9M16 Results October, 2016static.grendene.aatb.com.br/apresentacoes/1203_2016... · EBIT margin -...

9M16 Results October, 2016

Disclaimer

This presentation contains statements that can represent expectations about future events or results. These statements are based on certain suppositions and analyses made by the company in accordance with its experience, with the economic environment and market conditions, and expected future developments, many of which are beyond the company’s control. Important factors could lead to significant differences between real results and the statements on expectations about future events or results, including the company’s business strategy, Brazilian and international economic conditions, technology, financial strategy, developments in the footwear industry, conditions of the financial market, and uncertainty on the company’s future results from operations, plans, objectives, expectations and intentions – among other factors. In view of these aspects, the company’s results could differ significantly from those indicated or implicit in any statements of expectations about future events or results.

Agenda

Mission, Vision & Values

Dividends

Results

History

Capital Markets

Plants

Brands and Marketing

Capital expenditure (CAPEX)

Guidance

Footwear Sector

Innovation Agility Competitiviness

Profitability

Ethics

Mission

Vision

s To create democratic fashion, responding rapidly to the market’s needs, generating an attractive return for the company and its partners.

Being among the most profitable companies in the world and the leading organizations in the sector.

0% 10% 20% 30%

Puma SE

Kingmaker Footwear …

Daphne International …

Rocky Brands Inc

Skechers USA Inc

Yue Yuen Industrial Holdings

Adidas

Stella International

Weyco Group Inc

Foot Locker Inc

Alpargatas

Usaflex

Le Saunda Holdings

Deckers Outdoor Corp

Calçados Jacob (Kildare)

Beira Rio

A. Grings S.A. (Piccadilly)

VF Corp (Timberland)

Arezzo

Steve Madden Ltd

Belle International Holdings

Grendene

EBIT margin - 2013

0% 10% 20% 30%

Puma SE

Rocky Brands Inc

Adidas

Skechers USA Inc

Alpargatas

Weyco Group Inc

Foot Locker Inc

Beira Rio

Steve Madden Ltd

Usaflex

Le Saunda Holdings

Arezzo

Grendene

Grendene (*)

EBIT margin - 2014

(6.0%)

(4.5%)

(10%) 0% 10% 20% 30%

Puma SE

Rocky Brands Inc

Yue Yuen Industrial …

Adidas

Alpargatas

Weyco Group Inc

Skechers USA Inc

Foot Locker Inc

Beira Rio

Usaflex

Steve Madden Ltd

Arezzo

Le Saunda Holdings

Grendene

Grendene (*)

EBIT margin - 2015

Profitability – EBIT margin (*) adjusted figures excluding the non-recurring effect – A3NP

(4.5%)

(10%) 0% 10% 20% 30%

Puma SE

Rocky Brands Inc

Adidas

Yue Yuen Industrial …

Usaflex

Weyco Group Inc

Alpargatas

Foot Locker Inc

Skechers USA Inc

Steve Madden Ltd

Arezzo

Le Saunda Holdings

Beira Rio

Grendene

Grendene (*)

Net margin - 2015

0% 10% 20% 30%

Puma SE

Skechers USA Inc

Rocky Brands Inc

Adidas

Weyco Group Inc

Usaflex

Foot Locker Inc

Alpargatas

Steve Madden Ltd

Le Saunda Holdings

Beira Rio

Arezzo

Grendene

Net margin - 2013

0% 10% 20% 30%

Puma SE

Adidas

Rocky Brands Inc

Skechers USA Inc

Weyco Group Inc

Foot Locker Inc

Alpargatas

Usaflex

Steve Madden Ltd

Arezzo

Beira Rio

Le Saunda Holdings

Grendene

Grendene (*)

Net margin - 2014

Profitability – Net margin

(*) adjusted figures excluding the non-recurring effect – A3NP

7 Source: Grendene / Bloomberg

333,4 317,5

334.6 352.5 344.5

92,8 113.7

128.2 148.5 148.1 141.3 152,2

208,4 187,3

399,2 399,9

2009 2010 2011 2012 2013 2014 * 2015 *

Alpargatas

Arezzo

Grendene *

16.2% 16.7%

14.9% 15.4% 10.5%

13.0% 12.6%

14.9% 12.3%

11.1% 10.3%

EBIT and EBIT margin – Main companies in Brazil

8 Souce: Grendene / Bloomberg

280.0 310.0

280.2 272.3

48.7 64.5 91.6 96.9 110.6 112.8 119.7

429.0 433.5

2009 2010 2011 2012 2013 2014 * 2015 *

Alpargatas

Arezzo

Grendene *

11.8% 11.3% 13.5% 11.3% 11.5%

18.7% 19.5%

22.8% 19.8%

9.3% 9.0%

Net profit and Net margin – Main companies in Brazil

Year (all amounts in thousand of

reais) Openning equity1 Profit Earnings Reinvestment Return on equity Closing equity1

