3.6%) 4.6% Deferred taxes 25, n/a n/a Other liabilities % n/a Shareholder s equity 991, , , % 16.1% Capital stock 44,874 44,874 43,104 0,0% 4.1% Capital to subscribe n/a n/a (-) Cost of issued shares (1,107) (1,107) (1,344) 0.0% (17.6%) Capital reserve 481, , , % 0.0% Share-based payment % 888.4% Profit Reserve 8,621 8, % n/a Additional dividends proposed n/a n/a Retained earnings 456, , , % 38.1% 8
9 Statement of cash flows Statement of Cash Flows (R$ thousand) 3Q18 2Q18 3Q17 Net Income 212, , , % (37.5%) Share-based payments n/a 544.2% Deferred income and social contribution taxes 195,295 16,440 (170,655) n/a (214.4%) Provision for legal proceedings 5,043 3,071 5, % (0.5%) Depreciation and amortization 4,222 4,421 3,371 (4.5%) 25.2% Discounts in advance ticket purchases (29,369) (32,922) (46,703) (10.8%) (37.1%) Financial restatement of income and social contribution taxes - - (160) n/a (100.0%) Exchange variations, net 4,973 (4,124) 894 (220.6%) 456.3% Interest and amortization of costs on loans n/a (100.0%) Allowance for doubtful accounts (11) 16 3 (168.8%) (466.7%) Netpoints n/a n/a Profit sharing 8,456 3,054 4, % 88.4% Property, plant and equipment Sell (100.0%) (100.0%) Trade receivables 40,822 (13,779) (56,441) (396.3%) (172.3%) Advances to suppliers (432,889) 219, ,778 (297.6%) (301.6%) Anticipated expenditure n/a n/a Recoverable taxes (251,683) 2,346 6 n/a n/a Judicial deposits and blocked escrows (889) (270) (605) 229.3% 46.9% Other assets and liabilities, net 3,453 (1,461) (6,078) (336.3%) (156.8%) Related-Party Transactions (Obligations) 13,630 (10,188) (3,562) (233.8%) (482.7%) Suppliers (10,673) 18,939 (1,832) (156.4%) 482.6% Salaries (24.4%) (15.4%) Advances from customers 235,445 (23,028) (25,063) n/a n/a Deferred revenue 5,332 76,531 17,123 (93.0%) (68.9%) Taxes obligations 73,942 22,658 17, % 320.2% Lawsuits and labor claims (3,106) (1,694) (3,889) 83.4% (20.1%) Interest paid - - (1) n/a (100.0%) Income and social contribution taxes paid (43,419) (39,211) (18,984) 10.7% 128.7% Net cash flows from (used in) operating activities 31, , ,041 (91.1%) (88.3%) Acquisition of property, plant and equipment and intangible assets (6,898) (1,418) (644) 386.5% 971.1% Short-term investments (68,925) 91,217 (123,813) (175.6%) (44.3%) Restrict Cash n/a n/a Capital Increase of Associates n/a n/a Webjet S.A. s absorbed cash n/a (100.0%) Net cash flows used in investing activities (75,823) 89,799 (124,218) (184.4%) (39.0%) Capital Stock n/a n/a Capital increase for exercise of stock options n/a n/a Transaction with related parties n/a n/a Loan Payment n/a n/a Cost of issued shares - - (1,344) n/a (100.0%) Capital Decrease n/a n/a Future capital increase advance n/a n/a Debentures caption n/a n/a Interest on equity paid and dividends paid (9,088) (451,042) (12,582) (98.0%) (27.8%) Merged net assets n/a n/a Net cash flows from (used in) financing activities (9,088) (451,042) (13,926) (98.0%) (34.7%) Effect of exchange variation on cash and cash equivalents (841) (3,062) 72 (72.5%) n/a Net increase (decrease) in cash and cash equivalents (54,248) (9,799) 131, % (141.1%) Cash and cash equivalents at the beginning of the period 281, ,098 71,706 (3.4%) 292.3% Cash and cash equivalents at the end of the period 227, , ,675 (19.3%) 11.5% 9
10 Business Model Smiles started as a single loyalty program, but has evolved into its current coalition model, which features several unique characteristics that allow for the accrual and redemption of Miles from GOL flights and its international partner airlines, as well as Brazil's main commercial banks, including co-branded cards issued by Bradesco, Banco do Brasil and Santander, and a wide network of retail partners. The current model works through (i) the accrual of Miles by Members when they purchase airline tickets with GOL or other partner airlines, or products and services from Business and Financial Partners; Smiles Miles being acquired through the loyalty of these customers to those businesses, and (ii) Awards redemptions by Members when they exchange their Miles for flights on GOL and other partner airlines, or for products and services offered by Commercial and Financial Partners The main sources of our revenues come from (i) redeemed miles revenues, represented by tickets and awards in its network of airline, commercial and financial