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→ TABELAS RELEASE (A PARTIR DO 1T20) / ER TABLES (AS OF 1Q20)

DRE RESUMIDA (INCOME STATEMENT - SUMMARY)
DRE POR REGIÃO (INCOME STATEMENT P/ REGION)
DRE CONSOLIDADA (CONSOLIDATED STATEMENT)
BALANÇO PATRIMONIAL (BALANCE SHEET)
DEMONSTRAÇÃO DO FLUXO DE CAIXA (CASH FLOW)
LOJAS (STORES)
→ TABELAS - HISTÓRICO (DE 2010 ATÉ 2020) / TABLES - TRACK RECORD (2010-2020)
VOLUMES (VOLUME)
DRE POR REGIÃO (INCOME STATEMENT P/ REGION)
RL BREAK (NET REVENUE BREAKDOWN)
0-2020)
→ TABELAS RELEASE (A PARTIR DO 1T21) / ER TABLES (AS OF 1Q21)
DRE RESUMIDA (INCOME STATEMENT - SUMMARY)
DRE POR REGIÃO (STATEMENT P/ REGION)
DRE CONSOLIDADA (CONSOLIDATED STATEMENT)
BALANÇO PATRIMONIAL (BALANCE SHEET)
DEMONSTRAÇÃO DO FLUXO DE CAIXA (CASH FLOW)
LOJAS (STORES)
BRASIL
(mil pares/peças)
Volume total
Havaianas (sandálias e extensão de marca)
Osklen (calçados, vestuário e acessórios)
Outros
(R$ milhões)
Receita Líquida
Outros
Lucro Bruto
Margem Bruta (%)
Outros
EBITDA Recorrente
Margem EBITDA (%)
Outros
INTERNACIONAL
(mil pares/peças)
Volume total
(R$ milhões)
Receita líquida
Lucro Bruto
Margem Bruta (%)
EBITDA Recorrente
Margem EBITDA (%)
*Exclui os números de Mizuno em 2021 e 2020

Excludes Mizuno numbers in 2021 and 2020
BRAZIL
1T20* 2T20* 3T20* 4T20*

(thousand pairs/pieces)
1Q20* 2Q20* 3Q20* 4Q20*
Total volume 43,511 31,086 63,563 75,012
Havaianas (sandals & brand extension) 42,003 30,290 61,955 73,293
Osklen (footwear, apparel & accessories) 335 122 325 746
Other 1,172 675 1,283 973
(R$ million)
Net Revenue 481.8 323.1 727.4 952.0
Havaianas (sandals & brand extension) 421.3 302.3 676.0 831.9
Osklen (footwear, apparel & accessories) 50.7 16.2 46.8 107.1
Other 9.7 4.6 4.6 13.0
Gross Profit 219.9 136.5 351.9 495.4
Gross Margin (%) 45.6% 42.2% 48.4% 52.0%
Osklen (footwear, apparel & accessories) 33.7 8.8 31.8 77.6
Other 2.5 -3.1 3.6 14.7
Recurring EBITDA 63.6 7.3 163.4 297.5
EBITDA margin (%) 13.2% 2.3% 22.5% 31.3%
Osklen (footwear, apparel & accessories) -8.8 -19.8 -8.9 34.8
Other -0.8 -11.8 -3.0 -4.2
INTERNATIONAL
1T20* 2T20* 3T20* 4T20*

(thousand pairs/pieces)
1Q20* 2Q20* 3Q20* 4Q20*
Total volume 5,925 6,469 4,761 5,411
(R$ million)
Net Revenue 197.5 316.0 216.0 150.5
Gross Profit 116.0 218.8 141.7 80.7
Gross Margin (%) 58.7% 69.2% 65.6% 53.6%
EBITDA 16.3 67.5 -5.2 -14.8
EBITDA Margin (%) 8.2% 21.3% -2.4% -9.8%
1T21* 2T21*
1Q21* 2Q21*
50,016 47,760
48,783 46,912
398 352
835 496
583.4 578.9
527.7 520.0
50.8 54.1
4.9 4.8
255.8 234.1
43.8% 40.4%
222.9 198.8
31.2 33.2
1.8 2.1
82.2 40.6
14.1% 7.0%
94.7 47.0
-11.9 -6.2
-0.6 -0.2
1T21* 2T21*
1Q21* 2Q21*
7,959 11,238
317.9 516.4
216.9 378.1
68.2% 73.2%
76.6 156.1
24.1% 30.2%
R$ milhões
Volume
Brasil
Internacional
Receita Líquida
Brasil
Internacional
Lucro Bruto
margem bruta
Brasil
margem bruta
Internacional
margem bruta
Despesas operacionais
EBITDA societário
margem EBITDA
EBITDA recorrente
margem EBITDA recorrente
Brasil
margem EBITDA
Internacional
margem EBITDA
Lucro Líquido societário consolidado
Lucro Líquido recorrente
Lucro Líquido atribuído aos acionistas da empresa
controladora
Lucro Líquido recorrente atribuído aos acionistas
da empresa controladora
*Exclui os números de Mizuno em 2021 e 2020

Excludes Mizuno numbers in 2021 and 2020
1T20* 2T20* 3T20*
R$ million
1Q20* 2Q20* 3Q20*
Volume 49,436 37,555 68,324
Brazil 43,511 31,086 63,563
International 5925 6469 4761
Net Revenue 679.2 639.1 943.5
Brazil 481.8 323.1 727.4
International 197.5 316.0 216.0
Gross Profit 335.9 355.3 493.6
Gross margin 49.4% 55.6% 52.3%
Brazil 219.9 136.5 351.9
Gross margin 45.6% 42.2% 48.4%
International 116.0 218.8 141.7
Gross margin 58.7% 69.2% 65.6%
Operating expenses -375.4 -254.5 -393.8
EBITDA -1.3 142.2 141.1
EBITDA margin -0.2% 22.2% 15.0%
Recurring EBITDA 79.8 74.8 158.2
Recurring EBITDA margin 11.8% 11.7% 16.8%
Brazil 63.6 7.3 163.4
EBITDA margin 13.2% 2.3% 22.5%
International 16.3 67.5 -5.2
EBITDA margin 8.2% 21.3% -2.4%
Net Income 23.3 44.5 -2.6
Recurring net income 77.8 33.9 116.0
Net income attributable to the shareholders'
26.4 54.3 5.4
company
Recurring net income attributable to the
80.7 43.0 122.4
shareholders' company
4T20* 1T21* 2T21*
4Q20* 1Q21* 2Q21*
80,423 57,975 58,998
75,012 50,016 47,760
5411 7,959 11,238
1,102.5 901.3 1,095.3
952.0 583.4 578.9
150.5 317.9 516.4
576.1 472.7 612.2
52.3% 52.5% 55.9%
495.4 255.8 234.1
52.0% 43.8% 40.4%
80.7 216.9 378.1
53.6% 68.2% 73.2%
-462.8 -335.6 -428.8
153.9 175.3 221.6
14.0% 19.5% 20.2%
282.7 158.7 196.7
25.6% 17.6% 18.0%
297.5 82.2 40.6
31.3% 14.1% 7.0%
-14.8 76.6 156.1
-9.8% 24.1% 30.2%
61.7 126.2 105.6
215.0 135.0 111.4
54.1 131.7 107.5
202.6 140.2 115.3

DEMONSTRAÇÃO DO RESULTADO / CONSOLIDATED STATEMENT
(Em milhares de reais) / (in R$ thousand)
Receita líquida de vendas
Custo dos produtos vendidos
Lucro Bruto
margem bruta
Receitas (Despesas) Operacionais
Vendas
Gerais Administrativas
Honorários dos administradores
Amortização do diferido / intangível
Outras (despesas) receitas operacionais
EBIT - Resultado Operacional
margem operacional
Resultado Financeiro
Ganho/perda posição monetária líquida
Variação Cambial
Operações de Hedge
Lucro Operacional
I.R. e Contribuição Social

Lucro líquido Consolidado
operações continuadas
Resultado líquido das

operações descontinuadas
Lucro Líquido Consolidado

Lucro da empresa controladora
Participação de Minoritários
EBITDA - R$ milhões
margem EBITDA
*reclassificação 2T20
** Exclui os números de Mizuno em 2019 e 2020
Excludes Mizuno (2020 and 2019)
¹ Exclui os números de Topper e Rainha em 2014 e 2015
Excludes Topper and Rainha
² Exclui os números de Timberland em 2016
Excludes Timberland
³ A partir do 1T17 não publicamos mais EBITDA ajustado, ou seja, este fica apurado estritamente conforme CVM 527
As of 1Q17, we stopped reporting adjusted EBITDA, i.e. EBITDA is strictly calculated in accordance with CVM Instru
4
No 1T17 houve a reclassificação de despesas e custo, descritas na nota explicativa nº 2 do ITR de 30/06/2017
in 1Q17, there were cost and expense reclassifications, described in note 2 of the Quarterly Financial Information da
* Exclui os numeros de Topper e Textil Argentina em 4T18, 2018, 4T19 e 2019

4Q18, 2018, 4Q19 and 2019: excludes Topper and Textile Argentina
Nota 1: Os períodos de 2010 e 2011 incluem ajuste de corte de reconhecimento de receita de vendas (Nota exp
Note 1: The periods of 2010 and 2011 include adjustment of the cut in the recognition of sales revenue (Note 4
TED STATEMENT
1T10 2T10 1S10

1Q10 2Q10 1H10
Net Sales 499,577 540,346 1,039,924
Cost of sales (258,176) (294,352) (552,529)
Gross Profit 241,401 245,994 487,395
gross margin 48.3% 45.5% 46.9%
Operating Income (Expenses) (159,817) (160,960) (320,777)
Selling (117,256) (140,054) (257,311)
General and administrative (30,812) (26,450) (57,263)
Management fees (1,139) (1,150) (2,288)
Amortization of intangible charges (4,292) (4,398) (8,691)
Other operating Income (expenses), net (6,317) 11,093 4,775
EBIT - Operating Results 81,584 85,034 166,618
operating margin 16.3% 15.7% 16.0%
Financial Result (1,747) (703) (2,450)
Gain/loss on net monetary position
Exchange variation (1,353) 1,917 565
Hedge operations (2,886) (647) (3,533)
Operating Income 75,598 85,602 161,200
Income and social contribution taxes (8,247) 1,221 (7,026)
Net Income from continuing operations 67,351 86,823 154,174
Net result from discontinued operations - - -
Consolidated net income 67,351 86,823 154,174

Net Income from controlling shareholder 66,880 85,427 152,306
Minority Interest 471 1,396 1,868
EBITDA - R$ million 102.3 87.2 189.5
EBITDA margin 20.5% 16.1% 18.2%
ado, ou seja, este fica apurado estritamente conforme CVM 527

i.e. EBITDA is strictly calculated in accordance with CVM Instruction 527.
o, descritas na nota explicativa nº 2 do ITR de 30/06/2017

ns, described in note 2 of the Quarterly Financial Information dated June 30, 2017
4T18, 2018, 4T19 e 2019

Textile Argentina
de corte de reconhecimento de receita de vendas (Nota explicativa 41.3 das DFP de 31/12/2011)
stment of the cut in the recognition of sales revenue (Note 41.3 of the Financial Statement of 12/31/2011)
3T10 4T10 1T11 2T11
9M10 2010
3Q10 4Q10 1Q11 2Q11
563,652 1,603,576 628,299 2,231,875 554,637 629,790
(308,377) (860,906) (352,878) (1,213,784) (295,542) (343,391)
255,275 742,670 275,421 1,018,091 259,095 286,399
45.3% 46.3% 43.8% 45.6% 46.7% 45.5%
(161,246) (482,023) (202,621) (684,644) (169,415) (204,447)
(124,114) (381,424) (157,979) (539,403) (129,933) (171,562)
(28,555) (85,817) (26,036) (111,853) (30,132) (33,687)
(1,130) (3,417) (5,121) (8,538) (1,374) (1,438)
(4,286) (12,978) (3,843) (16,821) (4,368) (5,100)
(3,162) 1,614 (9,642) (8,028) (3,608) 7,340
94,029 260,647 72,800 333,447 89,680 81,953
16.7% 16.3% 11.6% 14.9% 16.2% 13.0%
2,802 352 6,276 6,628 6,852 5,670
1,155 1,720 610 2,330 1,716 (1,019)
(3,193) (6,727) (2,495) (9,222) (1,297) 1,165
94,793 255,992 77,191 333,183 96,951 87,769
(12,545) (19,570) (6,402) (25,972) (8,448) (13,859)
82,248 236,422 70,789 307,211 88,503 73,910
- - - - - -
82,248 236,422 70,789 307,211 88,503 73,910

81,316 233,622 69,478 303,100 87,251 73,863
932 2,800 1,311 4,111 1,252 47
114.9 304.4 95.9 400.3 105.8 102.5
20.4% 19.0% 15.3% 17.9% 19.1% 16.3%