2004 692,726 204,865 64,152 140,713 29.6% 733,566

2005 733.566 200,116 81,181 118,935 27.3% 847,373

2006 847,373 257,343 128,261 129,082 30.4% 998,510

2007 998,510 260,508 119,724 140,784 26.1% 1,132,718

2008 1,132,718 239,367 109,000 130,367 21.1% 1,274,080

2009 1,274,080 272,211 110,000 162,211 21.4% 1,430,569

2010 1,430,569 312,399 121,738 190,661 21.8% 1,624,542

2011 1,624,542 305,446 219,526 85,920 18.8% 1,713,743

2012 1,713,743 429.003 293,503 135,500 25.0% 1,848,309

2013 1,848,309 433,540 300,057 133,483 23.5% 1,957,295

2014 1,957,295 490,244 220,814 269,430 25.0% 2,232,649

2015 2,232,649 551,223 275,925 275,298 24.7% 2,520,866

Accumulated 3,956,265 2,043,881 1,912,384 971.5%

1) Equity adjusted by the exclusion of the balance of dividends payable.

Shareholder´s equity (R$) and return on equity (%)

Grendene´s history

Grendene´s Foundation

Melissa Brand

Own mold manufacturing plant

Rider Brand

Factories in Ceará State

Grendha Brand

Grendene´s history

2000’

Grendene started having common shares (“GRND3”) negotiated at the

BM&FBOVESPA

Galeria Melissa São Paulo

Brands Ipanema, Zaxy and Cartago

2010’

Galeria Melissa NY

Galeria Melissa London

Casa Ipanema – Rio de Janeiro

Clube Melissa – Franchise stores in Brazil

0.363 0.366 0.405

0.976 0.998

46.6% 41.3% 39.9%

74.8% 71.1% 71.8%

46.1% 48.6% 47.4%

7.0% 5.9% 4.7% 8.5% 8.4%

5.0% 4.8% 5.2% 4.4% 5.3%

2008 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

Dividend + Net interest on Equity, per share Payout (*) Dividend yield (**)

(*) Payout: Dividend + Net Interest on Equity divided by profit after the allocations to legal reserves. (**) Dividend yield: Dividend per share + Net Interest on Equity per share in the period divided by the weighted average price of the share,

annualized.

Dividend Policy

The Company´s dividend policy is

distribute, as dividends – after

constitution of the Legal Reserve, and the Reserve under the Bylaws – that part of Profit that

does not arise from state tax

incentives.

Allocation of proceeds distributed / proposed

# Proceeds * Approval

Date Ex-proceeds

date Payment start

date Gross amount R$

Income tax on I.E. (15%) (**) R$

Net amount R$

1 I.E. 04/28/16 05/04/16 05/18/16 30,000,000.00 (4,500,000.00) 25,500,000.00

1 Dividend 04/28/16 05/04/16 05/18/16 51,190,824.65 0.00 51,190,824.65

2 Dividend 07/28/16 08/03/16 08/17/16 45,505,162.63 0.00 45,505,162.63

3 Dividend 10/20/16 10/28/16 11/16/16 76,093,053.01 0.00 76,093,053.01

Sum 202,789,040.29 (4,500,000.00) 198,289,040.29

Allocation of net profit (9M16) R$

Net profit for the period 387,535,329.59

( - ) Tax incentives reserve (174,073,181.92)

Basis of the Legal reserve 213,462,147.67

( - ) Legal reserve (10,673,107.38)

Dividends for 9M16 202,789,040.29

Dividends and Interest on Equity (I.E.)

( *) Proceeds approved “ad referendum” of the Ordinary General Meeting that considers the financial statements for the 2016 business year.

(**) There will be no withholding income tax for people who prove their condition of immune or relieved retention by law.

