2Q14 RESULTS
Jul 03, 2015
2Q14 RESULTS
A quarter of record-breaking reaffirming the successful strategy of Kepler Weber
o Net revenues: growth of 76.0% to R $ 226.7 million, reflecting the excellent time in the agribusiness market and the successful diversification of the Company's strategy.
o Gross Profit: R$56.4 million, growth of 85.8% due primarily to productivity gains and increased volumes.
o Net Profit: Historical growth for 2Q14 188.2% to R$ 25.1 million, resulting from improved operating results.
o EBITDA: R$ 44.7 million, an increase of 114.8% and a margin of 19.7%, maintaining margins with best-in-class to world levels in agribusiness.
o Cash generation: reached R$ 55.5 million, a significant increase compared to the same period last year (R$ 29,1 million in 2Q13).
o Net debt: at the end of the 2Q14 was negative R$ 25.8 million, an increase of R$ 23.6 million compared to the end of 2013.
2
28,542
157,935
+62,723 (+26%)
2Q14
299,911
16,610 7,299 23,962
252,039
2Q13
237,188
43,294
7,418
Exports -16% Bulk Handling -62%
Parts and Services -2% Storage +60%
Sales – R$ Thousand
1H13
402,137
49,464
13,702 47,770
291,202
+213,473 (+53%)
1H14
615,611
45,095 15,687
54,894
499,934
Exports +15% Bulk Handling -9%
Parts and Services +14% Storage +72%
3
11,794 (30%)
+9,175 (+65%)
1H14
39,498
1H13
27,704
2Q14
23,198
2Q13
14,023
PRODUCTION –TONS. OUTPUT –TONS.
NET REVENUE – R$ Thousand
+213,092 (+105%)
JUN/14
416,609
JUN/13
203,517
BACK LOG – R$ Thousand
10,724 (24%)
+7,405 (+41%)
1H14
45,122
1H13
34,398
2Q14
25,394
2Q13
17,989
151,653 (38%)
+97,904 (+76%)
1H14
399,953
1H13
248,300
2Q14
226,683
2Q13
128,779
4
GROSS PROFIT (R$ Thousand)
GROSS MARGIN (%)
CONTRIBUTION MARGIN
Net Revenue (-) Variable Costs
+42,823 (+75%)
+26,023 (+86%)
1H14
99,665
25%
1H13
56,842
23%
2Q14
56,362
25%
2Q13
30,339
24%
YTD14
39%
YTD13
39%
2Q14
39%
2Q13
39%
5
Gross profit increase boosted by gains in operational efficiency
+43,216 (+119%)
+23,871 (+115%)
1H14
79,441
20%
1H13
36,225
15%
2Q14
44,669
20%
2Q13
20,798
16%
EBITDA (R$ Thousand)
EBITDA MARGIN (%)
EBITDA
6
Net Profit (BRL thousand) 2Q14 2Q13 Δ% 1H14 1H13 Δ%
Profit of the Period 25,067 8,699 +188.2% 48,841 17,299 +182.3%
(+) Income Tax and Social Contribution Provision - Current and Deferred13,711 5,210 +163.2% 20,307 7,287 +178.7%
(-) Financial Revenue (4,789) (4,101) +16.8% (12,243) (6,969) +75.7%
(+) Financial Expenses 6,573 6,242 +5.3% 14,380 10,843 +32.6%
(+) Depreciation and Amortization 4,107 4,748 -13.5% 8,156 7,765 +5.0%
EBITDA 44,669 20,798 +114.8% 79,441 36,225 +119.3%
-25,754
2013
-23,561 (+1,074%)
2Q14
-2,193
25,754
2T14 Cash
-13,959
Long Term
-10,780
Short Term
1,178
2013
2,193
INDEBTEDNESS
7
Indebtedness (R$ thousands) 2Q14 2013 Var (%)
EXIM Pre-shipment 12,526 8,429 +48.6%
FINAME PSI 1,281 1,019 +25.7%
FINIMP 7,690 885 +768.9%
FINEP 3,509 3,509 -
Debentures 7,440 17,426 -57.3%
Short Term 32,446 31,268 3.8%
EXIM Pre-shipment 10,438 16,859 -38.1%
FINAME PSI 8,315 8,424 -1.3%
FINEP 16,959 18,715 -9.4%
Debentures 38,046 40,540 -6.2%
Long Term 73,758 84,538 -12.8%
Total Indebtedness 106,204 115,806 -8.3%
Cash & cash equivalents (Current and Non-current) (131,958) (117,999) +11.8%
Net Indebtedness (25,754) (2,193) +1074.4%
8
+16,368 (+188%)
+31,542 (+182.3%)
25,067
2T14 1S14
48,841
12%
1S13
17,299
7% 11%
2T13
8,699
7%
NET PROFIT IN THE PERIOD (R$ Thousand)
% OF NET INCOME
Investments in production and portfolio diversification more than
doubled the company’s net profit
9
Banco Clássico
Sul America Expertise FIA
4,92%
Banco do Brasil Investimentos 17,54%
9,99% Fernando Francisco Brochado Heller
12,11%
Previ
17,56%
37,88%
Other Minority
Ownership Breakdown
06/30/2014
Olivier Michel Colas Felipe Fontes
Vice-President Executive Officer IR Analyst
THANK YOU !
Tel.: +55 (11) 4873-0302
E-mail: [email protected]
Website: www.kepler.com.br/ri
Investor Relations