Log In Logística Intermodal S A : 2Q22 Financial Statements

Log-In Logística Intermodal S.A

Interim Financial Statements

INDIVIDUAL AND

CONSOLIDATED

June 30, 2022

STATEMENT OF FINANCIAL POSITION

In thousands of reais - R$

				Consolidated			Parent Company
		Notes		06.30.2022		12.31.2021			06.30.2022		12.31.2021
ASSETS
CURRENT
Cash and cash equivalents	5	262,360	216,298	33,754	27,622
Total investments	5	324,739	390,243	305,246	370,930
Trade accounts receivable	6	283,723	214,645	171,048	157,396
Inventories			49,073	40,627	41,664	31,518
Related party receivables	7	11,396	-	31,592	55,305
Recoverable taxes	8	48,866	52,462	27,052	21,809
Merchant Marine Fund - AFRMM	9	23,595	17,064	23,595	17,064
Recoverable claims	27	19,673	1,734	673	885
Financial instruments	25	607	-	-	-
Other current assets			45.245	31,624	19,708	11,074
Total current assets				1.069,277		964,697			654,332		693,603
NON-CURRENT
Total investments	5	-	773	-	-
Merchant Marine Fund - AFRMM	9	22,899	16,651	22,899	16,651
Recoverable taxes	8	18,648	35,651	12,738	35,651
Deferred income tax and social contributions	10	264,046	257,089	229,424	225,970
Escrow deposits			25,153	21,173	11,824	11,466
Related party receivables	7	-	-	74,080	78,025
Indemnifiable Asset	17	195,018	-				-
Other non-current assets			1,895	1,830	1,738	1,814
Investments in subsidiaries	11	-	-	674,179	510,983
Right of Use Assets - Leasing	14	250,427	217,020	117,395	120,596
Property, plant and equipment	12	1,022,731	893,225	227,435	228,239
Intangible assets	13	67,985	30,355	26,992	25,032
Total non-current assets				1,868,802		1,473,767			1,398,704		1,254,427
TOTAL ASSETS				2,938,079		2,438,464			2,053,036		1,948,030
LIABILITIES
CURRENT
Payroll and social charges			46,073	35,269	18,423	21,773
Taxes and contributions payable			42,032	29,733	19,486	17,337
Trade Accounts Payable and operating provisions	15	197,049	174,222	104,031	80,714
Borrowings, financing and debentures	16	233,558	196,884	178,473	160,464
Liabilities with Leasing	14	57,834	41,764	37,621	37,062
Related party payables	7	1,515	-	92,510	68,055
Proposed dividends			-	20	-	-
Other current liabilities			6,122	11,716	3,751	3,621
Total current liabilities				584,183		489,608			454,295		389,026
NON-CURRENT
Acquisition of shareholding	1.1	75,687			75,687
Borrowings, financing and debentures	16	1,212,985	1.297.025	874,042	965.387
Liabilities with Leasing	14	194,841	178,225	94,441	97,713
Related party payables	7	-	-	-	37,369
Contingencies	17	279,207	9,892	988	3,354
Deferred income tax and social contributions	10	37,455	8,417	-	-
Total non-current liabilities				1,800,175		1,493,559			1,045,158		1,103,823
TOTAL LIABILITIES				2,384,358		1,983,167			1,499,453		1,492,849
EQUITY		18
Share capital			1,318,940	1,314,852	1,318,940	1,314,852
Capital reserves			30,023	28.959	30,023	28.959
Treasury shares			(50,922)	(50,922)	(50,922)	(50,922)
Accumulated losses			(755,222)	(837,472)	(755,222)	(837,472)
Cash flow hedge reserve			8,078	(1,366)	8,078	(1,366)
Cumulative translation adjustments			2,686	1.130	2,686	1.130
Equity attributable to controlling shareholders				553,583		455,181			553,583		455,181
Non-controlling shareholder interest			138	116	-	-
TOTAL EQUITY				553,721		455,297			553,583		455,181
TOTAL LIABILITIES AND EQUITY				2,938,079		2,438,464			2,053,036		1,948,030

The accompanying notes are an integral part of these financial statements.