partners, (ii) interest income between the date the miles were accrued and the date they were redeemed, and (iii) Breakage revenues if issued miles expire without being redeemed. Glossary Awards - Products or services provided to members by a commercial partner as the result of redeeming customer miles loyalty program. Award Products - Product or service, excluding air tickets, provided to members by a commercial partner as the result of redeeming customer loyalty program points. Breakage Estimate Miles expired and not redeemed; it may be expressed as a number of miles, an amount in Brazilian reais or as a percentage of miles issued, depending on the context. Burn/Earn Ratio - The ratio between the number of redeemed and accrued miles in a given period. Free Float - Shares owned by non-controlling shareholders. Miles - The redemption rights of Smiles Program members sold to commercial partners. Smiles & Money - A means of issuing air tickets by combining money and miles. Smiles Program - A multi-loyalty program for several companies, including GOL Linhas Aéreas Inteligentes S.A. This release may contain forward-looking statements related to business prospects, estimates of operating and financial results, and growth prospects for Smiles. These are merely projections and, as such, are based exclusively on management's expectations for Smiles. Such forward-looking statements depend, substantially, on external factors and risks presented in the disclosure documents filed by Smiles, and are, therefore, subject to change without notice. Independent auditors did not review the Company s non-financial information. Some values from this report may differ from the financial statements due to rounding. 10
2Q18 Earnings Release
2Q18 Earnings Release Barueri, July 31, 2018 Smiles Fidelidade S.A. (B3: SMLS3) one of the largest loyalty programs in Brazil with over 14 million members, announces today its 2Q18 results. The financial
More information3Q17 Earnings Release
3Q17 Earnings Release Barueri, November 06, 2017 Smiles Fidelidade S.A. (B3: SMLS3) one of the largest loyalty programs in Brazil with over 12 million members, announces today its 3Q17 results. The financial
More information2Q17 Earnings Release
2Q17 Earnings Release Barueri, August 03, 2017 Smiles S.A. (BM&FBOVESPA: BM&FBOVESPA: SMLE3) one of the largest loyalty programs in Brazil with over 12 million members, announces today its 2Q17 results.
More information1Q17 Earnings Release
1Q17 Earnings Release Barueri, April 27, 2017 Smiles S.A. (BM&FBOVESPA: BM&FBOVESPA: SMLE3) one of the largest loyalty programs in Brazil with over 13 million members, announces today its 1Q17 results.
More information4Q16 Earnings Release
4Q16 Earnings Release Barueri, February 15, 2017 Smiles S.A. (BM&FBOVESPA: SMLE3) one of the largest loyalty programs in Brazil with over 12 million members, announces today its 4Q16 results. The financial
More information2Q15 Earnings Release
2Q15 Earnings Release Barueri, August 4, 2015 - Smiles S.A. (BM&FBOVESPA: SMLE3), one of the largest loyalty programs in Brazil with over 10 million members, announces today its results for 2Q15. The financial
More information1Q15 Earnings Release
1Q15 Earnings Release Barueri, April 28, 2015 - Smiles S.A. (BM&FBOVESPA: SMLE3), one of the largest loyalty programs in Brazil with over 10 million members, announces today its results for 1Q15. The financial
More information1Q14 Earnings Release
1Q14 Earnings Release Barueri, May 6, 2014 Smiles S.A. (BM&FBOVESPA: SMLE3), one of the largest coalition programs in Brazil, with over 9.9 million members, announces today its results for 1Q14. The financial
More informationEarnings Release - 2Q14
Earnings Release - 2Q14 Barueri, July 31, 2014 Smiles S.A. (BM&FBOVESPA: SMLE3), one of the largest loyalty programs in Brazil with over 10 million members, announces today its results for 1Q14. The financial
More informationIndividual and Consolidated Quarterly Information (ITR) for the quarter ended June 30, 2017 Smiles S.A.
Individual and Consolidated Quarterly Information (ITR) for the quarter ended Smiles S.A. with Independent Auditors Review Smiles S.A. Individual and consolidated quarterly information (ITR) Contents Comments
More informationIndividual and Consolidated Quarterly Information (ITR) for the quarter ended March 31, 2018 Smiles Fidelidade S.A.
