Wed. Feb 26th, 2020

Owner of Havaianas reduces its profit by 46.7% in the first nine months of the year

The Brazilian company Alpargatas, owner of the famous Havaianas flip flops and Osklen and Mizuno brands, registered a net profit of 133.9 million reais (about 32, 1 million dollars) in the first nine months of the year, a 46, 7% less than in the same period of 2018, the company reported Friday.

In a statement sent to the market, Alpargatas also indicated that the turnover between January and September reached 2.9 billion reais (about 696, 1 ​​million dollars), which represents an increase of 11.7% in the same comparison.

Gross operating profit Ebitda in the first nine months of 2019 was 382 million reais (about 91.6 million dollars), for a reduction of 17.4% in the same comparison with the January-September period last year .

In the third quarter of 2019, Alpargatas said, the net profit was 58.5 million reais (about fourteen million dollars), which represents a 51.2% drop compared to the same period of the previous year.

The turnover between July and September was 1,040 million reais (about 249.6 million dollars), 11.4% higher than in the third quarter of 2018.

Ebitda for the third quarter of this year closed at 150.3 million reais (about 36 million dollars), a figure that is 34.6% lower than the period July-September 2018.

The conglomerate said that despite the numbers, "all the company's businesses grew by double digits in the quarterly period" and in Brazil direct sales to consumers advanced 10% in physical stores and 13% through trade electronic".

In September 2017, the Brazilian group J&F, controller of the meat giant JBS, concluded the sale of the control of Alpargatas to the resource manager Cambuhy Alpa Holdings and the Itausa fund, of the private bank Itaú, for 3,500 million reais (about 1,130 million of dollars at the time).

The sale amounted to 54.2% of the share capital of Alpargatas, with 85.78% of the voting capital and 20.95% of the company's preferred shares.

In addition to Havaianas, Alpargatas is also the owner of the Osklen brands, the sports topper and manufacturer in Brazil of the sports products of the Japanese Mizuno.

. (tagsToTranslate) Owner (t) Havaianas (t) reduces (t) profit (t) first

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