Springs Global Participações S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for the Year 2019
April 04, 2019
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Springs Global Participações S.A. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net revenues of BRL 353.7 million compared to BRL 366.8 million a year ago. Income from operations was BRL 192.7 million compared to BRL 35.4 million a year ago. Net income was BRL 123.6 million compared to BRL 14.9 million a year ago.
For the year, the company reported net revenues of BRL 1,370.8 million compared to BRL 1,414.2 million a year ago. Income from operations was BRL 261.4 million compared to BRL 111.3 million a year ago. Net income was BRL 111.6 million compared to BRL 21.6 million a year ago.
The company provided earnings guidance for the year 2019. For the year, the company expects total net revenue of BRL 1,500 million to BRL 1,700 million, EBIT of BRL 140 million to BRL 170 million.
Springs Global Participacoes SA is a Brazil-based company engaged in the textile industry. The Company focuses on spinning, weaving, finishing and manufacturing of home textile products, mainly bed and bath textile articles, such as tablecloths, bed sheets, pillowcases, mattress pads, blankets, towels, shower curtains and bath accessories. The Company offers its products under various brand names, including MMartan, Casas Moyses, Artex, Santista, Springmaid, Fantasia, Arco Iris and Wabasso, among others. The Company operates production facilities in Brazil, Argentina and the United States, as well as distributes products in the United States, Canada, Brazil and Argentina. It controls a numed of subsidiaries, such as Springs Global US Inc, Coteminas SA, Ammo Varejo Ltda and American Sportswear Ltda. It is owned by Companhia de Tecidos Norte de Minas COTEMINAS.
Springs Global Participações S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for the Year 2019
SPRINGS GLOBAL PARTICIPAÇÕES S.A. 