Individual and Consolidated Quarterly Information (ITR) for the quarter ended Smiles Fidelidade S.A. with Independent Auditors Review Smiles Fidelidade S.A. Individual and consolidated quarterly information
More informationIndividual and Consolidated Quarterly Information (ITR) for the quarter ended June 30, 2018
Individual and Consolidated Quarterly Information (ITR) for the quarter ended Smiles Fidelidade S.A. with review report of independent auditors Smiles Fidelidade S.A. Individual and consolidated quarterly
More informationR E S U L T S P R E S E N T A T I O N 3 Q 1 8
R E S U L T S P R E S E N T A T I O N 3 Q 1 8 Disclaimer This material reflects management s expectations and may contain estimates related to future events. Any information, data, forecasts or future
More informationIndividual and consolidated Financial Statements
(Free translation into English from original previously issued in Portuguese) Individual and consolidated Financial Statements Smiles Fidelidade S.A. with independent auditors s report Smiles Fidelidade
More informationIndividual and Consolidated Quarterly Information - ITR for the quarter ended September 30, 2016 Smiles S.A.
Individual and Consolidated Quarterly Information - ITR for the quarter ended September 30, 2016 Smiles S.A. September 30, 2016 with Independent Auditors Review Smiles S.A. Individual and consolidated
More information3Q13 Earnings Release
3Q13 Earnings Release São Paulo, October 31, 2013 Smiles S.A. (BM&FBOVESPA: SMLE3), one of the largest coalition programs in Brazil, with more than 9.5 million members, announces today its results for
More informationFinancial Statements Smiles S.A.
(Free translation into English from the original previously issued in Portuguese) Financial Statements Smiles S.A. December 31, 2015 and Independent Auditor s Report Individual and consolidated financial
More informationR E S U L T S P R E S E N T A T I O N 1 Q 1 8
R E S U L T S P R E S E N T A T I O N 1 Q 1 8 Disclaimer This material reflects management s expectations and may contain estimates related to future events. Any information, data, forecasts or future
More information(Free Translation into English from the Original previously issued in Portuguese)
(Free Translation into English from the Original previously issued in Portuguese) Smiles S.A. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditor s Report Individual
More informationR E S U L T S P R E S E N T A T I O N 4 Q 1 8 a n d 2018
R E S U L T S P R E S E N T A T I O N 4 Q 1 8 a n d 2018 Disclaimer This material reflects management s expectations and may contain estimates related to future events. Any information, data, forecasts
More information(Convenience Translation into English from the Original Previously Issued in Portuguese)
(Convenience Translation into English from the Original Previously Issued in Portuguese) Smiles S.A. Interim Financial Information for the Quarter Ended March 31, 2013 and Report on Review of Interim Financial
More informationSMILES FIDELIDADE S.A. 4Q17 RESULTS PRESENTATION. February 28 th 2018
SMILES FIDELIDADE S.A. 4Q17 RESULTS PRESENTATION February 28 th 2018 Disclaimer This material reflects management s expectations and may contain estimates related to future events. Any information, data,
More informationMATERIAL FACT SMILES GOL GOL SMILES Operating Agreement GLA Companies Group Reorganization Independent Committee CVM s Opinion 35
MATERIAL FACT SMILES Fidelidade S.A. (B3: SMLS3) ( SMILES ) informs that, on October 15, 2018, SMILES s controlling shareholder, GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4 e NYSE: GOL) ( GOL ) disclosed
More informationInterim Financial Information
Interim Financial Information Multiplus S.A. With Independent Auditor s Report Mplu 1 MANAGEMENT DISCUSSION In the first quarter of 2018, we maintained a growth trend in our base of members, which reached
More informationSMILES S.A. INSTITUTIONAL PRESENTATION. November/2017
SMILES S.A. INSTITUTIONAL PRESENTATION November/2017 Disclaimer This notice reflects the expectations of the Company s management and may contain estimates for future events. Any information, data, forecasts
More informationVRG Linhas Aéreas S.A.
(Convenience Translation into English from the Original Previously Issued in Portuguese) VRG Linhas Aéreas S.A. and Financial Statements for the Years Ended December 31, 2013 and 2012 and Independent Auditor
More informationVRG Linhas Aéreas S.A.
