Simpar SA
BOVESPA:SIMH3
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Simpar SA
Simpar SA operates as a holding company. The company is headquartered in Sao Paulo, Sao Paulo and currently employs 43,000 full-time employees. The company went IPO on 2020-09-18. The company operates as a holding company for JSL Group. Through its subsidiaries, the Company provides services divided in seven segments: JSL Logistica, dedicated to the transportation and logistics sectors; Vamos, involved in leasing, buying, and selling trucks, machinery and new and used equipment; Movida, engaged in in the light vehicle rental and fleet management sector; CS Brasil, which provides services to public agencies and companies, including fleet management and outsourcing, urban passenger transport and urban cleaning services; Original Concessionarias, engaged in sale of Volkswagen, FIAT and Ford cars and parts; BBC, offering financial services, such as leasing, issuing and administration of credit cards and processing of electronic payments; and Holding and others, composed mainly by entities located abroad, used as a fundraising vehicles.
Simpar SA operates as a holding company. The company is headquartered in Sao Paulo, Sao Paulo and currently employs 43,000 full-time employees. The company went IPO on 2020-09-18. The company operates as a holding company for JSL Group. Through its subsidiaries, the Company provides services divided in seven segments: JSL Logistica, dedicated to the transportation and logistics sectors; Vamos, involved in leasing, buying, and selling trucks, machinery and new and used equipment; Movida, engaged in in the light vehicle rental and fleet management sector; CS Brasil, which provides services to public agencies and companies, including fleet management and outsourcing, urban passenger transport and urban cleaning services; Original Concessionarias, engaged in sale of Volkswagen, FIAT and Ford cars and parts; BBC, offering financial services, such as leasing, issuing and administration of credit cards and processing of electronic payments; and Holding and others, composed mainly by entities located abroad, used as a fundraising vehicles.
Revenue Growth: Net revenue rose 6% year-on-year to BRL 11.3 billion, with service revenue up 8% to BRL 9.1 billion.
EBITDA Margin Expansion: Adjusted EBITDA grew 14% to BRL 3.1 billion, and the EBITDA margin improved by 2 percentage points to 27.5%.
Asset Sale: SIMPAR sold its Ciclus Rio waste management business for BRL 1.1 billion, with proceeds intended for deleveraging once received.
Leverage Down: Net debt to EBITDA fell to 3.5x (or 3.3x pro-forma), continuing a trend of ongoing deleveraging.
CapEx Reduction: Net CapEx decreased 40–45% year-on-year to BRL 1.1 billion for the quarter and BRL 3.8 billion for the first nine months.
Net Loss: The group posted a net loss of BRL 119 million due to high interest rates, similar to 2016 conditions.
Operational Efficiency: Productivity and margins improved across most businesses, notably at JSL, Movida, VAMOS, and AUTOMOB, with clear focus on extracting value from previous investments.
Strategic Focus: Management emphasized disciplined capital allocation, cost control, and extracting value from existing assets, while remaining open to further divestments if value-creating.