1S11 3T11 4T11 1T12
9M11 2011
1H11 3Q11 4Q11 1Q12
1,184,426 686,558 1,870,985 703,715 2,574,700 648,939
(638,932) (373,574) (1,012,506) (408,266) (1,420,772) (361,274)
545,494 312,985 858,479 295,448 1,153,928 287,665
46.1% 45.6% 45.9% 42.0% 44.8% 44.3%
(373,862) (221,593) (595,454) (241,001) (836,456) (201,206)
(301,495) (175,622) (477,117) (186,121) (663,238) (159,443)
(63,819) (33,562) (97,381) (35,704) (133,085) (35,549)
(2,812) (1,473) (4,285) (6,824) (11,109) (1,605)
(9,467) (5,198) (14,665) (5,520) (20,184) (5,814)
3,731 (5,738) (2,007) (6,832) (8,839) 1,205
171,633 91,392 263,025 54,447 317,472 86,459
14.5% 13.3% 14.1% 7.7% 12.3% 13.3%
12,522 8,810 21,332 8,284 29,616 6,452
697 (2,124) (1,427) 860 (567) (389)
(132) (1,088) (1,220) (4,437) (5,657) (3,729)
184,720 96,990 281,709 59,155 340,864 88,793
(22,308) (9,122) (31,430) (367) (31,797) (10,550)
162,412 87,868 250,279 58,788 309,067 78,243
- - - - - -
162,412 87,868 250,279 58,788 309,067 78,243

161,113 87,484 248,595 58,825 307,420 78,165
1,299 384 1,684 (36) 1,647 78
208.3 108.6 316.9 87.6 404.5 106.5
17.6% 15.8% 16.9% 12.4% 15.7% 16.4%

2T12 1S12 3T12 4T12
9M12 2012
2Q12 1H12 3Q12 4Q12
727,294 1,376,233 794,184 2,170,416 836,566 3,006,983
(413,993) (775,267) (472,063) (1,247,330) (486,846) (1,734,176)
313,301 600,966 322,121 923,086 349,720 1,272,807
43.1% 43.7% 40.6% 42.5% 41.8% 42.3%
(259,744) (460,950) (235,415) (696,366) (241,818) (938,183)
(204,392) (363,835) (189,100) (552,935) (193,017) (745,952)
(38,240) (73,789) (37,745) (111,535) (29,035) (139,425)
(1,613) (3,218) (1,641) (4,859) (6,310) (12,314)
(5,817) (11,631) (6,043) (17,674) (6,270) (23,944)
(9,682) (8,477) (886) (9,363) (7,186) (16,548)
53,557 140,016 86,706 226,720 107,902 334,624
7.4% 10.2% 10.9% 10.4% 12.9% 11.1%
1,860 8,312 373 8,685 (1,982) 6,701
(852) (1,240) (1,308) (2,547) 3,939 1,392
(2,075) (5,804) (3,998) (9,802) (33,062) (42,864)
52,490 141,284 81,773 223,056 76,797 299,853
9,419 (1,131) (7,660) (8,791) (10,527) (19,317)
61,909 140,153 74,113 214,265 66,270 280,536
- - - - - -
61,909 140,153 74,113 214,265 66,270 280,536

61,438 139,603 74,060 213,663 66,320 279,983
471 550 53 602 (50) 553
74.4 180.9 103.3 284.2 129.5 413.7
10.2% 13.1% 13.0% 13.1% 15.5% 13.8%

1T13 2T13 1S13 3T13 4T13
9M13
1Q13 2Q13 1H13 3Q13 4Q13
764,924 831,127 1,596,051 865,020 2,461,071 964,888
(426,444) (478,981) (905,425) (510,786) (1,416,211) (589,179)
338,480 352,146 690,626 354,234 1,044,860 375,709
44.3% 42.4% 43.3% 41.0% 42.5% 38.9%
(237,357) (273,075) (510,431) (287,788) (798,220) (269,865)
(179,403) (207,647) (387,050) (218,638) (605,688) (217,571)
(40,093) (44,500) (84,594) (43,154) (127,748) (34,957)
(1,840) (1,707) (3,546) (1,695) (5,242) (8,374)
(6,111) (6,169) (12,280) (6,282) (18,562) (6,512)
(9,909) (13,052) (22,961) (18,019) (40,980) (2,450)
101,123 79,071 180,195 66,446 246,640 105,845
13.2% 9.5% 11.3% 7.7% 10.0% 11.0%
7,009 21,215 28,224 17,959 46,184 (4,331)
(411) (8,403) (8,814) (47) (8,861) (18,226)
103,270 84,503 187,773 80,676 268,449 78,967
(11,169) (14,017) (25,186) (6,151) (31,337) (6,317)
92,101 70,486 162,587 74,525 237,112 72,650
- - - - - -
92,101 70,486 162,587 74,525 237,112 72,650

92,349 70,486 162,835 74,525 237,360 72,650
(248) - (248) - (248) -
122.8 130.7 253.5 104.7 358.2 136.2
16.1% 15.7% 15.9% 12.1% 14.6% 14.1%

1T14 1T14¹ 2T14 2T14¹ 1S14
2013
1Q14 1Q14¹ 2Q14 2Q14¹ 1H14
3,425,959 873,103 840,185 874,356 821,949 1,747,460
(2,005,390) (504,506) (479,094) (519,447) (480,715) (1,023,953)
1,420,569 368,597 361,092 354,909 341,234 723,507
41.5% 42.2% 43.0% 40.6% 41.5% 41.4%
(1,068,084) (230,585) (217,882) (320,274) (305,055) (550,859)
(823,259) (204,328) (192,703) (248,566) (234,687) (452,894)
(162,704) (43,023) (41,916) (44,195) (43,057) (87,218)
(13,617) (2,025) (2,025) (2,044) (2,044) (4,070)
(25,074) (5,974) (5,974) (5,499) (5,499) (11,473)
(43,430) 24,765 24,737 (19,970) (19,768) 4,796
352,485 138,012 143,209 34,635 36,179 172,648
10.3% 15.8% 17.0% 4.0% 4.4% 9.9%
41,853 5,531 5,343 (8,105) (8,047) (2,575)
(27,087) (6,091) (6,091) (9,908) (9,908) (15,999)
347,416 133,451 138,461 17,181 18,783 150,632
(37,653) (16,822) (18,525) 5,609 5,064 (11,214)
309,763 116,629 119,936 22,790 23,847 139,418
- - (3,307) - (1,057) -
309,763 116,629 116,629 22,790 22,790 139,418

310,011 116,629 116,629 22,790 22,790
(248) - - - -
494.4 139.1 144.3 73.3 74.7 212.4
14.4% 15.9% 17.2% 8.4% 9.1% 12.2%

3T14 3T14¹ 4T14 4T14¹
9M14 2014¹
3Q14 3Q14¹ 4Q14 4Q14¹
903,751 861,496 2,651,211 1,059,951 1,014,399 3,538,029
(562,939) (531,451) (1,586,892) (626,025) (595,218) (2,086,478)
340,812 330,045 1,064,319 433,926 419,181 1,451,552
37.7% 38.3% 40.1% 40.9% 41.3% 41.0%
(278,312) (264,965) (829,170) (324,542) (311,473) (1,099,375)
(221,204) (209,319) (674,097) (240,356) (228,926) (865,635)
(45,298) (44,220) (132,516) (59,011) (57,885) (187,078)
(2,052) (2,053) (6,122) (10,634) (10,634) (16,756)
(5,563) (5,563) (17,036) (7,681) (7,681) (24,717)
(4,195) (3,811) 601 (6,861) (6,347) (5,189)
62,500 65,081 235,149 109,384 107,708 352,177
6.9% 7.6% 8.9% 10.3% 10.6% 10.0%
(3,414) (3,469) (5,990) 5,228 5,132 (1,040)
(3,514) (3,514) (19,513) - - (19,513)
49,767 52,292 200,399 101,965 100,194 309,730
6,131 5,272 (5,082) (10,754) (10,152) (18,341)
55,898 57,564 195,317 91,211 90,042 291,389
- (1,667) - - 1,169 (4,861)
55,898 55,897 195,317 91,211 91,211 286,528

55,898 55,897 84,834 84,834 280,151
- - 6,377 6,377 6,377
105.1 106.7 317.4 153.1 151.9 477.6
11.6% 12.4% 12.0% 14.4% 15.0% 13.5%

1T15 1T15¹ 1T15² 2T15 2T15¹
2014
1Q15 1Q15¹ 1Q15² 2Q15 2Q15¹
3,711,162 948,927 925,563 907,715 996,942 959,036
(2,212,917) (525,467) (506,186) (495,649) (585,401) (555,356)
1,498,245 423,460 419,378 412,065 411,541 403,679
40.4% 44.6% 45.3% 45.4% 41.3% 42.1%
(1,153,713) (301,229) (292,056) (284,797) (360,866) (349,822)
(914,453) (222,318) (214,853) (208,002) (269,799) (260,086)
(191,527) (61,387) (60,490) (60,107) (66,799) (65,857)
(16,756) (2,073) (2,073) (2,073) (2,160) (2,160)
(24,717) (7,353) (7,353) (7,353) (8,177) (8,177)
(6,260) (8,098) (7,286) (7,261) (13,931) (13,541)
344,532 122,231 127,322 127,268 50,675 53,857
9.3% 12.9% 13.8% 14.0% 5.1% 5.6%
(9,027) (9,027) (9,026) (13,571) (13,571)
(760) (1,514) (1,387) (257) 5,196 5,087
(19,513) - - 0 - -
302,364 111,690 116,909 117,985 42,300 45,373
(15,836) (16,457) (18,232) (18,598) (344) (1,389)
286,528 95,233 98,677 99,387 41,956 43,984
- - (3,445) (4,155) - (2,028)
286,528 95,233 95,232 95,232 41,956 41,956

280,151 99,232 99,231 99,231 46,004 46,004
6,377 (3,999) (3,999) (3,999) (4,048) (4,048)
470.5 161.0 166.4 166.3 102.7 105.7
12.7% 17.0% 18.0% 18.3% 10.3% 11.0%

2T15² 1S15 3T15 3T15¹ 3T15²
2Q15² 1H15 3Q15 3Q15¹ 3Q15²
933,851 1,841,566 1,146,763 1,109,933 1,085,241
(540,458) (1,036,107) (679,223) (651,368) (636,338)
393,393 805,459 467,540 458,565 448,903
42.1% 43.7% 40.8% 41.3% 41.4%
(341,565) (626,363) (362,404) (351,411) (343,599)
(252,116) (460,118) (271,424) (262,006) (254,375)
(65,453) (125,560) (72,081) (71,135) (70,730)
(2,160) (4,234) (2,208) (2,208) (2,208)
(8,177) (15,531) (8,781) (8,781) (8,781)
(13,659) (20,920) (7,910) (7,281) (7,505)
51,828 179,096 105,136 107,154 105,304
5.5% 9.7% 9.2% 9.7% 9.7%
(13,571) (22,598) (18,712) (18,712) (18,392)
5,055 4,798 (2,418) (2,066) (1,247)
0 - - - -
43,312 161,296 84,006 86,375 85,665
(688) (19,285) (7,610) (8,415) (8,174)
42,624 142,011 76,396 77,960 77,491
(668) (4,823) - (1,563) (1,095)
41,956 137,188 76,396 76,397 76,396

46,004 145,235 79,294 79,295 79,294
(4,048) (8,047) (2,898) (2,898) (2,898)
103.6 269.9 148.7 150.7 148.9
11.1% 14.7% 13.0% 13.6% 13.7%

4T15¹ 4T15²
9M15 2015¹ 2015²
4Q15¹ 4Q15²
2,926,806 1,131,723 1,111,870 4,126,254 4,038,676
(1,672,445) (653,918) (641,168) (2,366,828) (2,313,613)
1,254,361 477,805 470,702 1,759,427 1,725,063
42.9% 42.2% 42.3% 42.6% 42.7%
(969,961) (397,332) (389,841) (1,390,620) (1,359,802)
(714,493) (270,606) (263,376) (1,007,551) (977,869)
(196,290) (63,406) (62,984) (260,889) (259,274)
(6,441) (13,860) (13,860) (20,301) (20,301)
(24,311) (9,297) (9,297) (33,608) (33,608)
(28,426) (40,163) (40,324) (68,271) (68,750)
284,400 80,473 80,861 368,806 365,261
9.7% 7.1% 7.3% 8.9% 9.0%
(42,395) (15,584) (15,466) (56,895) (57,861)
4,956 (7,545) (7,854) (5,911) (2,898)
- - - - -
246,961 57,344 57,541 306,000 304,502
(27,459) (64) (131) (28,099) (27,590)
219,502 57,280 57,410 277,901 276,912
(5,917) (7,617) (7,746) (14,653) (13,664)
213,585 49,663 49,664 263,248 263,248

224,530 47,784 47,784 272,314 272,314
(10,945) 1,879 1,879 (9,066) (9,066)
418.8 144.3 144.6 567.1 563.4
14.3% 12.8% 13.0% 13.7% 14.0%

