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BBM Logística announces 3Q 2020 results

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  • + 73% gross revenue vs. 3Q19
  • + 92% EBITDA vs. 3Q19
  • Acquisition of Translag in September

SÃO JOSÉ DOS PINHAIS, Brazil, Nov. 16, 2020 /PRNewswire/ -- BBM Logística, a Brazilian leading logistics company operating in road transportation of freight in the Southern Cone, announced strong quarter results with record sales in 3Q 2020.

Gross revenue increased to BRL 316 million, compared with BRL 183 million for 3Q 2019 (a 73% increase) and with BRL 251 million for 2Q 2020 (a 26% increase).

EBITDA increase was even higher than revenue increase: 92% compared to 3Q 2019 and 27% compared with 2Q 2020, an impressive result driven by operating leverage and tight cost  control. This higher EBITDA growth pattern following the acquisition of Translovato confirms, once again, the effective model of post-acquisition integration applied by BBM.

Latest acquisition (Translag, in the state of Goiás) completed in September, will improve BBM Logística ability to operate in geographies across the country and consolidate the lead in growth of revenue and margins.

Management comments

"For the first time, we exceeded the BRL 300 million mark on the quarter, 26% above the previous Q2 – as a consequence of new contracts and higher activity of existing ones", said Andre Prado, CEO of the company, referring to the 3Q gross revenue.

The superior performance was boosted by the less-than-truck load (LTL) segment, especially the growth of e-commerce deliveries, which represented 14% of the LTL total volume. In the dedicated operations division, new contracts and clients were also gained during the period – indicating a continued trend for gains of market share, as a result of our strong network of operations and higher technology application compared to our competitors.

"The companies we acquired, like Translovato, improved overall profitability, contributing to EBITDA growth. This reflects our capacity to integrate acquisitions efficiently. We prepared BBM to be a consolidation platform and generate value from acquisitions and the 3Q results show we are in the right path.", said Marco Modesti, CFO and IRO of BBM.

The leading performance through 2020 proves the advantages of BBM's operational approach, with diversified and complementary business lines and strong management capabilities. "We have been able to continue serving all of our clients despite the challenges imposed by the pandemic.", said Mr. Prado.

In September, BBM concluded the acquisition of Translag, the third add-on since 2018, expanding BBM's transportation network to a new geography, the Brazilian Midwest.

The company ended 3Q 2020 with solid financial position and capacity to continue investing in the business expansion organically and through acquisitions.

Mr. Prado reinforced his optimistic view for BBM: "We are proud of our very positive results and see many possibilities, including organic opportunities and new acquisitions. The geographic expansion and diversified portfolio of services combined with relevant investments in technology further improve our services and will continue driving growth in the future."

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About BBM Logística

BBM Logística is specialized in road transportation of freight, operating FTL, LTL, international (Southern Cone) and dedicated logistics services for several industries including pulp & paper, chemicals, industrial gases, consumer goods and others. The company was founded in 1996, in the State of Paraná in Brazil. In 2017, it received an investment from Stratus, a private equity firm, and, since then, concluded relevant acquisitions including Translovato, Translag and Transeich.

BBM obtained was listed on the Brazilian stock exchange in 2019.

www.bbmlogistica.com.br  

Investors relation contact: ri@bbmlogistica.com.br

Cision View original content:http://www.prnewswire.com/news-releases/bbm-logistica-announces-3q-2020-results-301173598.html

SOURCE BBM Logística

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