(Convenience Translation into English from the Original Previously Issued in Portuguese) VRG Linhas Aéreas S.A. and Financial Statements for the Years Ended December 31, 2012 and 2011 and Independent Auditor
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6 K
6 K 1 goldf1q15_6k.htm DF 1Q15 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6 K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a 16 OR 15d 16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the
More information3Q17 Results. CONFERENCE CALL ON RESULTS October 25, :00 p.m. (Brazil) / 11:00 a.m. (US-EST)
3Q17 Results CONFERENCE CALL ON RESULTS October 25, 2017 1:00 p.m. (Brazil) / 11:00 a.m. (US-EST) Access in Portuguese: +55 11 3127-4971 +55 11 3728-5971 Access in English: +1 516-300-1066 Password: Lojas
More informationEarnings Report. Third Quarter 2018
Conference call connection details 3Q18 Earnings Calls Thursday, November 1, 2018 Live Webcast (www.voegol.com.br/ri) In English 11:00 a.m. (US EDT) 12:00 p.m. (Brasília) Phone: +1 (412) 317-5453 Code:
More informationMembers accumulate points from different programs into a single account and the partners have the opportunity to increase their sales
1 BUSINESS Brazil s largest coalition program, with a network of Loyalty programs, allowing the accrual and redemption of points in various partners and Loyalty programs ACTIVITIES We manage the member
More informationMembers accumulate points from different programs into a single account and the partners have the opportunity to increase their sales
BUSINESS Brazil s largest coalition program, with a network of Loyalty programs, allowing the accrual and redemption of points in various partners and Loyalty programs ACTIVITIES We manage the member accrual
More informationInterim Financial Statements Multiplus S.A. September 30, 2016 with Independent Auditor s Report
Interim Financial Statements Multiplus S.A. with Independent Auditor s Report MESSAGE FROM THE MANAGEMENT The third quarter of 2016 saw a more robust performance in terms of the volume of points issued
More informationINSTITUTIONAL PRESENTATION
INSTITUTIONAL PRESENTATION BUSINESS Brazil s largest coalition program, with a network of Loyalty programs, allowing the accrual and redemption of points in various partners and Loyalty programs ACTIVITIES
More informationIndividual and Consolidated Financial Statements. GOL Linhas Aéreas Inteligentes S.A. December 31, 2016 with Independent Auditors Report
Individual and Consolidated Financial Statements GOL Linhas Aéreas Inteligentes S.A. December 31, 2016 with Independent Auditors Report Gol Linhas Aéreas Inteligentes S.A. Individual and consolidated financial
More informationSCRIPT KAKINOFF RESULTS 3Q18
SCRIPT KAKINOFF RESULTS 3Q18 Kakinoff: Good morning, ladies and gentlemen, and welcome to GOL Airline s third quarter 2018 results presentation. I am Paulo Kakinoff, CEO and I am joined by Richard Lark,
More information4Q17 Results. CONFERENCE CALL ON RESULTS February 09, :00 p.m. (Brazil) / 10:00 a.m. (US-EST)
4Q17 Results CONFERENCE CALL ON RESULTS February 09, 2018 1:00 p.m. (Brazil) / 10:00 a.m. (US-EST) Access in Portuguese: +55 11 3127-4971 +55 11 3728-5971 Access in English: +1 516-300-1066 Password: Lojas
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6-K
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2019 (Commission
More information2Q17 RESULTS. Conference Call: Aug/11th :00 (BZ) / 13:00 (ET) Dial-in: Portuguese: +55 (11) English: +1 (646)
2Q17 RESULTS Conference Call: Aug/11th - 2017 14:00 (BZ) / 13:00 (ET) Dial-in: Portuguese: +55 (11) 2188-0155 English: +1 (646) 843 6054 Access Code: Marisa Webcast: www.marisa.com.br/ri Investor relations
More informationFinancial Statements CVC Brasil Operadora e Agência de Viagens S.A. and Subsidiary. December 31, 2013 With Independent Auditor s Report
Financial Statements CVC Brasil Operadora e Agência de Viagens S.A. and Subsidiary December 31, 2013 With Independent Auditor s Report and Subsidiary Financial Statements December 31, 2013 Contents Independent
More informationQuarterly Information. GOL Linhas Aéreas Inteligentes S.A. March 31, 2008
Quarterly Information GOL Linhas Aéreas Inteligentes S.A. March 31, 2008 QUARTERLY INFORMATION March 31, 2008 Index Special Review Report... 1 Quarterly Information ITR Balance Sheets... 3 Statements of
More information4Q16 Results. CONFERENCE CALL ON RESULTS February 10, :00 p.m. (Brazil) / a.m. (US-EST)
CONFERENCE CALL ON RESULTS February 10, 2017 1:00 p.m. (Brazil) / 10.00 a.m. (US-EST) 4Q16 Results Access in Portuguese: +55 11 3127-4971 +55 11 3728-5971 Access in English: +1 516-300-1066 Password: Lojas
More informationConsolidated Financial Statements under US GAAP GOL Linhas Aéreas Inteligentes S.A.