1T16¹ 1T16² 1T16³ 2T16²
1Q16¹ 1Q16² 1Q16³ 2Q16²
1,011,568 993,763 993,763 1,011,899
(525,341) (514,562) (514,562) (564,516)
486,227 479,201 479,201 447,383
48.1% 48.2% 48.2% 44,2%
(325,286) (317,643) (317,643) (360,245)
(228,048) (221,492) (221,492) (277,354)
(62,239) (61,693) (61,693) (67,153)
(4,415) (4,415) (4,415) (4,745)
(8,847) (8,847) (8,847) (8,441)
(21,738) (21,197) (21,197) (2,552)
160,941 161,558 161,558 87,138
15.9% 16.3% 16.3% 8.6%
(16,678) (12,664) (12,664) (22,755)
(4,795) (9,154) (9,154) (8,066)
- 0 0 -
139,469 139,740 139,740 56,317
(26,003) (26,095) (26,095) 5,141
113,466 113,645 113,645 61,458
(2,599) (2,779) (2,779) (1,018)
110,867 110,866 110,866 60,440

115,832 115,831 115,831 60,184
(4,965) (4,965) (4,965) (256)
191.8 192.4 189.2 108.1
19.0% 19.4% 19.0% 10.7%

2T16³ 1S16 3T16² 3T16³
2Q16³ 1H16 3Q16² 3Q16³
1,011,899 2,005,661 982,832 982,832
(564,516) (1,079,078) (564,244) (564,244)
447,383 926,583 418,588 418,588
44.2% 46.2% 42.6% 42.6%
(360,245) (677,888) (315,538) (315,538)
(277,354) (498,846) (234,117) (234,117)
(67,153) (128,846) (66,346) (66,346)
(4,745) (9,160) (3,768) (3,768)
(8,441) (17,287) (8,195) (8,195)
(2,552) (23,749) (3,112) (3,112)
87,138 248,695 103,050 103,050
8.6% 12.4% 10.5% 10.5%
(22,755) (35,418) (14,052) (14,052)
(8,066) (17,220) (2,612) (2,612)
- - -
56,317 196,057 86,386 86,386
5,141 (20,954) (2,501) (2,501)
61,458 175,103 83,885 83,885
(1,018) (3,796) 658 658
60,440 171,307 84,543 84,543

60,184 176,015 85,334 85,334
256 (4,708) (791) (791)
112.8 302.0 128.6 128.1
11.1% 15.1% 13.1% 13.0%

4T16³ 1T17
9M16³ 2016³
4Q16³ 1Q17
2,988,493 1,065,911 4,054,404 807,460
(1,643,322) (610,798) (2,254,120) (457,234)
1,345,171 455,113 1,800,284 350,226
45.0% 42.7% 44.4% 43.4%
(993,426) (334,516) (1,327,942) (126,352)
(732,963) (243,000) (975,963) (220,245)
(195,192) (56,088) (251,279) (52,063)
(12,928) (3,744) (16,672) (4,618)
(25,483) (8,174) (33,657) (7,394)
(26,860) (23,510) (50,371) 157,968
351,745 120,597 472,342 223,874
11.8% 11.3% 11.7% 27.7%
(49,471) (18,973) (68,443) (9,529)
(19,831) 1,213 (18,619) (2,891)
- - -
282,443 102,837 385,280 211,454
(23,455) 433 (23,022) (30,016)
258,988 103,270 362,258 181,438
(3,138) (647) (3,785) (1,674)
255,850 102,623 358,473 179,764

261,349 100,218 361,567 185,847
(5,499) 2,405 (3,094) (6,083)
430.1 145.9 576.0 247.9
14.4% 13.7% 14.2% 30.7%

2T17 1S17 4 3T17
9M17 4
2Q17 1H174 3Q17
859,584 1,667,044 951,169 2,618,213
(468,219) (925,453) (537,023) (1,462,476)
391,365 741,591 414,146 1,155,737
45.5% 44.5% 43.5% 44.1%
(342,821) (469,173) (329,017) (798,190)
(277,570) (497,815) (256,347) (754,162)
(52,733) (104,796) (41,573) (146,369)
(2,106) (6,724) (3,976) (10,699)
(6,564) (13,958) (6,272) (20,230)
(3,848) 154,120 (20,849) 133,270
48,544 272,418 85,129 357,547
5.6% 16.3% 8.9% 13.7%
(15,377) (24,906) (16,192) (41,097)
(2,971) (5,862) (9,126) (14,989)
30,196 241,650 59,811 301,461
24,222 (5,794) 11,496 5,702
54,418 235,856 71,307 307,163
- (1,674) - (1,674)
54,418 234,182 71,307 305,489

55,977 241,824 73,318 315,141
(1,559) (7,642) (2,011) (9,652)
72.6 320.5 109.0 429.5
8.4% 19.2% 11.5% 16.4%

4T17 1T18 2T18
2017
4Q17 1Q18 2Q18
1,103,649 3,721,863 902,084 890,583
(619,784) (2,082,261) (493,249) (472,719)
483,865 1,639,602 408,835 417,863
43.8% 44.1% 45.3% 46.9%
(461,997) (1,260,187) (264,829) (379,618)
(266,696) (1,020,857) (244,397) (282,893)
(46,584) (192,953) (49,890) (55,278)
(1,486) (12,185) (4,927) -
(0) (37,564) (8,011) (8,835)
(129,897) 3,372 42,396 (32,611)
21,868 379,415 144,006 38,245
2.0% 10.2% 16.0% 4.3%
(15,984) (57,082) (8,700) (1,256)
(1,551) (16,539) (5,449) (28,672)
(1,368)
4,333 305,794 129,857 6,949
40,738 46,441 (16,977) 11,324
45,071 352,235 112,880 -
- (1,675) - -
45,071 350,560 112,880 18,273

47,145 362,287 114,072 22,533
(2,074) (11,727) (1,192) (4,260)
56.7 486.2 169.1 64.1
5.1% 13.1% 18.7% 7.2%

1S18 3T18 4T18
9M18
1H18 3Q18 4Q18
1,792,667 930,773 2,646,921 1,199,795
(965,969) (526,599) (1,450,123) (690,936)
826,698 404,174 1,196,798 508,859
46.1% 43.4% 45.2% 42.4%
(644,447) (200,477) (827,527) (413,157)
(527,290) (283,988) (800,035) (301,036)
(110,095) (47,854) (143,672) (51,350)
- (1,994) (11,961) (3,924)
(16,846) (9,179) (25,319) (15,948)
9,785 142,538 153,460 (48,763)
182,251 203,697 369,271 95,702
10.2% 21.9% 14.0% 8.0%
(10,188) (4,264) (1,588) (13,899)
- 25,207
(34,121) (28,254) (52,204) 9,161
(1,136) (12,169)
137,942 171,180 315,479 104,002
(5,653) (51,382) (64,269) (11,600)
131,154 119,797 251,210 92,402
(1) - - -
131,154 119,797 251,210 92,402

136,605 120,895 257,781 93,289
(5,452) (1,098) (6,572) (888)
233.2 229.8 447.9 123.6
13.0% 24.7% 16.9% 10.3%

4T18* 1T19
2018 2018*
4Q18* 1Q19
1,081,763 3,904,509 3,380,218 819,024
(581,516) (2,191,673) (1,726,381) (409,060)
500,247 1,712,836 1,653,837 409,964
46.2% 43.9% 48.9% 50.1%
(365,902) (1,254,760) (1,112,603) (311,861)
(284,783) (1,108,981) (1,037,730) (239,314)
(42,897) (198,631) (167,230) (45,844)
(3,900) (15,877) (15,773) (5,085)
(7,683) (16,846) (32,092) (7,851)
(26,640) 102,427 140,222 (13,768)
134,345 458,076 541,232 98,102
12.4% 11.7% 16.0% 12.0%
3,300 (39,350) 3,740 (8,173)
1,440 54,838 (3,905) (0)
(12,169) (64,728) (7,222) (5,167)
(0) (7,222) (0) 1,252
126,916 401,613 533,845 86,014
(8,584) (77,572) (60,869) (21,629)
118,333 324,041 472,977 64,385
(25,930) - (148,936) (20,907)
92,403 324,041 324,040 43,478

93,289 331,500 331,501 53,083
(888) (7,460) (7,460) (9,605)
158.0 564.7 638.7 137.3
14.6% 14.5% 18.9% 16.8%

1T19** 2T19 2T19** 1S19
1Q19** 2Q19 2Q19** 1H19
730,671 993,447 750,722 1,946,970
(347,399) (539,628) (346,053) (1,065,109)
383,272 453,819 404,669 881,862
52.5% 45.7% 53.9% 45.3%
(282,369) (398,189) (337,155) (735,505)
(219,991) (303,759) (267,434) (559,067)
(37,985) (51,093) (29,689) (111,066)
(4,554) - (4,873) -
(7,851) (7,666) (7,236) (15,948)
(11,987) (35,670) (27,923) (49,424)
100,903 55,629 67,514 146,357
13.8% 5.6% 9.0% 7.5%
(8,331) (22,841) (4,213) (47,712)
- 23,794 - 47,652
(4,533) 3,720 (1,915) (22,243)
1,251 (1,542) (1,542) (291)
89,290 58,760 59,844 76,402
(22,112) (27,149) (27,696) (5,653)
67,178 - 32,148 72,566
(23,701) - (537) -
43,477 31,611 31,611 72,566

53,083 35,935 35,935 86,494
(9,605) (4,324) (4,324) (13,928)
138.2 98.0 104.3 231.2
18.9% 9.9% 13.9% 11.9%

1S19** 3T19 3T19**
9M19
1H19** 3Q19 3Q19**
1,481,393 1,036,863 800,628 2,955,965
(693,452) (556,586) (387,524) (1,597,607)
787,941 480,276 413,105 1,358,358
53.2% 46.3% 51.6% 46.0%
(619,523) (375,669) (319,566) (1,105,386)
(487,425) (288,743) (249,822) (844,437)
(67,674) (48,888) (33,715) (147,632)
(9,427) (5,465) (4,854) (16,059)
(15,086) (8,865) (8,477) (24,727)
(39,911) (23,709) (22,699) (72,529)
168,417 104,607 93,539 252,972
11.4% 10.1% 11.7% 8.6%
(12,544) (17,588) (771) (61,754)
- 23,966 - 66,852
(6,448) (50,778) 3,279 (71,134)
(291) 437 437 146
149,135 60,644 96,484 187,083
(49,808) (2,164) (6,326) (53,158)
99,327 - 90,158 -
(26,762) - (31,678) -
72,565 58,480 58,480 133,925

86,494 66,304 66,304 155,677
(13,928) (7,824) (7,824) (21,752)
242.5 150.3 133.4 382.0
16.4% 14.5% 16.7% 12.9%

4T19 4T19**
9M19** 2019
4Q19 4Q19**
2,282,021 1,142,703 997,729 3,712,184
(1,080,976) (563,379) (463,309) (1,845,252)
1,201,046 579,323 534,420 1,866,931
52.6% 50.7% 53.6% 50.3%
(939,089) (404,280) (369,820) (1,437,881)
(737,247) (288,197) (263,254) (1,088,172)
(101,389) (40,591) (32,928) (165,763)
(14,281) (5,044) (4,519) (21,036)
(23,563) (7,268) (7,268) (30,831)
(62,609) (63,181) (61,851) (132,079)
261,956 175,043 164,601 429,050
11.5% 15.3% 16.5% 11.6%
(13,315) 11,823 12,083 (601)
- 9 - 0
(3,168) (2,062) (3,283) (8,160)
146 7,058 7,058 7,204
245,619 191,871 180,458 427,493
(56,135) (56,848) (55,167) (111,510)
189,485 135,023 125,291 315,983
(55,561) (7,032) 2,700 (56,648)
133,924 127,991 127,991 259,335

155,677 121,010 121,010 274,105
(21,752) 6,981 6,981 (14,770)
375.9 214.5 201.9 588.3
16.5% 18.8% 20.2% 15.8%

1T20 1T20** 2T20 2T20**
2019**
1Q20 1Q20** 2Q20 2Q20**
3,279,751 747,041 679,250 680,517 639,066
(1,544,285) (386,294) (343,392) (327,014) (283,807)
1,735,466 360,747 335,858 353,503 355,259
52.9% 48.3% 49.4% 51.9% 55.6%
(1,308,909) (410,687) (375,356) (265,820) (254,531)
(1,000,501) (249,645) (234,249) (276,152) (263,072)
(134,317) (42,001) (33,444) (34,886) (30,433)
(18,800) (2,382) (3,576) (4,131) (2,026)
(30,831) (6,888) (6,888) (46,767) (6,766)
(124,460) (109,771) (97,199) 96,117 47,766
426,557 (49,940) (39,498) 87,683 100,728
13.0% -6.4% -5.8% 12.9% 15.8%
(1,233) (6,967) (7,146) (26,054) (26,330)
- (0) - 0 -
(6,451) 21,437 34,138 13,048 14,802
7,204 3,730 3,730 655 655
426,077 (31,740) (8,776) 75,332 89,855
(111,301) 38,942 36,625 (30,809) (32,274)
314,776 7,202 27,849 44,523 57,581
(55,442) 16,089 (4,558) - (13,057)
259,333 23,291 23,291 44,523 44,524

274,105 26,422 26,422 54,343 54,343
(14,770) (3,131) (3,131) (9,819) (9,819)
577.8 (8.8) (1.3) 132.1 142.2
17.6% -1.2% -0.2% 19.4% 22.2%

