Springs Global Participações S.A. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 11, 2020
Share
Springs Global Participações S.A. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was BRL 439.794 million compared to BRL 380.431 million a year ago. Operating income was BRL 20.010 million compared to BRL 28.643 million a year ago. Net loss was BRL 34.630 million compared to BRL 64.116 million a year ago. For the nine months, sales was BRL 1,005.503 million compared to BRL 1,049.319 million a year ago. Operating loss was BRL 53.750 million compared to operating Income of BRL 48.802 million a year ago. Net loss was BRL 302.606 million compared to net income of BRL 69.416 million a year ago.
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. 
