JSL rises 50% gain, but margins fall

The JSL, specializing in logistics and sale of vehicles, posted a consolidated net profit of R $ 22.7 million in the second quarter of 2013. The number represents an increase of 50.1% over the same period last year. According to the company, the result was influenced by improvements in financial income resulting from a lower cost of debt and the dilution of administrative expenditure. Consolidated net revenues grew by 17.3% to $ 1.16 billion.
The company details the balance sheet numbers in two segments. A dedicated logistics services, core business, and another for the segment of utilities.
In logistics, an increase of 25.6% in sales compared with a year earlier, to $ 999 million. Dedicated services and management and outsourcing continue to be the main highlights, and totaled 78.9% of the turnover of logistics services in the quarter. According to the company's text, the growth is in line with the strategy of growth in business lines with higher added value.
Ebitda (earnings before interest, taxes, depreciation and amortization) totaled r $ 162,8 recurrent million, an increase of 11.4%. The company's Ebitda margin, however, presented a reduction of 2.4 percentage points compared to last year, to 18.2%. According to the JSL, the reduction was caused by the reduction of the operating margin "due to the increased use of third parties and aggregates, divestment costs and costs with the deployment of new operations".
The JSL also announced that it has entered into new contracts for a total value of about $ 990 million in the first six months of 2013 in the logistics industry.
In the utilities segment, there was a reduction of 6.9% in sales, to $ 300 million in the second quarter of 2013. In the last line of the balance sheet in this segment, the JSL left a loss of 2.6 million to a profit of $ 2 million.
Incorporated into the JSL in February 2012, the JSL is a company with 30 Dealers dealers, being 22 of light vehicles and 8 heavy vehicles, and an insurance broker. The light car dealerships, are under the brands Fiat, Volkswagen and Ford, and, under the brand name MAN.