1S20 1S20** 3T20** 4T20**
9M20** 2020**
1H20 1H20** 3Q20** 4Q20**
1,427,558 1,318,316 943,456 2,261,771 1,102,506 3,364,278
(713,308) (627,199) (447,210) (1,077,060) (526,426) (1,603,486)
714,250 691,117 496,246 1,184,711 576,081 1,760,792
50.0% 52.4% 52.6% 52.4% 52.3% 52.3%
(676,506) (629,887) (396,488) (1,023,721) (462,785) (1,486,507)
(525,797) (497,321) (303,318) (797,988) (262,366) (1,060,354)
(76,887) (63,877) (39,419) (102,384) (32,261) (134,646)
(6,513) (5,602) (2,033) (8,546) (2,517) (11,063)
(13,654) (13,654) (6,566) (20,220) (7,237) (27,457)
(53,655) (49,433) (45,151) (94,582) (158,405) (252,987)
37,743 61,230 99,758 160,990 113,296 274,285
2.6% 4.6% 10.6% 7.1% 10.3% 8.2%
(33,021) (33,476) (41,394) (74,870) (30,126) (104,996)
- - - - - -
34,485 48,940 1,142 50,082 (21,662) 28,420
4,385 4,385 (121) 4,264 (1,528) 2,735
43,592 81,079 59,385 140,465 59,979 200,444
8,133 4,351 (1,833) 2,518 5,582 8,100
51,725 85,430 57,552 142,982 65,562 208,544
16,089 (17,615) (60,194) (77,808) (3,850) (81,658)
67,814 67,815 (2,642) 65,174 61,712 126,886

80,765 80,765 5,365 86,130 54,065 140,195
(12,950) (12,950) (8,006) (20,956) 7,647 (13,309)
123.4 140.9 141.1 282.0 153.9 435.9
8.6% 10.7% 15.0% 12.5% 14.0% 13.0%

-6566.20901809
99758.30676741
0.105737123423
-41393.5736038
33509
-2764
2430
33843
0
-30380
6484
-3973
-32891
1141.997310922
-121.42861
59385.30186457
-1833.30769753
-38756
11607
0
0
57551.99416704
-60193.5331111
-2641.53894405
5364.807083703
-8006.27372342
141.136644476
0.149595389898
1T21** 2T21** 1S21**
1Q21** 2Q21** 1H21**
901,297 1,095,318 1,996,615
(428,566) (483,118) (911,684)
472,731 612,200 1,084,931
52.5% 55.9% 54.3%
(335,578) (428,807) (764,385)
(275,796) (367,242) (643,038)
(36,535) (41,779) (78,314)
(4,178) (4,842) (9,020)
(6,983) (7,142) (14,125)
(12,086) (7,802) (19,888)
137,153 183,393 320,546
15.2% 16.7% 16.1%
(2,569) 2,071 (498)
- - -
28,577 (41,631) (13,054)
5,168 (5,062) 106
168,329 138,771 307,100
(33,479) (19,085) (52,564)
134,850 119,686 254,536
(8,668) (14,077) (22,745)
126,182 105,609 231,791

131,655 107,456 239,111
(5,473) (1,847) (7,320)
175.3 221.6 396.9
19.5% 20.2% 19.9%

BALANÇO PATRIMONIAL / BALANCE SHEET
ATIVO
ATIVO CIRCULANTE
Caixa e bancos
Aplicações financeiras
Clientes (líquido da PDD)
Estoques
Demais contas a receber
Despesas antecipadas
Ativos destinados a venda
Outros ativos
Impostos a recuperar
Ativos de Operação descontinuada
ATIVO REALIZÁVEL À LONGO PRAZO

Clientes
Contas a receber na venda de controlada
Aplicações financeiras
I.R. e contribuição social diferidos
Depósitos judiciais e compusórios
Demais contas a receber
ATIVO PERMANENTE
Investimentos
Imobilizado
Ativo direito de uso/Arrendamento Mercantil - IFRS 16
Intangível
TOTAL DO ATIVO
PASSIVO
PASSIVO CIRCULANTE
Fornecedores
Risco Sacado
Empréstimos e Financiamentos
Passivo de arrendamento
Passivo sobre ativos de operações descontinuadas
Obrigações negociadas de controlada
Contas a pagar pela aquisição de controlada
Salários e encargos sociais
Provisão para contingências
Provisão p/ IR e contr. social a pagar
Imposto a pagar
JCP e dividendos a pagar
Outras contas a pagar
Plano de Incentivo de Longo Prazo
PASSIVO EXIGÍVEL À LONGO PRAZO

Empréstimos e Financiamentos
Passivo de arrendamento
Contas a Pagar pela Aquisição de Controlada
Obrigações negociadas de controlada
Provisão p/ IR e contr. social a pagar
Tributos c/ exig. susp. e outros
Outras contas a pagar
Plano de Incentivo de Longo Prazo
Parcelamento tributário
Provisão para contingências
PATRIMÔNIO LÍQUIDO
Capital social realizado
Reserva de capital
Ações em tesouraria
Reservas de lucro
Avaliação patrimonial
Ajuste por Inflação
Resultado a realizar em op. de hedge
Dividendo Adicional proposto
Participação minoritários
TOTAL DO PASSIVO
Valor patrimonial por ação (R$)
* Exclui Topper e Rainha

Excludes Topper and Rainha
** Exclui Topper, Rainha e Timberland
Excludes Topper, Rainha and Timberland
*** Exclui Mizuno
Excludes Mizuno
ASSETS 3/31/2012 6/30/2012 12/31/2012
CURRENT ASSETS 1,665,705 1,776,588 1,838,987

Cash and banks 22,661 18,786 18,400
Cash investment 658,019 602,685 598,508
Trade accounts receivables 511,658 579,615 694,169
Inventories 382,243 477,012 443,938
Other receivables 37,546 30,907 22,928
Prepaid expenses 28,778 23,872 6,583
Assets available for sale - - -
Other assets - - -
Recoverable taxes 24,800 43,711 54,461
Assets from discontinued operations - - -
LONG-TERM ASSETS 119,180 116,557 129,900

Clients - - -
Accounts receivable on sale of subsidiary - - -
Tempory cash investment - - -
Recoverable taxes 25,265 27,766 28,300
Deferred income and social contribuition taxes 55,559 52,417 52,554
Escrow deposits 15,002 13,137 12,472
Other receivables 23,354 23,237 36,574
PERMANENT ASSETS 692,338 720,258 771,843

Investments 70,430 71,530 33,565
Property, plant and equipment 364,486 394,941 494,369
Asset right of use/ Leasing - IFRS 6 - - -
Intangible 257,422 253,787 243,909
TOTAL ASSETS 2,477,223 2,613,403 2,740,730
LIABILITIES 3/31/2012 6/30/2012 12/31/2012
CURRENT LIABILITIES 650,499 750,602 755,460

Suppliers 283,418 358,354 359,079
Drawee risk - - -
Loans and financing 149,958 146,716 188,406
Leasing liabilities - - -
Liabilities related to discontinued operations - - -
Traded bond of subsidary 13,818 14,807 11,687
Accounts Payable for Acquisition of Controlled
Payroll and related charges 114,228 115,165 109,466
Reserve for contingencies 12,108 13,393 11,383
Provision for income and social contribuition taxes 950 3,384 149
Taxes payable 13,582 20,028 13,347
Interest on capital and dividends payable 19,507 20,352 1,725
Other payable liabilities 42,930 58,403 60,218
Long-Term Incentive Plan - - -
LONG-TERM LIABILITIES 284,420 285,219 324,373

Loans and financing 91,564 88,816 110,347
Leasing liabilities - - -
Accounts Payable for Acquisition of Subsidiary
Traded bond of subsidary 60,092 65,178 60,773
Provision for income and social contribuition taxes 10,062 - -
Taxes Installments 86,625 94,644 114,109
Other payable 9,008 9,361 12,502
Long-Term Incentive Plan - - -
Tax installment 874 874 874
Reserve for contingencies 26,195 26,346 25,768
SHAREHOLDERS' EQUITY 1,542,304 1,577,582 1,660,897

Capital 518,921 562,158 562,158
Capital reserves 167,532 167,964 167,856
Treasury shares (40,587) (40,587) (42,828)
Profit reserves 922,714 914,659 1,014,252
Equity assessment (37,983) (33,424) (45,815)
Inflation Adjustment - - -
Hedge operation - - -
Additional dividend 11,707 6,812 5,274
Minority interest - - -
TOTAL LIABILITIES 2,477,223 2,613,403 2,740,730
Book value per share (R$) 4.43 4.12 4.33

3/31/2013 6/30/2013 9/30/2013 12/31/2013 3/31/2014 6/30/2014
1,876,137 1,963,862 2,150,120 2,184,259 2,270,561 2,162,387

21,728 49,598 30,180 27,976 31,228 69,580
591,565 589,411 717,341 786,424 803,903 600,957
664,461 669,723 711,764 801,554 738,398 736,198
481,977 522,291 577,377 467,528 548,164 627,314
29,255 42,075 30,177 31,828 45,478 32,196
32,611 27,414 18,277 10,765 50,267 35,568
- - - - - -
- - - - - -
54,540 63,350 65,004 58,184 53,123 60,574
- - - - - -
135,237 133,941 141,487 130,264 141,687 138,512

- - - - - -
- - - - - -
- - - - - -
26,856 33,925 32,740 20,777 16,603 17,390
58,836 50,635 58,323 58,000 63,152 62,418
12,686 12,383 12,446 13,134 13,544 12,764
36,859 36,998 37,978 38,353 48,388 45,940
969,527 1,014,372 1,026,242 1,047,461 1,013,785 1,019,626

197,353 190,833 192,322 183,098 171,983 160,706
533,844 586,381 598,079 624,264 593,317 611,751
- - - - - -
238,330 237,158 235,841 240,099 248,485 247,169
2,980,901 3,112,175 3,317,849 3,361,984 3,426,033 3,320,525
3/31/2013 6/30/2013 9/30/2013 12/31/2013 3/31/2014 6/30/2014
826,087 866,584 949,777 1,014,522 1,025,290 981,970

376,154 404,070 406,319 384,055 408,704 443,304
- - - - - -
204,630 222,974 263,219 275,311 244,848 164,786
- - - - - -
- - - - - -
10,789 11,392 11,208 10,942 9,382 8,993
125,407 126,354 147,804 127,176 143,908 129,894

13,771 8,664 7,653 6,755 7,019 6,377
2,231 1,777 3,107 4,075 3,408 1,256
18,765 14,659 25,160 21,194 20,676 18,154
20,514 1,966 1,690 2,135 21,862 22,392
53,826 74,728 83,617 182,879 165,483 186,814
- - - - - -
440,054 499,322 592,933 513,011 502,785 464,766

125,538 166,579 258,189 281,523 280,508 236,471
- - - - - -
57,612 61,204 54,867 50,731 39,184 37,618

- - 211 - - -
120,430 127,027 134,360 133,611 139,348 146,996
25,533 111,258 111,035 15,866 15,249 15,261
- - - - - -
874 874 874 766 766 766
110,067 32,380 33,397 30,514 27,730 27,654
27730
1,714,760 1,746,269 1,775,139 1,834,451 1,897,958 1,873,789
562,158 624,610 624,610 624,610 624,610 648,497
168,484 168,889 168,645 168,572 169,359 166,501
(42,828) (43,122) (47,652) (54,662) (54,662) (52,242)
1,057,088 1,046,124 1,098,879 1,121,802 1,215,813 1,192,573
(55,442) (50,232) (54,905) (56,811) (81,798) (73,420)
- - - - - -
- - (14,438) (1,760) (8,064) (8,120)
25,300 - - 32,700 32,700 -
- - - - - -
2,980,901 3,112,175 3,317,849 3,361,984 3,426,033 3,320,525
4.47 4.14 4.21 4.35 4.50 4.04

9/30/2014 31/12/2014* 3/31/2015 6/30/2015 30/09/2015** 31/12/2015**
2,036,186 2,138,855 2,349,170 2,132,503 2,374,927 2,208,631

108,752 72,803 89,079 129,272 185,439 129,604
430,821 412,819 496,794 298,682 291,104 358,589
764,111 914,957 865,453 820,275 964,472 883,760
610,191 595,233 714,003 720,257 772,407 633,664
35,517 46,585 65,282 54,706 51,050 48,887
20,218 12,546 34,210 23,537 17,912 14,797
- - - - - -
- 15,572 - - - -
66,576 68,340 84,349 85,774 92,543 84,663
- - - - - 54,667
147,027 141,683 128,880 143,608 131,360 140,236

- - - - - -
- - - - - -
- - - - - -
19,233 28,465 30,809 26,338 30,213 25,804
65,324 53,209 42,520 56,978 54,715 64,709
19,464 15,353 15,602 20,308 21,415 21,238
43,006 44,656 39,949 39,984 25,017 28,485
1,047,224 1,370,084 1,386,068 1,382,142 1,444,121 1,414,603

159,199 2,042 2,131 2,570 2,712 2,319
631,903 698,095 708,189 692,855 758,384 740,902
- - - - - -
256,122 669,947 675,748 686,717 683,025 671,382
3,230,437 3,650,622 3,864,118 3,658,253 3,950,408 3,763,470
9/30/2014 31/12/2014* 3/31/2015 6/30/2015 30/09/2015** 31/12/2015**
892,285 995,623 1,283,094 1,084,278 1,389,656 1,309,519