182.7 184.6 151.1 162.3 137.2 133.2 115.4

235.0 220.2 181.7 389.5

427.3 361.4 397.8

250.1 245.1 217.2

579.6 516.4

597.2 661.1

Evolution GRND3 vs. BOVESPA index – Dec. 31, 2008 up to Sep. 30, 2016

BOVESPA index GRND3 - No dividend reinvested GRND3 - With dividend reinvested

P/E – Share price divided by earnings per share in a 12 month period.

Last 52 weeks Date Share price Market capitalization Market capitalization – free-float

Minimum Jan. 21, 2016 R$ 14.60 R$ 4.4 billion R$ 1.2 billion

Maximum Oct. 09, 2015 R$ 18.70 R$ 5.6 billion R$ 1.5 billion

Price/Earnings (P/E): 12/31/08 – 5.32 12/31/09 – 10.99 12/31/10 – 8.97 12/31/11 – 7.57 12/31/12 – 11.56 12/31/13 – 12.55 12/31/14 – 9.39 12/31/15 – 9.20

Capital markets

Location of Industrial plants

Production capacity: 250,000,000 pairs / year

Sobral / CE Crato / CE Fortaleza / CE Teixeira de Freitas/BA Farroupilha / RS

Employees: Northeast region: 18,400

South region: 2,000

Sobral

Fortaleza

Teixeira de

Freitas

Farroupilha

Built area= 315.000 m2

Braz i l

35.4 33.0 39.4

73.2 70.2

160.0 2

Modernization of the plant and better

efficiency of production

Footwear Sector

45% 19%

7% 3% 1%

Footwear Consumption by region (pairs 2014)

Europe

North and Central America

South America

Africa

Middle East

Oceania

4% 1% 0%

Footwear production by region (pairs 2014)

16.9 16.6 17.6 18.4 18.8 19.9 20.1 20.8

14.7 14.9 15.6 16.2 16.5 17.5 17.8 18.4

2008 2009 2010 2011 2012 2013 2014 2015 *

Evolution of worldwide procuction and consuption of footwear

(in billions pairs)

Production Consumption

Source: IEMI / WSR / Estimated by ABICALÇADOS

In the world ranking (2014) Brazil ranks as the 3rd largest producer and 4th in consumption.

Europe

North and Central America

South America

Africa

Middle East

Oceania

Footwear Sector - World

Footwear sector - Brazil

• World’s 3rd largest producer;

• About 7,700 producers;

• Exports: 124 million pairs to more than 150 countries;

• Production: 944 million pairs in 2015;

• 283,100 direct employees;

• Apparent consumption, Brazilian domestic market: 853 million pairs – 4.0 pairs per capita / year in 2015.

The footwear sector in Brazil is characterized by small companies and

labor-intensive, with no barriers to entry or exit.

Million pairs 2008 2009 2010 2011 2012 2013 2014 2015

Production 790 769 835 838 997 1.036 998 944

Imports 39 30 29 34 36 39 37 33

Exports 166 127 143 113 113 123 130 124

Apparent consumption 663 672 721 759 920 952 905 853

Per capita consumption (pairs) 3.5 3.5 3.7 3.8 4.6 4.7 4.5 4.2

Source: IBGE / SECEX / ABICALÇADOS

Note: We are presenting the production, apparent consumption and per capita consumption numbers for the years 2008 - 2014, due to updates and revisions of information sources.

Footwear Sector - Brazil

790 769 835 838

997 1,036

998 944

Brazilian production CAGR (2015/2008): 2.6%

Change (2015/2014): (5.4%)

166 169

216 205

125 113

Grendene CAGR (2015/2008): 3.0%

Change (2015/2014): (12.0%) Change (9M16/9M15): (9.9%)

Grendene has grown above the average growth rate of the footwear

industry in Brazil.

Brazilian Footwear sector x Grendene

113 113 123

130 124

Brazilian exports CAGR (2015/2008): (4.1%)

Change (2015/2014): (4.2%) Change (9M16/9M15): 0.5%

Grendene CAGR (2015/2008): (0.6%)

Change (2015/2014): (12.0%) Change (9M16/9M15): (7.8%)

Grendene accounts for 33.1% of Brazilian footwear exported in

9M16 (36.0% in 9M15).

Exports:Brazil vs. Grendene

Brands & Marketing

Products that meet essential and basic needs at low cost.

Products for all the income levels: A, B, C, D and E – with

very good cost vs. benefit.

