Ouro Verde Announces 1Q18 Results

Ouro Verde records EBITDA margin 69,3% and R$ 205.6 million Net Operating Revenue

Curitiba/PR, May 15, 2018 - Ouro Verde Locação e Serviço S.A., one of the largest companies in Brazil engaged in heavy equipment and light vehicle fleet outsourcing, announced its financial and operating results for the first quarter of 2018 (1Q18).

Highlights

  • In 1Q18, with the resumption of some positive indicators of the economic scenario, Ouro Verde presented a consistent result. Net Operating Revenue, including the sale of assets, totaling R$ 205.6 million. Net Operating Revenue was impacted by the 5.2% growth of Asset Sales Revenue, partially offset by a reduction of 11.0% of Net Services Revenue.
  • Consolidated Adjusted EBITDA from heavy machinery and equipment leasing and light vehicle outsourcing totaled R$ 106.1 million in 1Q18, and Adjusted EBITDA margin reached 69.3%.
  • Total fleet reached 24,443 units in 1Q18. The fleet breakdown in the period achieved 7,697 units of heavy machinery and equipment and 16,746 units of light vehicles.
  • Backlog revenue from contracts with our clients, which range from two to seven years, reach R$1,403.7 million in 1Q18.
  • At the end 1Q18, Ouro Verde cash and cash equivalents reached R$290.1 million and net debt totaled R$1,330.8 million, approximately 44.2% of which from FINAME and Leasing financing lines.
  • The Company‘s projection is to maintain its financial strength, seeking the increase in operating profitability and new investment even more selective, thereby reducing its levels of financial leverage. This caution can already be seen in the leverage (net debt/ Adjusted EBITDA trailing 12 months) to 3,04x in 1Q18. Adding the revenue from the sale of assets, we achieved a leverage of 1.98x.
  • In the coming quarters, in order to improve the profile of our debt and support the development of our businesses face to a recession environment, Ouro Verde‘s strategy is to issue new debt operations through the local and international capital market, demonstrating focus on strengthening liquidity and lengthening debt profile.

Click here to access the Earnings Release in Portuguese.

IR Contact:

Phone.: +55 (41) 3094-7325
E-mail: ri@ouroverde.net.br
IR Website: www.ouroverde.net.br/ir

About Ouro Verde
Founded in 1973, Ouro Verde is one of the biggest Brazilian companies in the car and equipment rental and service segments, operating in fleet outsourcing through long-term agreements varying from two to seven years. With a nationwide presence, financial solidity and 40 years of operations, Ouro Verde values service quality and respect for its stakeholders.

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Curitiba - Paraná - Brazil - CEP 81350-000
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