408,252 396,898 450,647 418,372 488,658 437,636
- - - - - -
201,956 295,931 388,621 328,185 338,581 495,243
- - - - - -
- - - - - 5,977
7,415 9,106 10,441 9,601 11,364 8,124
144,187 150,873 144,249 147,298 201,672 172,530

6,000 10,819 11,150 11,665 15,747 16,057
2,486 3,475 1,320 2,059 6,980 11,962
29,187 37,653 44,124 52,368 55,237 35,223
22,789 2,074 149,236 3,445 169,360 4,785
70,013 88,794 83,306 111,285 102,057 121,982
- - - - - -
434,900 554,095 527,945 524,955 546,621 522,715

197,514 218,072 184,687 177,238 187,639 177,449
- - - - - -
40,597 43,020 48,462 48,109 56,985 41,193

- 86,222 82,781 84,725 85,037 82,868
155,557 167,638 171,172 175,062 179,448 185,245
12,970 7,467 6,994 7,632 8,139 11,948
- - - - - -
- - - - - -
28,262 31,676 33,849 32,189 29,373 24,012
1,903,252 2,100,904 2,053,079 2,049,020 2,014,131 1,931,236

648,497 648,497 648,497 648,497 648,497 648,497
162,835 177,461 177,672 175,563 175,449 179,984
(72,171) (85,004) (85,086) (84,830) (84,170) (84,580)
1,224,200 1,134,716 1,060,289 1,226,207 1,109,495 1,123,749
(61,609) (27,846) 3,035 (10,392) 70,724 (30,408)
- - - - - -
1,500 2,802 4,218 714 4,210 2,287
- 147,100 147,100 - - -
- 103,178 97,354 93,261 89,926 91,707
3,230,437 3,650,622 3,864,118 3,658,253 3,950,408 3,763,470
4.12 4.34 4.18 4.24 4.18 3.99

31/03/2016** 30/06/2016** 30/09/2016** 31/12/2016** 3/31/2017
2,150,935 2,260,506 2,179,017 2,150,935 2,194,715

341,325 93,393 149,577 99,740 113,910
50,515 439,748 245,220 292,100 396,290
850,313 819,393 837,209 850,313 795,163
707,180 673,622 712,994 707,180 734,463
37,041 52,398 50,593 37,041 37,112
37,506 29,437 21,017 37,506 41,965
- - - - -
- - - - -
78,365 87,383 96,843 78,365 59,947
48,690 65,132 65,564 48,690 15,865
140,513 148,858 146,717 140,513 184,593

- - - - -
- - - - -
- - - - -
22,144 16,983 15,532 22,144 53,263
68,647 80,594 76,179 68,647 57,718
21,590 21,909 22,286 21,590 22,335
28,132 29,372 32,720 28,132 51,277
1,384,042 1,367,380 1,364,486 1,384,042 1,354,950

2,793 2,712 2,634 2,793 3,062
719,286 708,475 711,000 719,286 716,484
- - - - -
661,963 656,193 650,852 661,963 635,404
3,675,490 3,776,744 3,690,220 3,675,490 3,734,258
31/03/2016** 30/06/2016** 30/09/2016** 31/12/2016** 3/31/2017
1,183,424 1,129,241 994,342 1,183,424 1,003,419

406,479 394,027 395,325 406,479 364,879
- - - - -
402,882 341,133 183,734 402,882 215,688
- - - - -
- 13,109 - - -
6,568 5,376 6,559 6,568 5,870
149,003 159,489 188,868 149,003 172,767

16,500 17,131 13,637 16,500 15,209
33,560 37,304 39,791 33,560 34,433
22,512 30,149 31,377 22,512 25,465
22,945 19,534 31,731 22,945 37,402
122,975 111,989 103,320 122,975 131,706
- - -
501,537 662,980 654,823 501,537 521,568

168,970 341,302 332,858 168,970 373,194
- - - - -
31,947 28,100 25,200 31,947.00 24,387.00

81,013 72,779 66,705 81,013 62,292
187,934 188,550 193,051 187,934 -
10,117 10,867 11,547 10,117 24,441
- - - - -
- - - - -
21,556 21,382 25,462 21,556 37,254
1,990,529 1,984,523 2,041,055 1,990,529 2,209,271

648,497 648,497 648,497 648,497 648,497
183,542 183,542 183,542 183,542 172,799
(64,248) (64,248) (64,248) (64,248) (64,248)
1,218,788 1,261,865 1,315,725 1,218,788 1,513,070
(83,456) (131,034) (128,072) (82,845) (144,490)
- - - -
611 (869) (368) - -
- - - - -
86,795 86,770 85,979 86,795 83,643
3,675,490 3,776,744 3,690,220 3,675,490 3,734,258
4.11 4.10 4.22 4.11 4.59

6/30/2017 9/30/2017 12/31/2017 3/31/2018 6/30/2018 9/30/2018
2,152,961 2,128,172 2,439,913 2,351,174 2,275,490 2,311,373

110,222 142,560 141,231 118,250 133,344 234,927
289,108 228,094 565,122 591,695 524,030 392,938
776,785 792,095 911,541 758,936 733,204 721,231
794,898 776,212 698,761 749,371 753,747 829,899
47,180 42,527 26,838 28,317 27,153 47,726
35,119 26,052 11,262 39,018 33,027 25,151
- - - - - -
- - - - - -
99,649 120,632 85,158 65,587 70,985 59,501
- - - - - -
189,037 158,309 189,680 221,873 215,181 358,992

- - - - - -
- - - - - -
- - - - -
54,257 16,915 16,564 30,776 26,264 202,473
61,727 68,576 106,406 115,891 135,778 91,487
22,641 22,594 16,266 23,937 38,967 48,037
50,412 50,224 50,444 51,269 14,172 16,995
1,366,694 1,353,981 1,216,799 1,200,262 1,188,161 1,219,704

1,142 1,658 1,320 2,245 2,316 2,342
736,222 721,813 721,645 709,389 702,129 741,078
- - - - - -
629,330 630,510 493,834 488,628 483,716 476,284
3,708,692 3,640,462 3,846,392 3,773,309 3,678,832 3,890,069
6/30/2017 9/30/2017 12/31/2017 3/31/2018 6/30/2018 9/30/2018
1,132,862 1,242,896 1,115,857 1,063,643 1,023,122 1,124,637

364,178 344,094 388,112 369,146 351,218 456,532
- - - - - -
384,293 562,886 408,941 257,292 282,506 271,514
- - - - 0 0
- - - - 0 0
5,315 4,371 4,855 3,051 2,354 1,830
152,247 156,834 131,336 152,480 128,104 177,812

16,486 16,623 9,344 16,214 15,733 6,396
23,956 21,414 4,636 15,273 26,563 16,660
19,441 21,312 28,149 13,084 18,567 18,132
36,094 4,784 5,044 135,179 36,832 5,055
130,852 110,578 135,440 101,924 161,245 170,706
- - - - -
335,317 140,786 466,146 473,349 453,989 446,649

187,542 - 324,702 341,378 334,920 328,433
- - - - - -
23,962 19,959.00 18,834.00 12,938.00 10,703 6,616

59,445 56,331 55,917 51,328 50,356 69,908
- - - - - -
27,641 26,133 26,140 27,667 36,604 22,544
- - - - - -
- - - - -
36,727 38,363 40,553 40,038 21,406 19,148
2,240,513 2,256,780 2,264,389 2,236,317 2,201,721 2,318,783

648,497 648,497 648,497 648,497 648,497 648,497
172,799 172,799 172,799 172,799 172,799 172,799
(64,248) (64,248) (64,248) (64,248) (64,248) (64,248)
1,533,098 1,569,188 1,480,995 1,554,717 1,540,406 1,625,615
(131,717) (149,529) (149,092) (151,698) (166,964) (175,204)
- - - - - 41,728
- - - - - -
- - 97,439 - - -
82,084 80,073 77,999 76,250 71,231 69,596
3,708,692 3,640,462 3,846,392 3,773,309 3,678,832 3,890,069
4.66 4.70 4.72 4.66 4.60 4.86

12/31/2018 3/31/2019 6/30/2019 9/30/2019 12/31/2019 3/31/2020
2,389,312 2,311,104 2,411,360 2,433,524 2,610,134 3,074,573

176,225 131,409 168,773 167,392 566,263 1,415,176
364,713 458,779 494,465 377,153 - 5,551
972,499 847,016 849,972 864,544 883,288 692,441
730,330 739,341 770,010 828,342 674,780 812,390
37,289 33,133 35,316 64,431 43,383 38,394
22,712 25,869 26,843 26,847 14,839 15,836
- - - 26,627 367,819 -
- - - - - -
85,544 75,556 65,980 78,188 59,762 94,785
- - - - - -
364,425 361,661 443,560 447,404 427,649 655,513

3,063 2,600 2,535 3,170 2,845 2,437
- - - - - 220,000
- 11,204 11,374 11,548 11,689 11,806
200,279 199,081 282,243 280,908 300,837 275,888
98,650 86,325 97,552 100,946 56,371 106,982
44,395 44,700 29,001 29,418 29,467 29,210
18,038 17,751 20,855 21,414 26,440 9,190
1,226,368 1,536,110 1,467,981 1,480,606 1,484,257 1,523,831

2,322 2,326 2,315 2,309 2,294 2,438
770,722 762,131 755,193 742,055 736,102 733,211
- 324,778 336,578 429,140 431,493 472,314
453,324 446,875 373,895 307,102 314,368 315,868
3,980,105 4,208,875 4,322,901 4,361,534 4,522,040 5,253,917
12/31/2018 3/31/2019 6/30/2019 9/30/2019 12/31/2019 3/31/2020
1,159,610 1,094,750 1,161,301 1,117,295 1,256,495 1,725,325

449,069 353,458 422,707 429,005 350,505 294,784
- - - - 78,394 72,129
382,258 360,714 282,975 224,751 176,925 907,390
0 55,972 52,427 57,252 57,761 67,940
0 0 0 0 0 0
2,030 1,675 1,728 1,310 213,991 -
148,432 129,621 150,878 183,796 153,938 160,441

20,271 10,921 10,986 10,631 19,493 18,249
6,342 15,821 20,810 18,229 11,021 10,003
38,360 31,529 33,561 35,976 35,649 30,507
4,399 3,517 3,400 3,281 10,665 2,923
108,449 131,522 181,829 153,064 125,314 122,449
- - - - 22,839 38,510
350,657 614,488 632,644 641,823 530,953 664,619

230,676 220,331 214,163 207,994 101,825 195,656
- 271,412 287,687 311,816 316,618 348,107
7,748 6,791 7,018 4,825 - -

70,603 69,597 69,296 61,816 48,917 48,467
- - - - 0 13,302
23,758 26,242 33,815 37,146 15,692 19,267
- - - - 35,668 39,820
- - - - - -
17,872 20,115 20,665 18,226 12,233 -
2,469,838 2,499,637 2,528,956 2,602,416 2,734,592 2,863,973

648,497 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
172,799 174,509 176,219 177,928 188,794 183,615
(64,248) (64,248) (64,248) (64,248) (64,248) (64,248)
1,700,007 902,106 938,230 1,015,489 1,114,731 1,118,707
(132,468) (89,002) (93,172) (94,085) - 45,013
2,247 - - - (96,346) -
53,979 - - - - -
- - - - - -
89,025 76,272 71,929 67,332 91,661 80,886
3,980,105 4,208,875 4,322,901 4,361,534 4,522,040 5,253,917
5.14 4.19 4.24 4.38 4.57 4.81

6/30/2020 9/30/2020 12/31/2020 31/03/2021*** 30/06/2021***
4,363,585 3,899,565 2,679,455 2,714,062 2,699,349

2,439,648 1,972,235 693,003 924,382 867,113
201,332 5,538 - 5,540 -
727,964 852,025 982,709 773,686 799,681
868,481 780,568 715,124 796,905 839,874
36,294 43,223 41,446 38,724 52,534
17,032 25,389 19,854 21,056 26,243
- 54,439 72,981 27,985 -
- - - - -
72,834 166,148 154,338 125,784 113,904
- - - - -
754,018 673,045 674,697 666,447 694,568

2,051 2,539 1,521 1,019 776
222,244 223,330 224,350 225,417 227,102
11,893 11,953 12,009 12,066 12,159
391,182 304,335 303,494 306,398 319,556
87,727 92,052 95,041 83,347 98,003
29,839 29,431 29,606 29,958 30,188
9,082 9,405 8,676 8,242 6,784
1,534,073 1,514,262 1,460,434 1,466,160 1,673,127

2,475 2,500 2,451 2,502 2,430
749,750 744,392 752,833 764,161 760,937
463,224 436,976 337,975 319,460 311,484
318,624 330,394 367,175 380,037 598,276
6,651,676 6,086,872 4,814,586 4,846,669 5,067,044
6/30/2020 9/30/2020 12/31/2020 31/03/2021*** 31/06/2021***
2,734,830 2,370,756 1,277,051 1,237,745 1,303,770