Marketing

Galeria Melissa Londres

Galeria Melissa New York

Showroom Milão

Clube Melissa

Galeria Melissa São Paulo

Marketing

Sales channels

Strong relationship with trade

Results (in IFRS)

Receita bruta Consolidada

Domestic market: R$ 519.5 million (6.7%)

Exports: R$ 134.5 million (24.2%)

Lucro líquido Consolidado

R$ 150.9 million 10.7%

EBIT R$ 107.5 million (16.9%)

Margin 20.0% (1.0 p.p.)

Câmbio Negative impact: R$ 12.5 million

Volume Domestic market: 34.3 million pairs (6.8%)

Exports: 10.2 million pairs 1.1%

Preço médio

Domestic market R$ 15.13 0.2%

Exports R$ 13.15 (25.1%)

US$ 4.05 (18.2%)

Exchange

Average price

Net profit

Volumes

Gross revenue

Highlights 3Q16 (YoY 2015)

Receita bruta Consolidada

Domestic market: R$ 1,295.1 million (5.4%)

Exports: R$ 424.7 million (8.7%)

Lucro líquido Consolidado

R$ 387.5 million 6.8%

EBIT R$ 244.4 million (13.8%)

Margin 17.2% (1.4 p.p.)

Câmbio Positive impact: R$ 47.1 million

Volume Domestic market: 84.3 million pairs (10.6%)

Exports: 28.8 million pairs (7.8%)

Preço médio

Domestic market R$ 15.36 5.9%

Exports R$ 14.77 (1.0%)

US$ 4.15 (12.1%)

Exchange

Average price

Net profit

Volumes

Gross revenue

Highlights 9M16 (YoY 2015)

R$ Millions 2008 2009 2010 2011 2012 2013 2014* 2015* Change %

15-14 CAGR

(15-08) 9M15* 9M16

Change 9M16/ 9M15

Gross revenue 1,576.0 1,819.4 1,998.6 1,831.6 2,324.5 2,711.4 2,719.4 2,630.0 (3.3%) 7.6% 1,833.7 1,719.8 (6.2%)

Domestic market 1,220.5 1,464.4 1,603.8 1,489.9 1,845.4 2,146.9 2,077.7 1,899.2 (8.6%) 6.5% 1,368.6 1,295.1 (5.4%)

Exports 355.5 355.0 394.8 341.7 479.1 564.5 641.7 730.8 13.9% 10.8% 465.1 424.7 (8.7%)

Net revenue 1,249.9 1,455.8 1,604.5 1,481.1 1,882.3 2,187.3 2,232.4 2,201.1 (1.4%) 8.4% 1,526.2 1,419.2 (7.0%)

Cost of sales (731.2) (889.7) (953.3) (840.5) (1,000.2) (1,193.6) (1,206.8) (1,135.1) (5.9%) 6.5% (810.1) (747.0) (7.8%)

Gross profit 518.7 566.0 651.2 640.6 882.1 993.7 1,025.6 1,066.0 3.9% 10.8% 716.1 672.1 (6.1%)

EBIT 165.9 152.2 208.4 187.3 362.8 398.9 399.9 454.7 13.7% 15.5% 283.6 244.4 (13.8%)

EBITDA 191.5 178.5 236.6 216.2 394.5 435.5 447.3 507.0 13.3% 14.9% 323.7 287.6 (11.1%)

Net income 239.4 272.2 312.4 305.4 429.0 433.2 493.7 603.0 22.1% 14.1% 362.7 387.5 6.8%

Margins % 2008 2009 2010 2011 2012 2013 2014* 2015* Change 15-14 (p.p.)

Change 15-08 (p.p.)

9M15* 9M16

Change 9M16/ 9M15 (p.p.)

Gross 41.5% 38.9% 40.6% 43.3% 46.9% 45.4% 45.9% 48.4% 2.5 6.9 46.9% 47.4% 0.5

EBIT 13.3% 10.5% 13.0% 12.6% 19.3% 18.2% 17.9% 20.7% 2.8 7.4 18.6% 17.2% (1.4)

EBITDA 15.3% 12.3% 14.7% 14.6% 21.0% 19.9% 20.0% 23.0% 3.0 7.7 21.2% 20.3% (0.9)

Net 19.2% 18.7% 19.5% 20.6% 22.8% 19.8% 22.1% 27.4% 5.3 8.2 23.8% 27.3% 3.5

Main Indicators (*) adjusted figures excluding the non-recurring effect – A3NP / CAGR (7 years)

