Technos S.a. · BMFBOVESPA:TECN3
Technos — Q3 2018 Earnings Presentation
9 slides from Technos's earnings presentation, November 2018
Slide 1: 3Q18 Results
3Q18 RESULTS 3Q18 RESULTS
Slide 2: 3Q18 Highlights
3Q18 HIGHLIGHTS Net revenues Reached R$71.2 million, representing a 7.3% decrease Gross margin Remained stable compared to 3Q17 (47.1%) SG&A Decreased by 5.4%, or R$2.0 million, compared to 3Q17 Net income Increased by R$3.3 million compared to 3Q17 Adjusted EBITDA Totaled R$1.7 million in 3Q18 Cont
Slide 3: Gross Revenue; Volume of Watches vs. Average Price
GROSS REVENUE GROSS REVENUE Gross revenue: 273,7 93,9 233,9 • R$84.8 million (-9.7%) in 3Q18 84,8 • R$233.9million (-14.5%) in 9M18 3Q17 3Q18 2017 2018 VOLUME OF WATCHES VS. AVERAGE PRICE Volume: 1.789 635 1.566 • 565 thousand (-11.1%) in 3Q18 565 • 1,566 Thousand (-12.4%) in 9M18 148 150 Average Pr
Slide 4: Gross Profit and Gross Margin
GROSS PROFIT AND GROSS MARGIN GROSS PROFIT AND GROSS MARGIN 106,8 36,1 95,1 33,5 48.4% 47.0% 47.1% 47.9% 3Q17 3Q18 2017 2018 Gross Profit (R$ M) Gross Margin (%) Gross Profit: Gross Margin : • R$33.5 million (-7.3%) in 3Q18 • 47.1% (+0.1 p.p.) in 3Q18 •R$95.1 million (-10.9%) in 9M18 •48.4% (+0.6 p.
Slide 5: SG&A
SG&A SALES EXPENSES 86,1 28,6 80,0 26,4 Sales Expenses: • R$26.4 million (-7.8%) in 3Q18 40.7% 37.1% 38.6% • R$80.0 million (-7.1%) in 9M18 37.3% 3Q17 3Q18 2017 2018 Sales Expenses (R$ M) Net Revenue (%) ADMINISTRATIVE EXPENSES 1.9% 27,4 26,8 9,3 9,4 Administrative Expenses: • R$9.4 million (1.9%) i
Slide 6: Adjusted EBITDA
ADJUSTED EBITDA ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN 7,0 3,4 3.2% 1,7 4.4% 0.5% 2.5% 1,0 3Q17 3Q18 2017 2018 Adjusted EBITDA (R$ M) Adjusted EBITDA Margin (%) Adjusted EBITDA : Adjusted EBITDA Margin : • R$1.7 million (-48.5%) in 3Q18 • 2.5% (-2.0 p.p.) in 3Q18 • R$1.0 million (-86.1%) in 9M18
Slide 7: Working Capital
WORKING CAPITAL R$ million 3Q17 Days 3Q18 Days (+) Accounts receivable 172.7 183 140.2 161 (+) Inventories 140.4 287 145.0 307 (-) Accounts payable 35.7 73 68.0 144 (=) Working capital 277.4 397 217.2 324 • Accounts Receivable : -22 days • Inventories : +20 days • Accounts Payable : +71 days • Total
Slide 8: Net Cash
NET CASH R$ milhões 3Q17 2Q18 3Q18 Gross debt (89.2) (101.2) (99.9) (-) Cash 12.0 47.1 50.9 (=) (Debt)/Net cash (77.2) (54.1) (49.0) NET DEBT • R$28.3 million drop (-36.6%) compared to September 30, 2017 – gross debt raise (R$ 10.7 million) and cash raise (R$ 38.9 million) • R$5.1 million decrease a
Slide 9: Disclaimer
DISCLAIMER The material that follows is a presentation of general background information about Technos S.A. and its subsidiaries (the “Company”), as of the date of the presentation, solely for meetings held with potential investors in connection with the proposed offering outside of Brazil of common