Consolidated Financial Statements under US GAAP GOL Linhas Aéreas Inteligentes S.A. Years ended at, with Report of Independent Registered Public Accounting Firm CONSOLIDATED FINANCIAL STATEMENTS Contents
More informationIndividual and consolidated Financial Statements. GOL Linhas Aéreas S.A. December 31, 2017
Individual and consolidated Financial Statements GOL Linhas Aéreas S.A. December 31, 2017 GOL Linhas Aéreas S.A. Individual and consolidated financial statements December 31, 2017 Contents Management report...
More informationFinancial Statements Rede D Or São Luiz S.A. December 31, 2013, 2012 and 2011 with Independent Auditor s Report on Financial Statements
Financial Statements Rede D Or São Luiz S.A. with Independent Auditor s Report on Financial Statements Financial statements Contents Independent auditor s report on financial statements... 1 Audited financial
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6 K
6 K 1 gol20170425_6k.htm GOL20170425_6K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6 K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a 16 OR 15d 16 OF THE SECURITIES EXCHANGE ACT OF 1934
More informationInterim Financial Statements (ITR) MRV Engenharia e Participações S.A.
Interim Financial Statements (ITR) MRV Engenharia e Participações S.A. Interim Individual and Consolidated Financial Statements for the Quarter ended March 31, 2018 and Report on Review of Interim Financial
More informationTarpon Investimentos S.A.
(Convenience Translation into English from the Original Previously Issued in Portuguese) Individual and Consolidated Interim Financial Statements for the Quarter and Six-month Period Ended June 30, 2018
More informationInterim Financial Information (ITR) MRV Engenharia e Participações S.A.
Interim Financial Information (ITR) MRV Engenharia e Participações S.A. Individual and Consolidated Interim Financial Information for the quarter Ended June 30, 2015 and Report on Review of Interim Financial
More informationResults for the 4 th quarter 2016 February 23, 2017
Results for the 4 th quarter 2016 February 23, 2017 20.1 billion points issued in the fourth quarter 17.9 billion points redeemed, 17.4% of these points redeemed for retail products Burn/earn rate of 89%
More informationTOTVS S.A. Interim financial information (ITR) at June 30, 2017 and Independent auditor s report on the review of interim financial information
TOTVS S.A. Interim financial information (ITR) at June 30, 2017 and Independent auditor s report on the review of interim financial information Interim financial information (ITR) - 6/30/2017 - TOTVS S.A.
More informationResults 3Q18. October 25, 2018 B3: LREN3; USOTC:LRENY. CONFERENCE CALL ON RESULTS October :00 p.m. (Brazil) / 12 noon (US-EST)
Results 3Q18 October 25, 2018 B3: LREN3; USOTC:LRENY CONFERENCE CALL ON RESULTS October 26. 2018 1:00 p.m. (Brazil) / 12 noon (US-EST) Access in Portuguese: +55 11 3127-4971 ou +55 11 3728-5971 Access
More informationEARNINGS RELEASE 3Q17
EARNINGS RELEASE 3Q17 20.9 billion of points issued in 3Q17 18.0 billion points redeemed, 15.1% of these points redeemed for non-air products and services 18.7 million members, an annual increase of 24.0%
More informationFinancial statements Marisa Lojas S.A.