265,948 365,172 464,458 404,844 410,820
49,625 119,020 218,264 216,891 176,010
1,998,602 1,377,130 139,989 168,717 174,350
69,931 68,064 47,402 50,884 50,187
0 0 0 0 0
- - - - -
40,000
111,776 147,840 116,998 140,827 162,718
18,998 17,436 14,236 13,717 6,560
22,681 25,181 7,908 15,335 38,171
42,877 34,992 31,306 31,529 29,177
2,924 2,197 1,933 1,920 846
144,432 195,349 224,998 184,117 201,469
7,036 18,375 9,559 8,964 13,462
995,278 772,199 518,983 471,583 532,315

500,880 295,012 103,874 75,701 68,002
345,645 328,851 254,839 236,839 232,312
- 69,371
- - - - -
48,016 52,142 51,826 51,453 52,351
16,383 13,990 - - -
23,456 23,384 20,891 21,743 21,387
60,898 58,820 71,128 67,310 72,214
- - - - -
- - 16,425 18,537 16,678
2,921,568 2,943,917 3,018,552 3,137,341 3,230,959

1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
188,799 191,300 195,132 198,485 204,564
(63,567) (63,567) (63,400) -63,358 -62,846
1,173,050 1,179,128 1,233,450 1,365,105 1,473,635
53,922 - 83,553 74,040 52,421
- 75,623 - - -
- - - - -
- - - - -
69,364 61,433 69,817 63,069 63,185
6,651,676 6,086,872 4,814,586 4,846,669 5,067,044
4.93 4.90 5.01 5.23 5.39

DEMONSTRAÇÃO DO FLUXO DE CAIXA / CASH FLOW
FLUXO DE CAIXA DAS ATIVIDADES OPERACIONAIS
Caixa Gerado nas Operações
Lucro Líquido do Período Proveniente das Operações Continuadas
Depreciação e Amortização
Resultado na Venda/baixa do imobilizado
Resultado da Equivalência Patrimonial
Juros, Variações Monetárias e Cambiais, AVJ
Provisão para riscos trabalhistas, cíveis e tributários
Imposto de Renda e Contribuição Social Correntes e Diferidos
Imposto de Renda e Contribuição Social Diferidos
Tributos com Exigibilidade Suspensa
Provisão para perda esperada (impairment) do contas a receber
Perdas nos Estoques - provisão e ajuste de inventário
Provisão para perda no imobilizado/intangível - "impairment"
Amortização de Encargos Empréstimos e financiamentos
(Ganho) /Perda com Valor Justo de Instrumentos Financeiros Derivativos
Outorga de Opções de Compra de Ações
Ajuste Remensuração 1a aquisição Osklen
Ganhos/Perdas não Realizados em Operações com Derivativos-Controladas
Resultado na Venda de Imóveis
Remensuração de Ativo classificado como Mantido para Venda
Ajuste Impairment Osklen
Caixa líquido gerado / (consumido) nas Operações Descontinuadas
Atualização Monetária de Depósitos Judiciais e Créditos Tributários

Outras Provisões
Provisão Para Plano de Incentivo de Longo Prazo
Resultado na Baixa de Operação Descontinuada
Perda na Venda de Controlada
Provisão Honorários de Sucesso
Provisão p/ Benefícios a Empregados
Provisão Reestruturação Argentina
Provisão de Juros - IFRS 16
Depreciação Direito de Uso IFRS 16
Resultado na Baixa de Direito de Uso IFRS 16
Crédito de Impostos Extemporâneo
Provisão p/ Perda no Imobilizado/Intangível "Impairment"
Variações nos Ativos e Passivos
Contas a Receber de Clientes
Estoques
Despesas Antecipadas
Recebimento Proc. Crédito Prêmio IPI
Fornecedores
Obrigações Tributárias
Obrigações Trabalhistas e Previdenciárias
Pagamentos de imposto de renda e contribuição social
Recebimento de derivativos
Pagamento de Encargos de Empréstimos e financiamentos
Contingências
Risco Sacado
Ativos à Venda
Contas a Receber Operações Descontinuadas
Outros
TOTAL CAIXA LÍQUIDO DAS ATIVIDADES OPERACIONAIS
FLUXO DE CAIXA DAS ATIVIDADES DE INVESTIMENTOS
Aquisições de imobilizado, Intangível
Aplicações Financeiras
Resgate de Aplicações Financeiras
Resultado na Venda de Controlada
Caixa líquido consumido pelo ativo mantido para venda
Recebimento pela Venda de Participação Acionária
Participação Minoritária
Recebimento pela Venda de Operação
Aquisição de Investimentos
Venda de controlada
Caixa líquido Gerado / (Consumido) pelas Operações Descontinuadas
Caixa Advindo na Aquisição de Controlada
TOTAL CAIXA LÍQUIDO DAS ATIVIDADES DE INVESTIMENTOS
FLUXO DE CAIXA DAS ATIVIDADES DE FINANCIAMENTOS
Captação de Empréstimos e financiamentos
Pagamento de Empréstimos e Financiamentos - Principal
Pagamento de Juros s/ Capital Próprio e Dividendos
Amortização por Reestruturação de Dívida de Controlada
Aquisição de Ações para Tesouraria, líquido
Pagamento de Principal Arrendamento Mercantil IFRS 16
Pagamento de Juros Arrendamento Mercantil IFRS 16
Venda de Ações em Tesouraria
Amortização por Reestruturação de Dívida de Controlada
TOTAL CAIXA LÍQUIDO DAS ATIVIDADES DE FINANCIAMENTO
Variação Cambial s/ Caixa e Equivalentes
AUMENTO (REDUÇÃO) DE CAIXA E EQUIVALENTES

SALDO INICIAL DE CAIXA E EQUIVALENTES
SALDO FINAL DE CAIXA E EQUIVALENTES
* Exclui Topper e Rainha

** Exclui Topper, Rainha e Timberland
*** Houve reclasificação entre contas do Caixa Líquido das atividades operacionais para melhor adequação
**** Exclui Mizuno
CASH FLOW FROM OPERATING ACTIVITIES 3/31/2014
Cash from operating activities 140,215
Net income of continued operations for the period 116,629
Depreciation and amortization 18,078
Income (loss) from disposal/write-off of property, plant and equips. 2,303
Equity pickup 6,091
Interest and Monetary and foreign exchange variation (6,361)
Provisions for tax, civil contingencies and labor claims 1,462
Provisions for current and deferred income tax and social contribution -
Deferred income and social contribuition taxes (3,157)
Suspended taxes payments 3,094
Provision for (reversal of) expected loss (Impairment) 657
Provision for (reversal of) inventory losses 2,211
Provision for Impairment of property, plant and equipment/Intangible assets -
Amortization of charges on loans and financing (13,474)
Gain/loss in operation with derivatives 11,895
Stock option plan granted 787
Remeasurement adjustment - 1st acquisition Osklen -
Gain / Loss at Fair Value of Derivative Financial Investments -
From sale of Real property -
Remeasurement od asset for sale -
Osklen Impairment Adjustment -
Net cash generated from (spent in) discontinued operations -
Correction of legal deposits -

Other provisions -
Provision for Long-Term Incentive Plan -
Write-off of the right of discontinued operations -
Loss on Sale of Subsidiary -
Provision for employee benefits -
Provision for success fees -
Provision for Restructuring Argentina -
Provision for IFRS 16 taxes -
IFRS 16 depreciation of right of use -
Write-off of the right of use IFRS 16 -
Extemporaneous tax credits -
Provision for Impairment of property, plant and equipment/Intangible assets -
Changes in assets and liabilities (114,128)
Trade accounts receivable 38,847
Inventories (116,016)
Prepaid expenses (40,242)
Taxes recoverable 2,069
IPI tax credit receipt
Trade accounts payable 40,779
Tax obligations 15,392
Labor-law and social security obligations, 24,212
Payment of income and social contribuition taxes (15,085)
Operations with derivatives -
Payment of Loan and Financing Charges -
Contingencies -
Risk drawn -
Assets available for sale -
Discontinued operations accounts receivable -
Other (64,084)
NET CASH - OPERATING ACTIVITIES 26,087
CASH FLOW FROM INVESTING ACTIVITIES 3/31/2014
Acquisition of property, plant and equipment and intangible assets (17,637)
Short-term investments 146,722
Redemption of Financial Investments -
Result of the sale of subsidiary -
Net cash consumed by assets held for sale -
Proceeds from sale of owership interest -
Minority interest -
Receivable from sale of permanent assets -
Acquisition of Investments -
Initial Cash Balance of controlled company -
NET CASH - INVESTING ACTIVITIES 129,085
CASH FLOW FROM FINANCING ACTIVITIES
Loans and financing raised 73,819
Payment of Loans and Financing - Principal (76,979)
Payment of Interest on Equity and Dividends (3,174)
Amortization through debt restructuring of subsidiary (2,750)
Acquisition shares to be held in treasury, net -
Leasing payment - IFRS 16 -
Leasing taxes payment - IFRS 16 -
Sale of treasury stock -
Amortization through debt restructuring of subsidiary -
NET CASH - FINANCING ACTIVITIES (9,084)
Exchange gains (losses) on cash and cash equivalents (3,123)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 142,965

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 134,682
CASH AND CASH EQUIVALENTS AT END OF PERIOD 277,647
para melhor adequação

6/30/2014 9/30/2014 31/12/2014¹ 3/31/2015 6/30/2015 30/09/2015² 31/12/2015²
234,847 304,194 449,779 123,079 196,730 323,619 414,615
139,418 195,317 286,528 95,233 137,189 213,585 277,901
36,005 54,528 77,725 24,898 50,279 77,195 101,611
2,863 3,362 4,466 730 1,261 1,735 2,464
16,000 19,513 19,513 - - - -
9,518 23,795 30,508 (9,777) 8,068 23,760 42,222
4,410 7,214 10,329 3,586 3,177 5,865 9,105
- - - - - - -
(4,476) (11,602) 630 10,223 3,200 6,240 6,255
7,942 13,327 22,057 - - - -
5,221 7,323 8,710 940 2,738 6,291 8,406
20,426 37,880 43,061 4,195 6,680 11,188 11,901
- - - - - 1,891 1,891
(21,030) (26,035) (31,961) (7,346) (15,515) (24,222) (35,210)
16,976 12,211 11,779 3,143 1,777 1,594 (1,283)
1,574 2,361 3,152 622 1,244 1,865 2,052
- - 4,521 (3,368) (3,368) (3,368) 4,198
- - - - - - (3,368)
- (35,000) (35,000) - - - -
- - (6,239) - - - -
- - - - - - -
- - - - - - (13,530)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(141,348) (168,948) (202,486) (46,238) (7,641) (51,274) (7,296)
32,853 12,959 (92,694) 74,043 106,447 (2,764) (18,821)
(220,410) (210,614) (98,432) (94,290) (114,921) (119,509) (53,441)
(25,677) (9,972) (311) (20,765) (10,492) (3,792) (1,382)
(7,008) (13,288) (4,064) (12,947) (11,982) (12,105) (11,290)
79,374 37,461 (5,252) 33,479 9,169 46,942 35,376
19,993 35,947 34,445 15,212 23,140 25,974 33,175
12,005 23,547 21,907 (13,115) (7,259) 31,907 23,343
(23,924) (29,051) (41,672) (16,504) (12,976) (17,412) (27,018)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(8,554) (15,937) (16,413) (11,351) 11,233 (515) 12,762

93,499 135,246 247,293 76,841 189,089 272,345 407,319
6/30/2014 9/30/2014 31/12/2014¹ 3/31/2015 6/30/2015 30/09/2015² 31/12/2015²
(56,951) (98,497) (139,378) (22,558) (48,916) (98,301) (126,804)
413,337 544,770 528,021 38,493 19,801 65,754 89,702
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- 19,164 22,500 2,560 4,302 6,954 9,690
- (91,573) (250,646) - - - -
- - 16,293 - - - -
356,386 373,864 176,790 18,495 (24,813) (25,593) (27,412)
100,138 141,159 304,990 137,199 160,196 258,820 497,812
(223,923) (272,960) (377,845) (91,486) (180,077) (279,266) (372,991)
(58,448) (81,929) (116,303) (26,838) (199,998) (230,447) (424,894)
(4,784) (8,320) (10,310) (2,661) (4,667) (9,478) (12,400)
(1,226) (25,607) (38,440) (493) (2,968) (3,044) (5,433)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(188,243) (247,657) (237,908) 15,721 (227,514) (263,415) (317,906)
(12,078) (6,791) (4,247) 8,017 8,710 59,528 16,314
249,564 254,662 181,928 119,074 (54,528) 42,865 78,315

134,682 134,682 134,682 316,610 316,610 316,610 316,611
384,246 389,344 316,610 435,684 262,082 359,475 394,926

