Results August 11, 2017
Highlights Consolidated JSL Consolidated Net Revenue of R$1.8 billion in (+10.6% YoY); Net Revenue from Services of R$1.2 billion in (+6% YoY); Net Revenue from Sale of Assets of R$448.6 million in (+27.5% YoY); EBITDA of R$ 304.8 million (+3.1% YoY) and EBITDA Margin of 22.2% in ; Net Income of R$ 13.9 million in ; Net Investment of R$322.9 million in, boosted by seasonal purchases of Movida in ; Free Cash Flow to Firm of R$413 million (LTM); Total debt raised of over R$3.5 billion until July 2017, including the first bond of JSL with a maturity of 7 years, which increases the average maturity of the consolidated debt from 2.5 years to 4 years, diversifying the investor base which becomes global. Obs.: References are in slide 8. 2
Net Revenue (R$ million) JSL Logística 1,00 90 Movida 1,024.4 70.5 1,067.5 103.1 953.9 1.1% 964.4 Services 4.2% 46.2% Sale of Assets 80 70 60 50 40 30 20 10 590.5 26.9% 465.3 24.2% 349.7 281.6 8.5% 48.6 44.8 38.4% 138.9 192.2 RAC GTF Sale of Assets Dealerships Consolidated¹ 2,00 1,80 1,60 1,40 1,655.7 351.7 10.6% 27.6% 1,830.5 448.6 1,20 1,00 80 60 1,133 6% 1,200.9 218.5-9.7% 197.4 Obs.: References are in slide 8. 40 20 218.5-9.7% 14.6 197.4 Dealerships JSL Leasing Services ² Sale of Assets ² 3
Consolidated EBITDA and Net Profit (R$ million) Consolidated EBITDA and EBITDA Margin 40 35 22.8% 22.2% 30 25 20 3.1% 15 295.5 304.8 10 5 2 Consolidated Net Result 25% 2% 15% 1% 5% % Movida JSL Logística The resilience of the EDITDA of R$ 228.1 million and maintenance of the EBITDA margin at 23.7% for the annual comparison demonstrates our business strength, despite the challenging macroeconomic scenario. EBITDA of R$ 71.5 million in (+12.3% YoY) due to expansion of the total average operational fleet (more than 10,000 cars), which resulted in the opening of 34 new points of sale in the period. 15 1 5-5 -1-15 -2-16.9 13.9 The Net Income was R$ 13.9 million in, mainly due to the R$ 32.9 million reduction in net financial expenses over, as well as the resilience in JSL Logística s cash generation. 4
Sale of Assets Renewal Net Expansion 5 Consolidated JSL CAPEX (R$ million) 782 56% of the gross investment JSL Logística R$ 64.5 MM Movida R$ 367 MM Dealerships R$ 8.9 MM 440 459 44% of the gross investment JSL Logística R$ 98.6 MM Movida R$ 243.2 MM 342 323 Gross Capex Revenue from Sale of Net Capex R$ 601 million invested in light Assets vehicles in 3Q16 JSL Logística R$ 106.4 MM Movida R$ 350.2 MM Dealerships R$ 6.8 MM Elimination R$ 4.2 MM Consolidated Net Investment of R$ 323 million in, stimulated by seasonal purchases of Movida to meet the high demand of July (vacation period), in line with the budget established in the beginning of 2017 JSL Logística R$ 56.6 MM Movida R$ 26 MM Other R$ 6.4 MM
Consolidated JSL Indebtedness (R$ million) Gross Debt Amortization Schedule Proform fund-raising 3Q17 Short-Term Long-Term 1,019 Gross Debt Confirming Payables Movida Debentures Bond 400 2,058 2,058 Liquidity Confirming Payables 8% BNDES + Leasing 23% 3Q17 Fund Raising Profile Capital Market (CRA + Debentures) 36% Bank 33% 580 75 75 125 1,475 1,406 1,203 1,008 1,019 850 125 352 131 26 jul/17 to jun/18 jul/18 to dec/18 2019 2020 2021 2022 2023 2024 to 2025 Profile Proform fund-raising 3Q17 Confirming Payables 7% BNDES + Leasing 19% Capital Market (Bond + CRA + Debentures) 47% Bank 27% Leverage Indicators Net Debt / EBITDA¹ 4,57x Net Debt / EBITDA-A 1,93x EBITDA-A / Net Interest 4,22x Obs.: References are in slide 8. 6
JSL Results (R$ million) Logística Movida Concessionárias Leasing Consolidated¹ Gross Revenue 1,236.7 617.5 216.5 14.4 2,045.5 Net Revenue 1,067.5 590.5 197.4 14.6 1,830.5 Net Revenue from Services 964.4 240.8 190.7 14.6 1,375.1 EBIT 118.2 53.3 2.2 0.9 174.6 EBIT Margin * 12.3% 22.1% 1.1% 6.4% 12.7% EBITDA 228.1 71.5 4.3 0.9 304.8 EBITDA Margin * 23.7% 29.7% 2.2% 6.5% 22.2% EBITDA-A 330.8 404.2 10.1 0.9 741.8 EBITDA-A Margin 31% 68.4% 5.1% 6.5% 40.5% Net Result - 11.1 - - 13.9 Net Margin - - - - 0.8% Logística Movida Concessionárias Leasing Consolidated¹ Gross Revenue 4,819.8 2,269.1 874 42.6 7,830.4 Net Revenue 4,124.4 2,165.4 802.7 42.4 6,960.7 Net Revenue from Services 3,740.3 905.2 783.6 42.4 5,313.3 EBIT 331.3 217.5 (28.6) 0.4 520.6 EBIT Margin * 8.9% 24% -3.6% 0.9% 9.8% EBITDA 788.5 288.3 (6.2) 16 1,085.4 EBITDA Margin * 21.1% 31.9% -0.8% 37.8% 20.4% EBITDA-A 1,165.6 1,475.9 13.3 16 2,655.8 EBITDA-A Margin 28.3% 68.2% 1.7% 37.8% 38.2% Net Result - 45.1 - - (170.6) Net Margin - - - - -2.5% * Calculated on net revenue from services Obs.: References are in slide 8. 7 - Last 12 months
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 Logística and Movida Slide 6: ¹ Last 12 months, considering impairment of R$34.8 million Slide 7: ¹ Considers eliminations between companies of the group JSL S.A. Investors Relations Phone: (11) 3154-4043 / Fax: (11) 2377-7495 E-mail: ri@jsl.com.br www.jsl.com.br/ri