Q2 2024 Tegma Gestao Logistica SA Earnings Call Transcript
Key Points
- Tegma Gestao Logistica SA (BSP:TGMA3) announced a dividend distribution of BRL80 million, representing 80% of the net profit for the first semester of 2024, with a 4.8% dividend yield.
- The company expanded its operations with a joint venture with GDL to handle increased volumes of imported vehicles, particularly electric and electrified vehicles, in Espirito Santo.
- Net revenue in the automotive logistics division grew by 29% in Q2 2024, driven by a 6.4% increase in the number of vehicles transported and a 14% increase in average transportation distance.
- The integrated logistics division saw a 27% increase in net revenue due to new contracts in the chemical sector and high demand for home appliances.
- Tegma Gestao Logistica SA (BSP:TGMA3) achieved its highest quarterly revenue in five years, with a 29% growth in net revenue in Q2 2024, indicating a recovery in the automotive market and strong performance in industrial and integrated logistics.
- The company's market share in vehicle transportation dropped by 0.9 percentage points to 24.9% in Q2 2024.
- The EBITDA margin in the integrated logistics division decreased from 32.4% to 27.2% due to increased costs from emergency transportation and insurance expenses.
- Exports from Brazil fell by 30% in Q2 2024, impacted by competition from Chinese OEMs and economic challenges in key Latin American markets.
- The company is facing an administrative process with CADE, related to past accusations, which could impact its operations.
- Tegma Gestao Logistica SA (BSP:TGMA3) shares underperformed in the stock market since April, affected by broader capital market conditions impacting small caps.
Good afternoon to all. Welcome to the conference call of Tegma for the earnings concerning the second quarter of 2024. This conference is being recorded, and the replay may be accessed in our website. (Operator Instructions)
I'd like to pass the floor to Mr. Nivaldo who will begin the presentation. Mr. Nivaldo you can proceed.
Good afternoon to all. My name is Nivaldo Tuba, CEO of Tegma. And on behalf of the whole company, I would like to thank you for participating in our earnings conference call. I have with me Mr. Ramon Perez, CFO; and Director of Investor Relations, Ian Nunes.
As you can see, we changed the layout of our presentation to commemorate the 55 years of Tegma. The company is developing a new -- the company has a commitment with sustainability and our vision of the future. Our objective is to reinforce Tegma as a logistics partner and with solutions for the needs of our clients. As usual, we begin
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