31/03/2016² 30/06/2016² 30/09/2016² 31/12/2016² 3/31/2017 30/06/2017³ 9/30/2017
144,774 227,150 349,025 515,086 98,183 249,465 291,827
113,464 175,102 258,988 362,258 181,437 235,856 307,164
27,499 53,349 78,352 103,621 24,074 48,120 71,985
1,096 1,575 2,161 6,332 7,027 8,728 11,766
- - - - - - -
6,924 26,929 53,804 71,702 11,572 24,432 34,743
5,210 11,960 14,681 31,430 3,795 8,098 15,173
- - - - - 29,985 -
(2,143) (23,046) (24,651) (24,520) 14,458 8,170 (2,104)
- - - - (198,624) (198,624) (198,624)
1,712 10,325 6,687 8,370 5,558 10,678 17,756
2,361 6,395 8,333 11,566 8,498 8,140 9,042
- - - - 14,337 14,337 11,425
(12,606) (24,159) (32,513) (42,560) (11,340) - (37,742)
4,756 3,847 3,291 3,118 720 - (154)
- - - - - - -
- - - - - - -
(393) (2,052) (2,052) (2,052) 44 294 146
- - - (213) - - -
- - - - - - -
- - - - - - -
(3,106) (13,075) (18,056) (13,966) 36,627 51,251 51,251
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(153,294) (137,183) (172,312) (174,115) (55,722) (229,023) (211,406)
(11,595) (7,088) (7,690) (96,111) 111,206 153,050 78,153
(114,699) (106,063) (148,614) (110,909) (118,604) (152,883) (181,503)
(24,061) (16,330) (8,049) 902 (30,269) (23,160) (14,666)
7,971 3,540 (3,054) 24,576 (29,535) (70,215) (59,479)
(2,371) (18,203) (10,638) 24,514 (53,519) (60,967) (61,919)
19,695 35,198 35,929 47,567 (8,180) (30,183) 185
(14,094) 2,077 31,761 5,845 10,486 (9,820) (1,180)
(5,862) (17,921) (22,123) (37,183) (613) (27,415) (28,346)
- - - - - (641) -
- - - - - (25,396) -
- - - - - (6,297) -
- - - - - - -
- - - - - - -
- - - - - - -
(8,278) (12,393) (39,834) (33,316) 63,306 24,904 57,349

- 8,520 89,967 176,713 340,971 42,461 20,442 80,421
31/03/2016² 30/06/2016** 30/09/2016** 31/12/2016** 3/31/2017 6/30/2017 9/30/2017
(14,944) (39,647) (60,555) (109,103) (27,115) (63,348) (80,223)
50,962 (71,870) 22,680 (105,052) (46,610) (59,010) (32,520)
- 116,718 - 93,267 100,603 144,443 115,343
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
2,827 3,786 3,786 11,886 - - -
- - - - - - -
- - - - - - -
38,845 8,987 (34,089) (109,002) 26,878 22,085 2,600
45,346 239,039 267,555 398,458 45,115 101,937 174,990
(130,562) (215,013) (419,341) (475,546) (47,081) (121,695) (195,781)
(3,010) (23,703) (43,150) (131,790) (5,554) (42,883) (111,547)
(3,705) (5,597) (8,585) (9,689) (1,676) (3,035) (4,946)
23,890 23,890 23,890 23,890 - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(68,041) 18,616 (179,631) (194,677) (9,196) (65,676) (137,284)
(15,885) (30,034) (38,124) (40,871) (1,624) 1,965 1,427
(53,601) 87,536 (75,131) (3,579) 58,519 (21,184) (52,836)

394,926 394,926 394,926 394,926 391,347 391,347 391,347
341,325 482,462 319,795 391,347 449,866 370,163 338,511

12/31/2017 3/31/2018 6/30/2018 9/30/2018 31/12/2018*** 3/31/2019 6/30/2019
478,085 159,597 236,653 318,967 569,945 131,388 273,841
352,236 112,880 131,156 251,210 472,976 64,385 146,113
106,822 24,820 50,574 78,703 97,224 24,513 47,840
13,858 2,350 4,702 4,871 6,773 1,851 8,313
- - - - - - -
48,294 9,399 21,551 33,927 29,901 (4,405) 25,180
22,937 5,212 8,661 14,278 26,843 6,180 11,465
- 1,365 25,233 29,881 60,869 21,630 51,987
(39,060) (6,184) (18,654) 34,388 - - (789)
(198,624) - - (189,226) (189,226) - -
26,070 6,274 8,515 14,259 9,072 (806) 3,903
12,552 3,713 7,112 14,088 37,197 1,635 821
11,425 - - - 3,338 - 10,456
(55,674) - - - - - -
498 (232) 1,135 - 7,222 (1,252) (268)
- - - - - 1,710 3,419
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
125,500 - - - - - -
51,251 - - - (8,007) (3,388) -
- - (10,501) (10,944) (12,624) 729 611

- - - - 6,956 (469) -
- - - - - - -
- - - - - - -
- - - - 21,431 - -
- - 7,169 8,011 - - 319
- - - - - - -
- - - 35,521 - - -
- - - - - 4,396 10,336
- - - - - 14,679 36,955
- - - - - - (230)
- - - - - - (82,590)
- - - - - - -
(175,082) (2,023) (6,324) (25,767) (384,111) (15,345) 39,781
(54,182) 135,243 137,122 106,754 (65,614) 126,968 101,787
(111,612) (63,064) (102,643) (224,772) (86,712) (35,230) (64,921)
377 (27,783) (21,474) (14,123) (9,841) (1,621) (4,530)
(24,739) 2,394 (4,293) 11,089 (10,073) 4,091 10,484
- 37,031 37,031 37,031 (93,598) -
(14,078) (12,866) (7,647) 142,317 31,628 (10,032) (8,857)
(2,694) (15,438) (10,501) (5,054) 13,610 (18,810) (4,611)
(26,200) 22,345 3,870 61,071 25,371 (2,235) 4,373
(37,140) (91) (16,315) (18,561) (45,955) 1,382 (31,446)
- (265) (1,722) (547) (3,657) (9,219) 595
- (9,371) (36,467) (46,737) (65,649) (2,718) (35,293)
- (5,459) (26,308) (41,438) (37,835) - (6,819)
- - - - - 25,677 -
- - - - - - 46,384
- - - - (129,817) - -
95,186 (27,668) 43,023 (32,797) (36,598) - 32,635

303,003 157,574 230,329 293,200 185,834 116,043 313,622
12/31/2017 3/31/2018 6/30/2018 9/30/2018 31/12/2018*** 3/31/2019 6/30/2019
(105,448) (9,804) (30,616) (43,290) (80,795) (14,599) (42,378)
(115,575) (47,401) (110,801) (164,201) (108,301) (136,750) (167,850)
152,713 113,986 113,988 171,186 167,389 29,129 133,532
- - - - - - -
- - -
- - - - 40,000 - -
- - - - 2,941 - -
- - - - - - -
- - - - - - -
- - - - - - -
(68,310) 56,781 (27,429) (36,305) 21,234 (122,220) (76,696)
456,557 52,662 203,983 331,544 434,937 171,427 252,197
(304,675) (191,471) (319,547) (456,837) (543,992) (197,701) (348,739)
(149,337) (4,917) (138,563) (206,504) (206,408) (18) (2)
(4,712) (4,581) (4,913) (6,673) - - (409)
- - - - - - -
- - - - - (12,410) (26,378)
- - - - - (4,396) (10,336)
- - - - - - -
- - - - - - -
(2,167) (148,307) (259,040) (338,470) (315,463) (43,098) (133,667)
5,365 554 6,283 5,412 (2,061) (3,300) (4,130)
237,891 66,602 (49,857) (76,163) (110,456) (52,575) 99,129

391,347 629,238 629,238 629,238 629,238 518,782 518,782
629,238 695,840 579,381 553,075 518,782 466,207 617,911

9/30/2019 12/31/2019 3/31/2020 31/03/2020**** 6/30/2020 30/06/2020*** 9/30/2020
486,681 737,739 88,693 114,775 109,794 102,030 239,248
189,484 314,776 7,202 27,849 51,726 85,430 142,982
58,596 79,056 21,316 18,500 43,161 37,413 58,851
40,369 10,322 564 472 672 580 3,652
- - - - - -
1,356 15,380 (25,791) (25,791) (12,932) (12,932) 38,679
14,383 19,704 5,476 5,476 10,450 10,450 12,171
56,135 111,301 (38,942) (36,625) (8,133) (4,351) (2,518)
- - - - - - -
- - - - - - -
6,159 10,793 11,921 11,921 39,924 39,924 42,029
5,090 (2,882) 8,169 8,169 12,861 12,861 27,041
82,998 77,179 - - - - (476)
- - - - - - -
(146) (7,204) (3,730) (3,730) (4,385) (4,385) (4,264)
5,129 15,995 (5,179) (5,179) 686 686 (217)
- - - - -
- - - - -
- - - - -
- - - - - - -
- - - - - - -
23,291 26,750 1,565 7,705 1,565 (37,617) (84,779)
(82,235) (88,909) (326) (326) (105,245) (105,245) (106,340)

704 211 420 420 2,022 2,022 470
16,379 65,024 8,821 8,821 18,697 18,697 28,821
- - 71,002 71,002 - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
13,873 18,239 4,810 4,810 11,514 11,514 17,065
55,346 72,142 19,860 19,746 42,469 42,241 62,200
(230) (138) 1,535 1,535 4,742 4,742 3,881
- - - - - -
- - - - - - -
(163,280) (206,289) 7,783 (18,299) (209,425) (201,661) (112,265)
92,150 (46,404) 245,356 187,223 205,591 134,441 67,251
(173,181) (112,685) (104,931) (90,422) (150,730) (98,936) (67,223)
(3,573) 5,928 846 846 177 177 (7,756)
(2,248) (21,503) (15,475) (9,691) (1,467) 137 2,902
- - (113,192) (147,130) -
(103,520) (37,649) (9,295) (102,879) 5,986 (135,384) (70,997)
(9,093) 6,319 7,300 (9,295) (46,375) 5,986 (4,433)
32,268 17,219 (1,025) 7,300 (2,869) (46,375) (11,030)
(44,859) (76,299) 1,089 (1,025) 2,443 (2,869) (2,622)
1,336 4,339 (539) 1,089 (32,994) 2,443 3,329
(35,669) (22,974) (8,214) (539) (9,818) (32,994) (80,351)
(14,702) (18,680) (6,265) (8,214) (28,769) (9,818) (15,682)
64,947 78,394 12,128 (6,265) (3,470) (28,769) 40,626
- - - - - -
- - - - - -
32,864 17,706 - 13,573 - 10,300 33,721

329,341 531,450 96,476 96,476 - 99,631 - 99,631 126,983
9/30/2019 12/31/2019 3/31/2020 3/31/2021 6/30/2020 6/30/2020 9/30/2020
(86,343) (144,230) (23,561) (23,292) (50,190) (48,755) (81,731)
(233,400) (207,428) (22,400) (22,400) (217,528) (217,528) (217,528)
91,058 222,556 21,561 21,561 22,189 22,189 216,689
- - - 71,002 - 71,002
(10,190) (20,251) - (269) - - (5,243)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
71,002
(1,435)
- - - - - -
(238,875) (149,353) (24,400) (24,400) (174,527) (174,527) (16,811)

-
-
317,348 114,393 817,037 817,037 2,209,072 2,209,072 2,240,072
(476,589) (374,928) (6,169) (6,169) (11,336) (11,336) (884,105)
(10) (36) (30,187) (30,187) (30,187) (30,187) (30,201)
- - - - - - -
- - - - - - -
(38,224) (52,547) (14,503) (14,503) (30,336) (30,336) (46,381)
(13,873) (18,239) (4,810) (4,810) (11,514) (11,514) (17,065)
- - - - - 3,404
1 - - - - -
(211,347) (331,357) 761,368 761,368 2,125,699 2,125,699 1,265,724
(1,722) (3,259) 15,469 15,469 21,844 21,844 30,076
(128,543) 47,481 848,913 848,913 1,873,385 1,873,385 1,405,972

518,782 518,782 566,263 566,263 566,263 566,263 566,263
390,239 566,263 1,415,176 1,415,176 2,439,648 2,439,648 1,972,235

31/12/2020*** 31/03/2021*** 30/06/2021***
484,285 315,188 525,086
208,544 134,850 254,536
79,683 20,209 47,048
43,846 1,667 1,551
- -
98,822 4,324 17,368
16,010 5,012 6,577
(8,100) 33,479 52,564
- - -
- - -
39,785 (456) 1,553
20,103 (5,148) (1,310)
(178) - -
- - -
(2,735) (5,168) (106)
2,903 3,159 6,780
- - -
- - -
(57,930) 100,539 102,862
(107,375) (1,324) (19,358)

(256) 3,504 3,487
46,433 (982) 15,031
- - -
- -
- -
- -
- -
22,034 4,412 8,682
81,924 17,983 29,349
772 (572) (623)
- -
- (300) (905)
(171,505) (29,877) (178,980)
(44,003) 112,546 (43,196)
(70,328) (88,513) (154,221)
(2,644) (609) (6,783)
12,387 2,038 19,202
33,509 (32,494) 46,126
(6,797) (219) (2,542)
(40,981) 22,663 46,750
(22,496) 11,482 7,742
3,195 2,317 (1,289)
(208,495) (1,281) (3,658)
(19,648) (3,946) (14,285)
139,870 (1,373) (42,254)
- -
- -
54,926 (52,488) (30,572)

