TUPY announces results for 2Q14

NET INCOME GROWS 120.4% DESPITE CHALLENGING SCENARIO IN DOMESTIC MARKET. EBITDA MARGIN STABLE.
On August 7, TUPY S.A. announced the results for the 2nd Quarter of 2014. The conference call will be held on August 8, at 09:00 AM (EDT) – 10:00 AM (BRT).

The main highlights for the quarter are:

• Sales volume: 148.3 thousand tons – 10.3% lower than 2Q13, due to the retraction in domestic market.
• Revenues: R$758.6 million – 4.9% decrease in relation to same quarter in 2013.
• Gross profit: R$128.1 million – 16.9% margin over revenues, 0.8 p.p. lower than 2Q13.
• Net income: R$23.3 million – 3.1% over revenues – 120.4% increase over 2Q13.
• Adjusted EBITDA: R$111.7 million – 6.4% decrease compared to 2Q13 and equivalent to 14.7% of revenues in 2Q14.
• Investments: R$52.2 million -43.9% increase compared to 2Q13, in line with the 2014 investment plan.
• Operating cash flow: R$69.6 million – 5.6% decrease in comparison with 2Q13, in line with the adjusted EBITDA variation.

Click here to access the Quarterly Release.