March 05, 2015 6:25 PM ET

Hotels, Restaurants and Leisure

Company Overview of CVC Brasil Operadora e Agência de Viagens S.A.

Company Overview

CVC Brasil Operadora e Agência de Viagens S.A., through its subsidiary, CVC Serviços Agência de Viagens Ltda., provides tourism products and services in Brazil and internationally. It provides tour packages, air tickets, ground transportation, hotel reservations, cruise line tickets, and other tourism services. The company offers its tourism services directly to customers through independent service providers. As of December 31, 2014, it owned 34 stores and 880 branded stores. CVC Brasil Operadora e Agência de Viagens S.A. was founded in 2009 and is headquartered in Santo André, Brazil.

Rua das Figueiras

501 – Jardim

Santo André, SP 09080-370

Brazil

Founded in 2009

1,264 Employees

Key Executives for CVC Brasil Operadora e Agência de Viagens S.A.

CVC Brasil Operadora e Agência de Viagens S.A. does not have any Key Executives recorded.

CVC Brasil Operadora e Agência de Viagens S.A. Key Developments

CVC Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

CVC announced earnings results for the fourth quarter and year ended December 31, 2014. For the fourth quarter, the company’s net revenue of BRL 220 million in the fourth quarter of 2014, with growth of 20%, as compared to the same period 2013. The percentage of net revenues over consumed bookings was 15.4% in the fourth quarter in the year, with a decrease of 40 basis points compared to 2013. This slight reduction in the fourth quarter of 10 basis points is basically related to a higher percentage of international bookings, although the project mix has reached levels similar to 2013. As for the 40 basis points decrease in the whole of the year, this is also a result of a higher percentage of international bookings. The company EBITDA reached BRL 117 million in the fourth quarter, 26% above the fourth quarter 2013. The adjusted EBITDA, BRL 125 million, with growth of 26% compared to 2013. As a percentage of net income, EBITDA reached 56%-26.4%. The company showed strong growth in net income and adjusted net income in the fourth quarter and year of 2014. Since, the company has have better operational results and lower increase of operational expenses, net income reached BRL 59.6 million in the fourth quarter with growth of 49.4% compared to the previous year, and adjusted net income grew by 41.2% in the same period. Cash flow generated by operational activities grew from BRL 102.8 million in the fourth quarter 2013 to BRL 126.7 million in the fourth quarter 2014, a growth of 23.2%, especially due to the growth of net income and improved working capital reduced from 27 days to 24 days in the period. For the year, the company’s net revenue of BRL 714 million in the year of 2014, with growth of 11.4%, as compared to the same period 2013. EBITDA and adjusted EBITDA reached BRL 351 million and BRL 374 million in the year of 2014, with an increase of 21% and 13.7% compared to the same period 2013. As a percentage of net revenues, the adjusted EBITDA was 52.4%, 1% point above the previous year. As for margins, the company has an expansion both in EBITDA and adjusted EBITDA due to fixed cost leverage. The company showed strong growth in net income and adjusted net income in the fourth quarter and year of 2014. Adjusted net income and net income reached BRL 174.9 million and BRL 145.7 million, respectively. Growth of 30.5% and 15.6% compared to the same period of last year. In 2014, the cash flow generated by operations was almost BRL 250 million, 41% above that of the year of 2013. And this was basically used to reduce indebtedness, with payment of BRL 144 million of a debt with the founding shareholder and also with reduction in factorable receivables of almost BRL 51 million. Additionally, the company made payments of BRL 29 million in dividends, and the company also invested in IT infrastructure with BRL 26 million in CapEx for 2014. The company’s net debt with a drop of approximately BRL 200 million in its debt in 2014. The balance of the company’s debt on December 31, 2014, was BRL 52.9 million and BRL 199.5 million in the fourth quarter 2013. Net debt was BRL 124 million altogether in December 2014, BRL 321 million in December 2013 that is respective 0.3x and 0.98x the adjusted EBITDA. The strong reduction of indebtedness has to do with the payment of debt to the founding shareholders and lower receivables anticipation.

CVC Brasil Operadora e Agência de Viagens S.A. to Report Q4, 2014 Results on Feb 05, 2015

CVC Brasil Operadora e Agência de Viagens S.A. announced that they will report Q4, 2014 results on Feb 05, 2015

CVC Brasil Operadora e Agência de Viagens S.A., Q4 2014 Earnings Call, Feb 06, 2015

CVC Brasil Operadora e Agência de Viagens S.A., Q4 2014 Earnings Call, Feb 06, 2015

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