Gross sales revenue Domestic market

CAGR (15-08): 6.5% Change (15-14): (8.6%)

Change (9M16-9M15): (5.4%)

1,464 1,604

2,147 2,078 1,899

1,369 1,295 20

356 355 395

465 425

Gross sales revenue Exports

CAGR (15-08): 10.8% Change (15-14): 13.9%

Change (9M16-9M15): (8.7%)

1,576 1,819

1,999 1,832

2,711 2,719 2,630

1,834 1,720

Gross sales revenue Total

CAGR (15-08): 7.6% Change (15-14): (3.3%)

Change (9M16-9M15): (6.2%)

Note: CAGR 7 years

Gross sales revenue– R$ million (*) adjusted figures excluding the non-recurring effect – A3NP / CAGR (7 years)

77.4% 80.5% 80.2% 81.3% 79.4% 79.2% 76.4% 72.2% 74.6% 75.3%

22.6% 19.5% 19.8% 18.7% 20.6% 20.8% 23.6% 27.8% 25.4% 24.7%

2008 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

Gross sales revenue

Domestic Market Exports

67.3% 70.9% 67.8% 71.7% 75.5% 76.6% 74.5% 74.5% 75.2% 74.6%

32.7% 29.1% 32.2% 28.3% 24.5% 23.4% 25.5% 25.5% 24.8% 25.4%

2008 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

Sales volume

Domestic market Exports

Market %

166 152

208 187

363 399 400

284 244

10.5% 13.0% 12.6%

19.3% 18.2% 17.9%

20.7% 18.6%

EBIT / EBIT Margin CAGR (15-08): 15.5%

Change (15-14): 13.7% Change (9M16-9M15): (13.8%)

EBITDA / EBITDA margin CAGR (15-08): 14.9%

Change (15-14): 13.3% Change (9M16-9M15): (11.1%)

191 178

237 216

395 436 447

324 288

12.3% 14.7% 14.6%

21.0% 19.9% 20.0%

23.0% 21.2% 20.3%

Improvement of internal processes to generate value.

EBIT/EBITDA – R$ million (*) adjusted figures excluding the non-recurring effect – A3NP / CAGR (7 years)

Sales volume – Exports CAGR (15-08): (0.6%)

Change (15-14): (12.0%) Change (9M16-9M15): (7.8%)

146 166 169

216 205

125 113

Sales Volume - Total CAGR (15-08): 3.0%

Change (15-14): (12.0%) Change (9M16-9M15): (9.9%)

117 115 108

166 153

Sales volume – Domestic market

CAGR (15-08): 4.5% Change (15-14): (12.0%)

Change (9M16-9M15): (10.6%)

World presence: more than 100 countries

Production (millions pairs) CAGR (7 years)

Operating cash generation

2009 2010 2011 2012 2013 2014 2015 Change

R$ (15-14) Change %

(15-14) CAGR

(15-09) 09/30/15 (9M15)

09/30/16 (9M16)

Change % (9M16-9M15)

Profit for the year/period 272,211 312,399 305,446 429,003 433,540 490,244 551,223 60,979 12.4% 12.5% 348,142 387,129 11.2%

Depreciation 26,307 28,173 28,917 31,725 36,648 47,461 53,652 6,191 13.0% 12.6% 40,830 43,215 5.8%

Other (68,676) (87,399) (94,025) (71,934) (50,204) (78,417) (146,029) (67,612) 86.2% 13.4% (69,235) (128,368) 85.4%

Cash generation by changes in assets and liabilities (66,756) (6,243) (172,191) (196,158) (116,679) 25,671 (16,128) (41,799) (162.8%) (21.1%) 47,500 237,647 400.3%

Trade receivables (130,878) 34,930 (106,354) (189,938) (82,337) 2,387 54,355 51,968 2,177.1% 0.0% 152,100 231,413 52.1%

Inventories (6,452) (1,107) 4,378 (30,194) (33,139) (10,298) (49,121) (38,823) 377.0% 40.3% (85,369) (5,821) (93.2%)

Suppliers 22,036 (8,322) (4,676) 29,795 (17,014) (3,505) 8,616 12,121 (345.8%) (14.5%) 7,436 (12,238) (264.6%)

Change in other assets and liabilities 48,538 (31,744) (65,539) (5,821) 15,811 37,087 (29,978) (67,065) (180.8%) 0.0% (26,667) 24,293 (191.1%)

