JSL : announces its 2Q19 results

JSL S.A.
2Q19 Earnings Release

São Paulo, August 14, 2019 - JSL (B3: JSLG3 and Level 1 ADR: JSLGY), presents its results for 2Q19, which includes JSL Logística and CS Brasil, and, separately, the results of Vamos, Movida, Original, and BBC Leasing which together make up the results of JSL Consolidated. The financial information is presented in millions of Reais, unless otherwise indicated. The Company's interim financial information is prepared in accordance with Brazilian corporate law and presented on a consolidated basis in accordance with CPC-21 (R1) Interim Financial Reporting and IAS 34 - Interim Financial Reporting, issued by the IASB. The comparisons refer to the revised data for 2Q19, 1Q18 and 2Q18, except where indicated.

Operating and Financial Highlights

	Record Consolidated Net Revenue of R$2.4 billion, a 23% increase over 2Q18. JSL operates in diversified businesses with proven resilience through companies in leading or outstanding positions in markets with high growth potential;
	Record EBITDA of R$518.2 million, 32% higher YoY, with EBITDA Margin of 30.2%, 4.5 p.p. higher compared to 2Q18, mainly due to scale and efficiency in the businesses in which the Company operates;
	Vamos: EBITDA of R$136.6 million (+20% YoY) as a result of the 12.7% growth in net revenue from services. VAMOS continues to deliver robust results, combining growth and profitability;
	JSL Logística: EBITDA of R$130.8 million (+31% YoY), even with the net revenue from services growing 2.5% for the same period, as a result of the focus on efficiency, cost reductions and elimination of contracts with lower returns;
	CS Brasil: EBITDA of R$81.4 million (+61% YoY) arising from the 12,9% growth in net revenue from services and the greater representation of the Fleet Management and Outsourcing (GTF) business and exclusion of lower profitable businesses;
	Movida: EBITDA of R$154.9 million (+31% YoY) and record volumes in Seminovos with more than 16,000 units sold (+83% YoY). At the end of July 2019, Movida concluded a public offering of primary (R$532.5 million) and secondary (R$300.0 million) shares, which totaled R$832.5 million, strengthening its capital structure for a new growth cycle, increasing the liquidity of its shares, and returning to JSL the financial support made in 2018;
	Record Net Income of R$71.2 million in 2Q19, a 44% YoY growth, reflecting the positive effect of corporate reorganization on all JSL Group companies, which were independently organized with management focused on each business;

NOTE: The figures for 2019 were adjusted in accordance with the new accounting standard CPC 06 (R2)/IFRS16. Historical values already published have not changed. For purposes of comparability, the Exhibit section of this release provides a table with managerial information excluding the effects resulting from IFRS16 for the 2Q19 and 1H19.

To access the Earnings Release,click here.

The Company is pleased to invite you to participate in its 2Q19 Earnings Conference Calls, as follow:

Conference Call and Webcast (with Simultaneous Translation into English)
Thursday, August 15, 2019
10:00 a.m. (NY Time)
11:00 a.m. (São Paulo Time)

Dial-in Phone Numbers
Parties in Brazil: [phone]
Parties in other countries: [phone]
Access Code: JSLWebcast Access: A slide presentation will be available for viewing and downloading on the IR session of our website www.jsl.com.br/ir. The Conference Call will be live broadcast over the platform, remaining available after the event.

Investor Relations Area:

Phone: [phone]
[e-mail]
www.jsl.com.br/ir