Financial statements Marisa Lojas S.A. Independent auditor s report 7 Marisa Lojas S.A. Financial statements Contents Independent auditor s report on financial statements... 1 Audited financial statements
More informationIn 4Q17, Brazil s #1 airline achieved a 13% EBIT margin the highest in 6 years while growing net revenues by 12%
In 4Q17, Brazil s #1 airline achieved a 13% EBIT margin the highest in 6 years while growing net revenues by 12% Operating income for the quarter doubled, reaching R$388 million São Paulo, March 7, 2018
More information6-K 1 golitr2q18_6k.htm INDIVIDUAL AND CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE QUARTER ENDED JUNE 30, 2018
6-K 1 golitr2q18_6k.htm INDIVIDUAL AND CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE QUARTER ENDED JUNE 30, 2018 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN
More informationIndividual and consolidated Interim Financial Information for the quarter ended March 31, 2018
(Free translation into English from original previously issued in Portuguese) Individual and consolidated Interim Financial Information for the quarter ended GOL Linhas Aéreas Inteligentes S.A. with review
More information3Q18 EARNINGS. Food Business Multivarejo Assaí. (R$ million) (1) 3Q18 3Q17 Δ 3Q18 3Q17 Δ 3Q18 3Q17 Δ 3Q18 3Q17 Δ
São Paulo, October 25, 2018 - GPA [B3: PCAR4; NYSE: CBD] announces its results for the third quarter of 2018. Due to the ongoing divestment of the interest held by GPA in Via Varejo S.A., as announced
More informationFinancial statements EZ TEC Empreendimentos e Participações S.A. and Subsidiaries
Financial statements EZ TEC Empreendimentos e Participações S.A. and Subsidiaries December 31, 2013 with Independent Auditor s Report EZ Tec Empreendimentos e Participações S.A. and Subsidiaries Financial
More information2Q15 Earnings Release
São Paulo, August 13, 2015 - (BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B-, Moody s: B3), the largest low-cost and best-fare airline in Latin America, announces today its consolidated results
More informationQualicorp Consultoria e Corretora de Seguros S.A.
Qualicorp Consultoria e Corretora de B3: QUAL3 Shares Outstanding (9/28/2018) 283,176,826 shares Free Float (9/28/2018) 237,835,371 shares ( 84.0%) Cash and Cash Equivalents (9/28/2018) R$596.6 million
More informationCETIP S.A. Mercados Organizados
(A free translation of the original in Portuguese) CETIP S.A. Mercados Organizados Condensed interim financial statements as at Condensed interim financial statements as at Contents Comments on performance
More informationInterim Financial Information (unaudited) CVC Brasil Operadora e Agência de Viagens S.A. and Subsidiary. March 31, 2014
Interim Financial Information (unaudited) CVC Brasil Operadora e Agência de Viagens S.A. and Subsidiary and Subsidiary Interim Financial Information (unaudited) Contents Report on review of interim financial
More informationIndividual and consolidated Quarterly Information Form (ITR) for the quarter ended June 30, 2017
Individual and consolidated Quarterly Information Form (ITR) for the quarter ended GOL Linhas Aéreas Inteligentes S.A. with Report on review of the quarterly information Gol Linhas Aéreas Inteligentes
More informationIndividual and consolidated Interim Financial Information for the quarter ended June 30, 2018
(Free translation into English from original previously issued in Portuguese) Individual and consolidated Interim Financial Information for the quarter ended GOL Linhas Aéreas Inteligentes S.A. with report
More informationConsolidated Income Statement - (R$ MM) Balance Sheet 1Q Equity 2, , % Net Debt¹ % O ther 1Q
Qualicorp S.A. BOVESPA: QUAL3 Shares Outstanding (3/30/2018) 283,176,825 shares São Paulo, May 10th 2018. QUALICORP S.A (B3: QUAL3), one of the leading full-service healthcare benefits trader, administrator
More informationFinancial Statements. GOL Linhas Aéreas Inteligentes S.A.
Financial Statements GOL Linhas Aéreas Inteligentes S.A. Years ended at, with Report of Independent Registered Public Accounting Firm FINANCIAL STATEMENTS Index Report of Independent Registered Public
More informationFinancial Statements Cimento Tupi S.A. December 31, 2012 with Independent Auditors Report on Financial Statements
Financial Statements Cimento Tupi S.A. December 31, 2012 with Independent Auditors Report on Financial Statements Financial statements December 31, 2012 Contents Independent auditors report on financial
More informationPro Forma Consolidated Financial Statements. GOL Linhas Aéreas Inteligentes S.A.
Pro Forma Consolidated Financial Statements GOL Linhas Aéreas Inteligentes S.A. Years ended at, with Report of Independent Registered Public Accounting Firm PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS
More informationGOL records operating income of R$153.8 million and EBIT margin of 6.1% in 1Q15
GOL records operating income of R$153.8 million and EBIT margin of 6.1% in 1Q15 São Paulo, May 12, 2015 -. (BM&FBOVESPA: GOLL4 e NYSE: GOL), (S&P: B, Fitch: B-, Moody s: B3), the largest low-cost and best-fare
More informationEBITDA of R$ 76.0 million (+18.4%), with a 25.4% margin (+3.8 p.p.). Higher full-price sales volume, with 46.5% reduction of remarked-price sales.
