With 5 acquisitions1 since the IPO, we reached gross revenue of

R$5.2 billion, EBITDA of R$782 million and net income of R$254 million

proforma during the 12 months ended in June 2021.

In 2Q21, net income was an all-time record of R$93.1 million, and EBITDA of R$ 211.7 million, we

reversed the result for the second quarters of 2020 and 2019.

OTHER QUARTER HIGHLIGHTS :

Announcement and approval by CADE of the acquisition of Transportes Marvel, with refrigerated, frozen and dry cargo in

Brazil and other five countries in South America.

Issue of CRAs: lengthening of debt by issuing CRAs - Certificates of Agribusiness Receivables in the amount of R$500 million. R$900 million of New Contracts signed, totaling R$2.5 billion in the first half of New Revenue with a term of up to 9 years.

1

Combined

JSL Financial Highlights

2

1

2Q21

2Q20

2Q19

▲ Y / Y

1Q21

▲ Q/Q

1H2021

1H2020

▲ Y / Y

Proforma

(R$ million)

2Q21 LTM

Gross Revenue

1.109,3

697,9

945,4

58,9%

1.049,4

5,7%

2.158,6

1.530,2

41,1%

5.183,9

Deductions

(186,9)

(116,3)

(164,3)

60,7%

(181,2)

3,1%

(367,6)

(254,8)

44,3%

Net Revenue

922,4

581,6

781,1

58,6%

868,1

6,3%

1.791,1

1.275,4

40,4%

4.337,0

Net Revenue from Services

902,5

550,2

739,2

64,0%

853,2

5,8%

1.755,7

1.206,5

45,5%

Net Revenue from Asset Sales

19,9

31,4

41,9

-36,6%

14,9

33,6%

35,4

68,9

-48,6%

Total Costs

(793,5)

(531,7)

(673,8)

49,2%

(738,0)

7,5%

(1.531,5)

(1.157,7)

32,3%

Cost of Services

(778,7)

(501,3)

(632,1)

55,3%

(724,4)

7,5%

(1.503,1)

(1.089,3)

38,0%

Cost of Asset Sales

(14,8)

(30,4)

(41,6)

-51,3%

(13,6)

8,8%

(28,4)

(68,4)

-58,5%

Gross Profit

128,8

49,9

107,3

158,1%

130,2

-1,1%

259,5

117,7

120,5%

Operational Expenses

26,6

(23,4)

(33,0)

-

(46,2)

-157,6%

(19,6)

(41,9)

-53,2%

EBIT

155,4

26,5

74,3

485,4%

84,0

85,0%

239,9

75,8

-

Margin (% NR from Services)

17,2%

4,8%

10,1%

+12,4 p.p.

9,8%

+7,4 p.p.

13,7%

6,3%

+7,4 p.p.

Financial Result

(27,5)

(53,3)

(81,6)

-48,4%

(32,1)

-14,3%

(59,6)

(97,6)

-38,9%

Taxes

(34,8)

10,4

5,2

-

(9,8)

-

(44,6)

14,8

-

EBITDA

211,7

82,2

131,4

157,5%

127,8

65,6%

340,0

192,4

76,7%

781,9

Margin (% NR from Services)

23,5%

14,9%

17,8%

+8,6 p.p.

15,0%

+8,5 p.p.

19,4%

16,0%

+3,4 p.p.

18,0%

EBITDA-A

226,5

112,6

173,1

101,2%

141,4

60,2%

368,4

260,9

41,2%

Margin (% NR from Services)

25,1%

20,5%

23,4%

+4,6 p.p.

16,6%

+8,5 p.p.

21,0%

21,6%

-0,6 p.p.

Net Income (Loss)

93,1

(16,3)

(2,1)

42,1

121,1%

135,7

(6,9)

-

254,0

Margem (% ROL)

10,1%

-2,8%

-0,3%

4,8%

+5,3 p.p.

7,6%

-0,5%

5,9%

3

44,8

(16,3)

(2,1)

47,7

-6,1%

92,5

(6,9)

Adjusted Net Income (Loss)

Margin (% NR)

4,9%

-2,8%

-0,3%

5,5%

-0,6 p.p.

5,2%

-0,5%

Note 1: Combined financial information considers the integral figures of the 12 months ended June2021 of the five acquired companies, unaudited and consolidated figures.

Note 2: JSL consolidated financial information considers the acquired companies figures always since their respective acquisition dates as described in this document, so does not include Marvel figures.

Note 3: Adjusted Net Income (Loss) considers the exclusion of non-recurring items, as described in the document.

2

MESSAGE FROM MANAGEMENT

The second quarter of 2021 confirms our strategy of growth with profitability. We added R$1.7 billion in 2Q21 LTM figures, considering the acquisition of Transportes Marvel and the other four acquisitions made since our IPO in September 2020. The gross margin also proved its resilience, returning to the 2019 levels, even without capturing the full synergy benefit of the acquisitions made, and was driven by higher input costs long unseen in the Brazilian market - a result of our focus on cost management and operational efficiency.

Thanks to the 5 acquisitions made, we entered the healthcare and compressed gas sectors, scaled up our urban distribution and warehousing services and increased our presence mainly in the South and Northeast regions of Brazil, as well as in other five South American countries. The acquisitions also represent addition of products and services to our portfolio, in addition to clients with a great synergy potential. This move is part of our strategic planning to seek value-addedservices, better margins, national and international geographic expansion and business with differentiated people to support this new growth cycle. We believe JSL still has a lot of room to grow organically and through acquisitions, and we have built a strong platform that will be able to absorb the accelerated consolidation process of the sector in Brazil.

As part of our debt management, we issued R$ 500 million in CRAs - Certificates of Agribusiness Receivables of R$500 million, maturing in 10 years, thus extending the average term of net debt for 4.9 years, compared to 3.8 years before the issue. At the close of the quarter, the net debt was R$1.93 billion, with a cost of net debt by the end of the period, of 3.3% p.y., after taxes, leading to a Net Debt/EBITDA ratio of 2.7x and Net Debt/EBITDA Added ratio of 2.3x. In 2Q21, net CAPEX came to R$93.8 million, 50.3% of which linked to the expansion of Quarterly free cash flow, which remained resilient, at R$12.3 million. We have the required fundamentals to move forward with the acquisitions within the leverage level considered adequate by Management.

In 2Q21, we reached the best results ever, among them our Net Income was R$93.1 million, our EBITDA was R$211.7 million (up 157.5% over 2Q20) and our Total Net Revenue was R$922.4 million (up 58.6% over 2Q20), still without fully capturing the figures and synergies of Transportadora Rodomeu and TPC, which are consolidated as of the closing dates of May 15, 2021 and June 15, 2021, respectively.

Under the direction of Ramon Alcaraz, the CEO, we have focused on operational efficiency, the review of our cost structure and technological development. We continue with our strategy to support the development of the acquired companies, maintaining the JSL culture, which is backed by core values like people, clients, work, simplicity and profitability - the basis for sustainable growth.

We thank our almost 25,000 direct employees, 55,000 third-party and independent contractor truck drivers, and our clients and investors for the trust they placed in us! We are confident that there's much more to come.

Thank you!

Fernando Antonio Simões - Chair of the Board of Directors

Ramon Peres Martinez Garcia de Alcaraz - CEO

3

CORPORATE PROFILE

We have been the largest road logistics company in Brazil for 21 years. With 65 years of history, we have the largest and most integrated logistics services portfolio in Brazil, offering customized services with long-term contracts and unique operating base capillarity for over 16 economic sectors.

Exhibit III describes our business model.

4

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JSL SA published this content on 09 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 03:14:03 UTC.