3

CONSOLIDATED INCOME STATEMENT

In thousands of reais - R$, except for earnings per share

		Three-month period ended	Six-month period ended June
		June 30,		30,
	Notes	2Q22	2Q21	6M22	6M21
Ongoing operations
Net Revenue	22	609,190	352,850	997,630	649,565
Cost of services provided	23	(478,530)	(277,401)	(762,434)	(523,707)
GROSS PROFIT		130,660	75,449	235,196	125,858
Funds from subsidy - AFRMM invested	9	14,440	13,313	29,212	25,222
Administrative and selling expenses	23	(61,591)	(24,512)	(94,178)	(46,318)
Other income (expenses), net		2,441	(2,166)	(2,008)	(908)
PROFIT BEFORE NET FINANCE COSTS		85,950	62,084	168,222	103,854
FINANCIAL RESULT	24
Finance Income		16,571	4,555	29,058	8,838
Finance expenses		(58,004)	(30,740)	(105,744)	(59,394)
Monetary and exchange rate variances, net		(21,633)	15,887	1,958	(27,858)
		(63,066)	(10,298)	(74,728)	(78,414)
		22,884	51,786	93,494	25,440
INCOME TAX AND SOCIAL CONTRIBUTIONS	10
Current		(13,863)	(6,143)	(21,423)	(14,791)
Deferred		12,951	(8,102)	10,200	5,624
		(912)	(14,245)	(11,223)	(9,167)
PROFIT FOR THE PERIOD		21,972	37,542	82,271	16,273
PROFIT ATTRIBUTABLE TO
Controlling shareholders		21,960	37,528	82,250	16,246
Non-controlling shareholders		12	14	21	27
EARNINGS PER SHARE - IN REAIS
Basic (centavos per share)	19	0.21	0.36	0.79	0.16
Diluted (centavos per share)	19	0.21	0.36	0.78	0.15

The accompanying notes are an integral part of these financial statements.

4

PARENT COMPANY INCOME STATEMENT

In thousands of reais - R$, except for earnings per share

		Three-month period ended	Six-month period ended
		June 30,		June 30,
	Notes	2Q22	2Q21	6M22	6M21
Ongoing operations
Net Revenue	22	265,080	201,316	476,243	368,079
Cost of services provided	23	(222,281)	(162,872)	(398,920)	(313,901)
GROSS PROFIT		42,799	38,444	77,323	54,178
Funds from subsidy - AFRMM invested	9	14,440	13,313	29,212	25,222
Administrative and selling expenses	23	(16,301)	(16,381)	(34,930)	(29,148)
Other income (expenses), net		(1,262)	239	(5,899)	1,759
Income from equity method	11	17,647	25,363	67,055	26,853
PROFIT BEFORE NET FINANCE COSTS		57,323	60,978	132,761	78,864
FINANCIAL RESULT	24
Finance Income		11,044	4,595	20,477	9,076
Finance expenses		(36,378)	(26,802)	(70,718)	(51,358)
Monetary and exchange rate variances, net		(15,757)	1,599	(7,254)	(30,633)
		(41,091)	(20,608)	(57,495)	(72,915)
		16,232	40,370	75,266	5,949
INCOME TAX AND SOCIAL CONTRIBUTIONS	10
Current		(2,981)	(459)	(3,010)	(459)
Deferred		8,709	(2,383)	9,994	10,756
		5,728	(2,842)	6,984	10,297
PROFIT FOR THE PERIOD		21,960	37,528	82,250	16,246
EARNINGS PER SHARE - IN REAIS
Basic (centavos per share)	19	0.21	0.36	0.79	0.16
Diluted (centavos per share)	19	0.21	0.36	0.78	0.15

The accompanying notes are an integral part of these financial statements.

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