São Paulo, Brazil, May 7, 2018 - Restoque Comércio e Confecções de Roupas S.A. ( Company ) (LLIS3), leading company in the premium clothing and apparel retail industry in Brazil, presents its results for
More information3Q18 EARNINGS RELEASE. Viver Announces its Results for the Third Quarter of Highlights
3Q18 EARNINGS RELEASE Conference Call Wednesday, November 14 th, 2018 Portuguese (with simultaneous interpreting into English) 11:00 a.m. (Brasilia) 08:00 a.m. (New York) Phone: +55 (11) 3728-5971 +55
More informationSprings Global: E-commerce revenue more than doubled yoy
Springs Global: E-commerce revenue more than doubled yoy São Paulo, August 14 th, 2018 - Springs Global Participações S.A. (Springs Global), the Americas largest company in bedding, tabletop and bath products,
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6 K
6 K 1 gol20170130_6k.htm FORM 6 K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6 K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a 16 OR 15d 16 OF THE SECURITIES EXCHANGE ACT OF 1934 For
More informationLOJAS RENNER S.A. EARNINGS RESULTS FOR THE FOURTH QUARTER (4Q15) LOJAS RENNER S.A.
4Q15 Results LOJAS RENNER S.A. The Company was incorporated in 1965 and has been listed since 1967. A pure widely held capital company since 2005 with a 100% free float, Lojas Renner was deemed the first
More informationTarpon Investimentos S.A.
(Convenience Translation into English from the Original Previously Issued in Portuguese) Tarpon Investimentos S.A. Individual and Consolidated Financial Statements For the Year Ended December 31, 2016
More informationNET INCOME REACHES R$1.0 BILLION AND CIELO BRASIL FINANCIAL VOLUME EX AGRO GROWS 4.3% IN 1Q17
NET INCOME REACHES R$1.0 BILLION AND CIELO BRASIL FINANCIAL VOLUME EX AGRO GROWS 4.3% IN 1Q17 Barueri, May 2, 2017 Cielo S.A. (BM&FBOVESPA: CIEL3 / OTCQX: CIOXY) announces today its results for the first
More informationInterim Condensed Consolidated Financial Statements. Azul S.A. For the three months ended March 31, 2017
Interim Condensed Consolidated Financial Statements Azul S.A. For the three months ended Unaudited Interim condensed consolidated financial statements Contents Earnings release... 2 Interim consolidated
More information09/08/2017 golitr2q17_6k.htm - Generated by SEC Publisher for SEC Filing
6-K 1 golitr2q17_6k.htm ITR 2Q17 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For
More informationPositivo Tecnologia posts a 35.4% growth in PCs sales in Brazil during 2Q18
Positivo Tecnologia posts a 35.4% growth in PCs sales in Brazil during 2Q18 Curitiba, August 14, 2018 Positivo Tecnologia S.A. (B3: POSI3) announces today its results for the 2Q18. The following financial
More information2009 Earnings Release
NETC4: R$ 21.85 /share (BM&FBOVESPA) NETC: US$ 11.92 /ADR (NASDAQ) XNET: EUR 8.71 /share (Latibex) Total Shares: 342,963,601 Market Capitalization: R$ 7.5 billion Closing Price: 02/09/2010 São Paulo, Net
More informationValid reports Net Revenue of R$412.1 million in 3Q17, down 3.2% from 3Q16 and up 5.2% from 2Q17.
Valid reports Net Revenue of R$412.1 million in, down 3.2% from and up 5.2% from 2Q17. Rio de Janeiro, November 8 th 2017 Valid (B 3 : VLID3 - ON) announces today its results for the third quarter of 2017
More information1Q18 Earnings Conference Call
1Q18 Earnings Conference Call CONFERENCE CALL ON RESULTS May 04, 2018 1:00 p.m. (Brazil) / 12 noon (US-EST) Access in Portuguese: +55 11 3127-4971 or +55 11 3728-5971 Access in English: +1 516-300-1066
More informationInterim Condensed Consolidated Financial Statements. Azul S.A. As of and for the three-months ended March 31, 2018
Interim Condensed Consolidated Financial Statements Azul S.A. As of and for the three-months ended Unaudited Interim condensed consolidated financial statements Contents Interim consolidated statement
More informationEarnings Release - 1Q18
Earnings Release - 1Q18 Fortaleza (CE), May 14 th 2018 Hapvida Participações e Investimentos S.A. (B3:HAPV3), the third largest health and dental plan operator in Brazil, and absolute leader in the country's
More informationQualicorp Consultoria e Corretora de Seguros S.A.
