Saraiva Increases Revenues by 8% in 9M13 with Growth in Same Stores, New
Stores and Online
SAO PAULO, Nov. 13, 2013
SAO PAULO, Nov. 13, 2013 /PRNewswire/ -- Saraiva S.A.(Bovespa:SLED3 and
SLED4), one of the major publishers in Brazil and one of the largest content
retailers in culture and education, with stand-out performance in Brazil´s
e-commerce segment, reported today financial results for the third quarter and
9 month period ended September 30, 2013.
OPERATIONAL HIGHLIGHTS– 9M13
oHiring of Michel Jacques Levy as CEO of the Saraiva Group.
oCreation of the Investor Relations Area and hiring of Luciana Doria
oSigning of the contract with the Federal Government under the National
Textbooks Program for the 2014 academic year (PNLD/2014), in the amount of
R$173.0 million, with the digital material particularly well received,
totaling R$16 million. This result represents an increase of 32% in the
annual comparison and growth of 24% versus the comparable program,
PNLD/2011, due to the three-year cycle in the government's purchases of
textbooks. It is worth noting the seasonality in the Publishing business,
with particularly high concentrations in the first and fourth quarters.
oThe Retail business opened an additional 6 stores in 2103, with 2 in 3Q13,
including the first airport store. The retail business ended 9M13 with
total sales area of 60,665 m^2, 11% more than 9M12.
oSaraiva is in the process of installing its first logistics center in the
city of Cajamar
oThe Company promoted the restructuring of the Publishing Business, as part
of the growth strategy for the publishing business.
oSaraiva received the "EpocaReclameAquiAward – The Best Consumer Companies
of 2013" in the category Electronic Commerce, and recognition as a
super-champion company in the general ranking, which considers the best
companies in 62 categories.
oSaraiva registered as an establishment able to accept the Culture-Voucher
as a form of payment. The Culture-Voucher is a newly created federal
program to encourage spending in the areas of culture, leisure and
EARNINGS HIGHLIGHTS– 9M13
oConsolidated net revenues reached R$1.4 billion, an increase of 8% in the
oNet revenue in the Retail business reached R$1.2 billion, an increase of
12% in the yearly comparison, due to increased sales volume in the retail
division, driven by both an increase in the number of stores and solid
sales performance in the e-Commerce business.Same-store sales presented
growth of 5.4% compared to the same period last year.
oNet revenue in the Publishing business totaled R$ 244 million, down 12% in
the yearly comparison, given the delay, on the part of the Federal
Government, in contracting the PNLD for 2014. The Publisher's sales to the
private market grew by 3% in the yearly comparison, and the company
expects to register sales volume in 2013 that is higher than 2012, due to
strong performance obtained in the PNLD 2014, which will be billed in
oSaraiva's e-commerce revenues again registered an increase, achieving
14.4% growth in sales y-o-y.
oConsolidated gross profit reached R$595 million in 9M13, 3% higher than
9M12, reflecting less contribution from the Publishing business unit.
Gross margin decreased by 1.8 basis points, to 42.3% from 44.1% in 9M12,
reflecting less contribution from the Publishing business unit.
oConsolidated EBITDA was R$66 million in 9M13, compared to R$105 million in
9M12. The decrease is due to:(I) non-comparability of the PNLD 2013
(billed in 3Q12 and 4Q12) with 2014 (to be billed in 4Q13), and (ii)
non-recurring expenses of approximately R$ 10.1 million related to the
organizational restructuring, prepayment of expenses, operational advisory
and M&A transactions.
Click here to access the Earnings Release
Saraiva is a leading publisher and distributor of content and services related
to education, culture and entertainment, and as such plays an important role
in many aspects of its customers' lives. The Company operates its retail
business through a multichannel concept, offering a wide range of products and
services. Saraiva operates its online business through Saraiva.com, which is
fully integrated with its chain of storefronts, to ensure a nationwide
footprint. The Company publishes and distributes primarily educational content
in print and digital formats and through its Learning Systems, covering from
pre-school to university, and also publishes technical and professional
Luciana Doria Wilson
Phone: +55 (11) 3613-3263
Phone: +55 (11) 3933-2476
SOURCE Saraiva S.A.
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