Net cash provided by operating activities 163,086 246,930 68,147 192,636 303,305 484,959 442,718 (42,241) (8.7%) 18.1% 367,237 539,633 46.9%

Solid capital structure and strong cash generation

Net cash provided by operating atictivities

800 794 1,031

916 874 734

(224) (141) (181) (111) (138) (118) (171) (213)

576 654 849 805 736

616 825

2008 2009 2010 2011 2012 2013 2014 2015 9M16

Cash and cash equivalents and financial investments (short- and long-term)

Borrowings (short- and long-term)

Net cash

Cash and cash equivalents and financial investments (short- and long-term), borrowings (short- and long-term)and net cash

Less labor intensive

More capital intensive

Higher entry barriers

Highly marketing intensive

Strategy: Break paradigms

Our expertise of more than 45 years producing

innovative footwear and generating desired brands,

shows the success of our vision of the market, our strategy and our business

model – and our capacity to create value for

stockholders.

Value proposition

Brands

Products Marketing Management

Constant creation of products

Innovative design

Manufacturing technology

Few products in large scale

Aggresive marketing

Segmentation

Investment in media / events

Strong relationship with trade

Scale gains, scope gains

Profitability

Continuous improvement

Financial solidity

Sustainable growth

Value for Stakeholders

Cartoons characters, celebrities and successful designers

Melissa

Brand: Melissa

Competitors:

Arezzo, Schultz, Grudy,

Flor de Mel, Cravo e Canela.

Vitorino Campos

Vivienne Westwood

Jason Wu Jeremy Scott

Brands: Grendha and

Licenses: Ivete Sangalo

Competitors:

Via Marte, Beira Rio, Ramarim,

Dakota, Picadilly, Via

Uno, Anacapri, Usaflex.

Brands: Rider and Cartago

Licenses: Guga

Küerten, Bad Boy, Mormaii

Competitors:

Kenner, Beira Rio, Alpargatas,

Itapuã, Free-Way.

Own brands: Grendene Kids and

Licenses:Ben 10, Hello Kitty, Disney,

Hot Wheels, Barbie, Angry

Birds entre outras

Competitors:

Klim, Bibi, Pampily, Bical,

Pé com Pé, Marisol

Mas Market

Brand: Ipanema

Competitors:

Alpargatas, Dupé, Balina,

Beira-Rio

Guidance 8% a.a.

Guidance 12% a.a.

1,576 1,819

2,711 2,719

2008 2009 2010 2011 2012 2013 2014 * 2015 * 2016 2017 2018

Gross sales revenue

Guidance 8% a.a. Guidance 12% a.a. Realizead

We expect in this period to have some years with higher growth than these rate, as happened in 2009 and other years with lower growth, but on average we intend to achieve these targets.

Guidance (*) adjusted figures excluding the non-recurring effect

Guidance 12% a.a.

Guidance 15% a.a.

239 272 312

433 494

2008 2009 2010 2011 2012 2013 2014 * 2015 * 2016 2017 2018

Net Income

Guidance 12% a.a. Guidance 15% a.a. Realized

Guidance (*) adjusted figures excluding the non-recurring effect

Targets for:

2008-2015 extended through 2018

Advertising expenses:

average 8% - 10% of net revenue in this period.

Gross revenue

growth at a compound

annual growth rate

(CAGR) between 8%

and 12%.

Profit growth at a

compound annual

growth rate (CAGR)

between 12% and 15%.

CAPEX – in 2016 we expect to invest between R$ 80 mn and R$ 90 mn.

Guidance - 2016

Thank you!

IR Team Francisco Schmitt

CFO & IRO (55 54) 2109.9022

Secretary Cátia Gastmann

(55 54) 2109.9011

Analysts Lenir Zatti / Alexandre Vizzotto

Further information Internet: http://ri.grendene.com.br

Email: dri@grendene.com.br

9M16 Results October, 2016static.grendene.aatb.com.br/apresentacoes/1203_2016... · EBIT margin -...

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Transcript of 9M16 Results October, 2016static.grendene.aatb.com.br/apresentacoes/1203_2016... · EBIT margin -...