Qualicorp Consultoria e Corretora de BOVESPA: QUAL3 Shares Outstanding (6/30/2018) 283,176,826 shares Free Float (6/30/2018) 282,276,689 shares ( 99.7%) Cash and Cash Equivalents (6/30/2018) R$400.0 million
More informationDIRECIONAL ANNOUNCES RESULTS OF 3Q18 WITH CASH GENERATION OF BRL 287 MILLION AND 54% INCREASE IN NET REVENUE COMPARED TO 3Q17.
RELEASE OF RESULTS Belo Horizonte, November 08, 2018 - The Direcional Engenharia S.A., one of the largest real estate development and construction companies in Brazil, with focus on the development of
More information3Q16 EARNINGS RELEASE. Viver Announces its Results for the Third Quarter of Highlights
3Q16 EARNINGS RELEASE Conference Call Wednesday, Nov 16, 2016 Portuguese (With simultaneous translation into English) 10:00 a.m. (Brasilia) 09:00 a.m. (New York) Phone: +55 (11) 3728-5971 +55 (11) 3127-4971
More information1Q11 Results Conference Call and Webcast
1Q11 Results Conference Call and Webcast May 6, 2011 (Friday) Time: 11:00 a.m. (US EDT) - 12:00 p.m. (Brazil) Phone: +1 (786) 924.6977 - Code: B2W Webcast: www.b2winc.com/webcast1q101 Replay: until May
More informationFinancial Statements Magazine Luiza S.A.
Financial Statements Magazine Luiza S.A. and 2015 with Independent Auditor s Report Financial statements and 2015 Contents Independent auditor s report on financial statements... 1 Statement of financial
More informationTelemar Norte Leste S.A.
(Convenience Translation into English from the Original Previously Issued in Portuguese) REPORT ON REVIEW OF INTERIM FINANCIAL STATEMENTS To the Board of Directors and Shareholders of Rio de Janeiro RJ
More informationInterim Condensed Consolidated Financial Statements. Azul S.A. As of and for the six-months ended June 30, 2018
Interim Condensed Consolidated Financial Statements Azul S.A. As of and for the six-months ended Unaudited Interim condensed consolidated financial statements Contents Interim consolidated statements of
More informationIndependent auditor s report on individual and consolidated financial statements
São Paulo Corporate Towers Av. Presidente Juscelino Kubitschek, 1.909 Vila Nova Conceição 04543-011 - São Paulo SP - Brasil Tel: +55 11 2573-3000 ey.com.br Convenience translation into English from the
More informationEARNINGS RELEASE 1Q18 RESULTADOS
EARNINGS RELEASE 1Q18 CONFERENCE CALL IN ENGLISH May 11 th, 2018 - Friday 10:00 a.m. (US ET) 11:00 a.m. (BRT) / 3:00 p.m. (London) Connecting Number: +1 (412) 317 6776 Code: Valid Webcast: click here Valid
More informationFinancial Statements. Alpargatas S.A. December 31, 2013 with Independent Auditor s Report
Financial Statements Alpargatas S.A. with Independent Auditor s Report Financial statements and 2012 Contents Independent auditor s report on financial statements... 1 Audited financial statements Balance
More informationCommenting on the results, President & CEO Petros Diamantides said:
São Paulo, Brazil, May, 24 th 2018 - Metalfrio Solutions S.A. (FRIO3) ( Metalfrio ), one of the world s largest manufacturers of plug in commercial refrigeration equipment, announces its results for the
More informationT4F Entretenimento S.A.
T4F Entretenimento S.A. Earnings Release T4F Entretenimento S.A. B3: SHOW3 Quotation Closing on March 31, 2018: R$10.60 Average Volume: 273.4 thousand (0.77% of the free float) Price on May 9, 2018: R$9.90
More informationHighlights. CVC generated double-digit year-over-year growth rates in Bookings, Boardings, Adjusted EBITDA and Adjusted Net Income in 2Q15
Santo André, August 05, 2015: CVC Brasil Operadora e Agência de Viagens S.A. (BM&FBOVESPA: CVCB3), the largest tour operator in Americas, hereby informs its shareholders and other market participants of
More informationSprings Global: focus on South America, with a more robust financial structure
Springs Global: focus on South America, with a more robust financial structure São Paulo, April 5 th, 2019 - Springs Global Participações S.A. (Springs Global), the Americas largest company in bedding,
More information2Q17 Net Revenues reached R$304.2 million, 4.7% below prior year, with revenues in Europe at historical high levels
São Paulo, Brazil, August, 8 th 2017 - Metalfrio Solutions S.A. (FRIO3) ( Metalfrio ), one of the world s largest manufacturers of plug in commercial refrigeration equipment, announces its results for
More information