Springs Global Participações S.A. announced earnings results for the third quarter and nine months of 2017. For the quarter, net revenues were BRL 568.8 million against BRL 616.6 million a year ago, negatively impacted by lower sales volume and lower average price in Brazilian Reais from the Utility Bedding product line. Income from operations was BRL 51.6 million against BRL 57.0 million a year ago. Profit before taxes was BRL 13.8 million against loss before taxes of BRL 0.1 million a year ago. Net income was BRL 15.6 million against net loss of BRL 1.0 million a year ago. Net cash provided by operating activities was BRL 26.7 million against BRL 19.0 million a year ago. Property, plant and equipment were BRL 17.0 million against BRL 2.5 million a year ago. Cash generation, as measured by EBITDA, reached BRL 70.0 million, 8.4% lower year on year. Capex was BRL 17.0 million against BRL 2.5 million a year ago.

For the nine months, net revenues were BRL 1,625.4 million against BRL 1,737.5 million a year ago. Income from operations was BRL 129.6 million against BRL 142.4 million a year ago. Loss before taxes was BRL 7.5 million against BRL 35.3 million a year ago. Net income was BRL 6.7 million against net loss of BRL 32.0 million a year ago. Net cash provided by operating activities was BRL 120.9 million against BRL 42.3 million a year ago. Property, plant and equipment were BRL 35.1 million against BRL 50.6 million a year ago. EBITDA was BRL 184.8 million against BRL 200.7 million a year ago. Net debt was BRL 870.7 million against BRL 845.1 million a year ago.

The company provided earnings guidance for the year 2017. For the year, the company expects total net revenue of BRL 2,360 million to BRL 2,730 million, EBIT of BRL 200 million to BRL 240 million, EBITDA of BRL 280 million to BRL 320 million and capex of BRL 35 million to BRL 45 million.