RESULTS 3Q16 - London Stock Exchange · || Financial Results Summary Operating EBITDA Margin (%) 4 2.4pp % 3Q15 3Q16 2.2pp 9M16 % 9M15 % % EBITDA Margin increased in 3Q16 and 9M16

ANNUAL GENERAL MEETING 2012 - Bilfinger · 2012. 9. 19. · Financial year 2011 | EBIT and EBIT margin € million 180 . 341 . 361 . 2009. 2010. 2011. 4.2% . 4.3% 2.4% . Bilfinger

ACCIONA 9M16 results presentation

RESULTS 9M16 - Indra...4 Conference Call – Results 9M16 | 4MAIN HEADLINES Results 9M16 6 •Net Debt down by -5% vs December 2015 to €666M 4 •3Q16 Recurrent EBIT Margin 5.5%

9 Months 2015 Financial Results & Strategy Evolution · 1H 2016 1H 2015 Change Revenues 2,736 2,715 0.8% EBITDA 253 221 14.2% Ebitda margin 9.2% 8.2% EBIT 129 113 14.5% Ebit margin

Aqualis ASA 2018 Q1 results - AqualisBraemar...1q16 2q16 3q16 4q16 1q17 2q17 3q17 4q17 1q18 Adjusted EBIT (left axis) Adjusted EBIT margin (%) (1) Adjusted EBIT: Earnings before interest

Finning reports Q1 2017 results · EBIT of $42 million was up 9% from Adjusted EBIT in Q1 2016. EBIT margin of 8.4% was below Adjusted EBIT margin of 8.9% in Q1 2016, primarily due

Presentation Facts & Figures€¦ · Presentation ThyssenKrupp August 2015 9 4 out of 6 BAs With Improved EBIT Adj. YoY and QoQ EBIT adjusted (million €); EBIT adjusted margin (%)

SUSS MicroTec Company Presentation - EQS Group...Sales Q1 2019: €47.1 million EBIT Q1 2019: €2.1 million (4.5% EBIT-margin) STATUS UPDATE SUSS 2025 SUSS MicroTec Investor Presentation

Annual Report 2019...EBITDA margin (earnings before interest, tax, depreciation and amortization) 4,1 5,9 EBIT-Rendite (Betriebsgewinn vor Zinsen und Steuern) EBIT margin (earnings

Leifheit AGir.leifheit-group.com/download/companies/leifheit/...Segment result (EBIT) € m 9.1 6.9 31.9 EBIT margin % 9.5 7.6 1.9 pps Employees (average number) 786 757 3.8 ... Implementation

Mobile Cloud - Cisco · Mobile Data Traffic Evolution. EBITDA margin. Cash-flow margin. EBIT margin. SP Profitability versus Mobile Data Traffic Growth . Source: Cisco IBSG Analysis

AnalystpresentationH1 2017/18 Half yearended30 September ... · Gross margin Net Profit Dividend Regional performance EBIT Overall gross margin was up 190 bps to 62.2%, driven by

Q2 2016 Analyst Conference Presentation - Kuehne · 2016 Q2 2016 EBIT EBIT/Net turnover margin Contract Logistics – Performance of business unit In MCHF Kuehne + Nagel Group - Half-Year

BREEDON GROUP · 9 INVESTOR PRESENTATION • MAY 2020 2019 highlights Revenue £929.6m FY 2018: £862.7m £116.6m Underlying EBIT* FY 2018: £103.5m +8 % Underlying EBIT margin* 12.5%

Tenneco Inc. - news release · 2017. 2. 7. · Q4 2016 Q4 2015 Earnings Measures-2-EBIT and EBIT Margin Fourth quarter EBIT (earnings before interest, taxes and noncontrolling interests)

ANNUAL REPORT 2013 · ANNUAL REPORT 2013 Rosenbauer Group 2013 2012 2011 Revenues € million 737.9 645.1 541.6 EBIT € million 42.3 38.6 41.6 EBIT margin 5.7% 6.0% 7.7% EBT €

Annual Report 2019 - Schaeffler Group...EBIT before special items Revenue growth vs. prior year Revenue growth at constant currency EBIT margin EBIT margin before special items 1,676

Analyst Presentation 9M16 Results - cimbbank.com.kh · 11/16/2016 · Analyst Presentation 9M16 Results 16 November 2016. 2 Agenda 1. Key Highlights 2. CIMB Group 9M16 Financials

PowerPoint-presentasjon relations...Financial results 6 Operating revenues Adjusted EBIT & margin Reported EBIT & margin. 712,8. 752,6. 804,5. 762,5. 662,6. 0. 250. 500. 750. 1 000.