312,780 285,311 346,106
12/31/2020 3/31/2021 6/30/2021
(187,080) (42,046) (93,668)
(17,528) (31,978) (31,978)
22,189 31,419 36,959
71,002 -
(6,287) - -
- -
- -
- 38,337
- (89,186)
- 1,784
(117,704) (42,605) (137,752)

-
-
2,261,671 26,412 62,239
(2,242,030) (30,327) (59,127)
(30,207) (13) (14)
- - -
- - -
(62,876) (11,482) (22,715)
(22,034) (4,412) (8,682)
4,282 236 3,206
- - -
(91,194) (19,586) (25,093)
22,858 8,259 (9,151)
126,740 231,379 174,110

566,263 693,003 693,003
693,003 924,382 867,113

(unidades)
Lojas Monobrand - DTC (Direct to Consumer)

Havaianas Brasil
Franquias
Próprias
Havaianas Internacional
Franquias
Próprias
Osklen
Franquias
Próprias Globais
1T20 2T20 3T20
(unit)
1Q20 2Q20 3Q20
Monobrand Stores - DTC (Direct to Consumer) 758 784 777
Havaianas Brazil 477 449 449

Franchises 471 444 444
Own stores 6 5 5
Havaianas International 201 256 254
Franchises 141 189 182
Own stores 60 67 72
Osklen 80 79 74
Franchises 21 22 22
Global own stores 59 57 52
4T20 1T21 2T21
4Q20 1Q21 2Q21
759 757 841
500 487 492
495 482 486
5 5 6
188 199 276
154 167 240
34 32 36
71 71 73
22 24 26
49 47 47
→ TABELAS - HISTÓRICO (DE 2010 ATÉ 2020) / TABLES - TRACK RECORD (2010-2020)
VOLUMES (VOLUME)
DRE POR REGIÃO (STATEMENT P/ REGION)
RL BREAK (NET REVENUE BREAKDOWN)
0-2020)
RESULTADO OPERACIONAL / OPERATING RESULTS
(Em milhões de unidades) / (in millions of units)
VOLUME DE VENDAS
OPERAÇÕES NACIONAIS
Havaianas + Dupé
Mizuno
Osklen***
OPERAÇÕES INTERNACIONAIS
Havaianas*
Outros**
CONSOLIDADO
Havaianas + Dupé
Mizuno
Osklen***
Outros**
4
Exclui operações descontinuadas / Excludes discontinued operations
³ Início da consolidação da Osklen no 4T14 / Consolidation of Osklen as of 4Q14
² Alteração Argentina 2013 a partir do 1T14 / Changes of 2013 Argentina's volumes as of 1Q14
¹ No 2T14 ajustamos o volume reportado no 2T13 de sandálias vendidos em Dupé Europa, em 51.435 p
In 2Q14 volume released in 2Q13 was asjusted - less 51,435 pairs of sandals sold in Dupé Europe
1T10
SALES VOLUME
1Q10
DOMESTIC BUSINESSES 49.2
Havaianas + Dupé 45.9
Mizuno 3.3
Osklen***
INTERNATIONAL BUSINESSES 9.2
Havaianas* 6.7
Other** 2.5
CONSOLIDATED 58.4
Havaianas + Dupé 52.6
Mizuno 5.8
Osklen***
Other**
en as of 4Q14
entina's volumes as of 1Q14
ndidos em Dupé Europa, em 51.435 pares a menos que o divulgado na ocasião

irs of sandals sold in Dupé Europe
2T10 1S10 3T10 4T10 1T11
2010
2Q10 1H10 3Q10 4Q10 1Q11
44.3 93.5 55.9 57.8 207.2 51.1
39.7 85.6 51.5 53.0 190.1 47.8
4.6 7.9 4.4 4.8 17.1 3.3
10.0 19.2 8.7 8.9 36.8 10.1

7.5 14.2 6.1 5.9 26.2 7.6
2.5 5.0 2.6 3.0 10.6 2.5
54.3 112.7 64.6 66.7 244.0 61.2
47.2 99.8 57.6 58.9 216.3 55.4
7.1 12.9 7.0 7.8 27.7 5.8
2T11 1S11 3T11 4T11 1T12
2011
2Q11 1H11 3Q11 4Q11 1Q12
47.0 98.1 57.0 56.3 211.4 56.3
42.4 90.2 52.5 51.9 194.6 53.1
4.6 7.9 4.5 4.4 16.8 3.2
10.6 20.7 8.7 8.8 38.2 9.6

8.3 15.9 6.0 6.1 28.0 7.7
2.3 4.8 2.7 2.7 10.2 1.9
57.6 118.8 65.7 65.1 249.6 65.9
50.7 106.1 58.5 58.0 222.6 60.8
6.9 12.7 7.2 7.1 27.0 5.1
2T12 1S12 3T12 4T12 1T13
2012
2Q12 1H12 3Q12 4Q12 1Q13
51.3 107.6 56.8 62.3 226.7 53.9
47.0 100.1 52.4 57.4 209.9 50.5
4.3 7.5 4.4 4.9 16.8 3.4
12.5 22.1 8.0 8.4 38.6 12.6

10.5 18.2 5.8 6.4 30.4 10.9
2.0 3.9 2.2 2.0 8.2 1.7
63.8 129.7 64.8 70.7 265.3 66.5
57.5 118.3 58.2 63.8 240.3 61.4
6.3 11.4 6.6 6.9 25.0 5.1
2T13 1S13 3T13 4T13 1T14
2013
2Q13 1H13 3Q13 4Q13 1Q14
52.0 105.9 53.6 68.8 228.3 53.9
47.2 97.7 48.9 63.6 210.3 50.4
4.8 8.2 4.7 5.2 18.0 3.5
12.1 24.7 7.8 9.4 41.9 12.2

10.1 21.0 5.6 6.9 33.5 10.0
2.0 3.7 2.2 2.5 8.4 2.2
64.1 130.6 61.4 78.2 270.2 66.1
57.3 118.7 54.5 70.5 243.8 60.4
6.8 11.9 6.9 7.7 26.4 5.7
1T144 2T14 2T144 1S14 3T14 3T144
1Q144 2Q14 2Q144 1H14 3Q14 3Q144
52.7 48.2 46.4 102.2 60.9 59.4
50.4 43.7 43.7 94.2 56.4 56.4
2.3 4.5 2.7 8.0 4.5 3.0
12.2 13.3 13.3 25.5 9.5 9.5

10.0 11.4 11.4 21.4 7.1 7.1
2.2 1.9 1.9 4.1 2.4 2.4
64.9 61.5 59.7 127.7 70.4 68.9
60.4 55.1 55.1 115.6 63.5 63.5
4.5 6.4 4.6 12.1 6.9 5.4
4T14 4T144 1T15 1T154 2T15
2014
4Q14 4Q144 1Q15 1Q154 2Q15
72.5 70.9 235.6 51.0 50.1 40.8
67.4 67.4 218.0 48.2 48.2 36.9
4.6 3.0 17.1 2.5 1.6 3.6
0.5 0.5 0.5 0.3 0.3 0.3
8.7 8.7 43.6 11.7 11.7 11.9
6.4 6.4 34.8 9.8 9.8 10.0
2.3 2.3 8.8 1.9 1.9 1.9
81.2 79.6 279.2 62.7 61.8 52.7
73.8 73.8 252.8 58.0 58.0 46.9
6.9 5.3 25.9 4.4 3.5 5.5
0.5 0.5 0.5 0.3 0.3 0.3
2T154 1S15 3T15 3T154 4T154
20154
2Q154 1H15 3Q15 3Q154 4Q154
39.6 91.8 60.6 59.5 63.3 212.5
36.9 85.1 57.1 57.1 60.7 202.9
2.4 6.1 3.1 2.0 2.0 8.0
0.3 0.6 0.4 0.4 0.6 1.6
11.9 23.6 10.2 10.2 8.6 42.4
10.0 19.8 7.9 7.9 6.5 34.2
1.9 3.8 2.3 2.3 2.1 8.2
51.5 115.4 70.8 69.7 71.9 254.9
46.9 104.9 65.0 65.0 67.2 237.1
4.3 9.9 5.4 4.3 4.1 15.7
0.3 0.6 0.4 0.4 0.6 1.6
1T164 1T164 2T164 1S164 3T164 4T164
1Q164 1Q164 2Q164 1H164 3Q164 4Q164
54.4 54.3 48.4 102.7 59.3 71.5
52.7 52.7 46.6 99.3 57.6 69.4
1.4 1.3 1.5 2.8 1.3 1.5
0.3 0.3 0.3 0.6 0.4 0.6
10.5 10.5 10.4 20.9 7.0 7.3
8.9 8.9 8.8 17.7 5.2 5.6
1.6 1.6 1.6 3.2 1.8 1.7
64.9 64.8 58.9 123.7 66.3 78.8
61.6 61.6 55.4 117.0 62.8 75.0
3.0 2.9 3.2 6.1 3.1 3.2
0.3 0.3 0.3 0.6 0.4 0.6
1T174 2T174 1S174 3T174 4T174
20164
1Q174 2Q174 1H174 3Q174 4Q174
233.5 37.1 34.9 72.0 56.0 66.1
226.3 35.8 33.2 69.0 54.1 63.7
5.6 1.0 1.4 2.4 1.5 1.8
1.6 0.3 0.3 0.6 0.4 0.6
35.2 10.8 11.4 22.2 6.5 8.3
28.5 9.2 9.8 19.0 4.7 6.5
6.7 1.6 1.6 3.2 1.8 1.8
268.8 47.9 46.3 94.2 62.5 74.4
254.8 45.0 43.0 88.0 58.8 70.2
12.4 2.6 3.0 5.6 3.3 3.6
1.6 0.3 0.3 0.6 0.4 0.6
1T184 2T184 1S184 3T184 4T184
20174
1Q184 2Q184 1H184 3Q184 4Q184
194.3 49.2 41.9 91.1 55.2 74.0
186.9 47.7 40.3 88.0 53.7 71.9
5.8 1.2 1.3 2.5 1.2 1.5
1.6 0.3 0.3 0.6 0.4 0.6
37.1 9.2 9.4 18.6 6.7 8.9
30.3 7.3 7.7 15.1 5.0 7.2
6.8 1.9 1.7 3.6 1.7 1.7
231.4 58.4 51.3 109.8 61.9 82.9
217.2 55.0 48.1 103.1 58.7 79.1
12.6 3.1 3.0 6.1 2.8 3.2
1.6 0.3 0.3 0.6 0.4 0.6
1T194 2T194 3T194 4T194
20184 20194
1Q194 2Q194 3Q194 4Q194
220.4 50.8 44.2 57.4 72.1 223.2
213.6 49.5 42.7 56.1 70.3 218.1
5.1 0.9 1.2 0.8 1.1 3.3
1.6 0.4 0.3 0.5 0.6 1.8
34.2 9.0 10.4 10.5 6.8 28.9
27.3 7.5 8.9 5.7 6.6 28.1
7.0 1.5 1.5 4.7 0.2 0.8
254.6 59.9 54.6 67.8 78.8 252.0
240.9 57.0 51.6 61.9 76.9 246.2
12.1 0.9 1.2 0.8 1.1 3.3
1.6 0.4 0.3 0.5 0.6 1.8
1.5 1.5 4.7 0.2 0.8
1T204 2T204 3T204 4T204
20204
1Q20 2Q204 3Q204 4Q204
44.1 31.1 63.6 75.0 213.0
43.2 31.0 63.2 74.3 211.4
0.6 - - - -
0.3 0.1 0.3 0.7 1.5
5.9 6.5 4.8 5.4 22.5
5.8 6.3 4.8 5.4 22.3
0.1 0.1 - - 0.3
50.0 37.6 68.3 80.4 235.5
49.0 37.3 68.0 79.7 233.7
0.6 - - - -
0.3 0.1 0.3 0.7 1.5
0.1 0.1 - - 0.3
DEMONSTRAÇÃO DO RESULTADO POR REGIÃO / INCOME STATEMENT BY REGION
(Em milhares de reais) / (in thousands of Brazilian reais)
Principais Indicadores Financeiros

(R$ milhões, exceto margens)
RECEITA LÍQUIDA
BRASIL
INTERNACIONAL
ARGENTINA
LUCRO BRUTO
BRASIL
INTERNACIONAL
ARGENTINA
MARGEM BRUTA
BRASIL
INTERNACIONAL
ARGENTINA
EBITDA
BRASIL
INTERNACIONAL
ARGENTINA
MARGEM EBITDA
BRASIL
INTERNACIONAL
ARGENTINA
LUCRO LÍQUIDO
MARGEM LÍQUIDA
¹ Exclui Topper e Rainha / Excludes Topper and Rainha
² Exclui operações descontinuadas / Excludes discontinued operations
³ A partir do 1T17 não publicamos mais EBITDA ajustado, ou seja, este fica apurado estritamen
In 1Q17, we stopped reporting adjusted EBITDA, i.e. EBITDA is strictly calculated in accordan
4
Reclassificação de despesas da Osklen / Reclassification of Osklen expenses
ÃO / INCOME STATEMENT BY REGION
reais)
Consolidated Financial Indicators 1T10 2T10

(R$ million, except margins) 1Q10 2Q10
NET REVENUE 499.6 540.3
BRAZIL 351.8 368.6
INTERNATIONAL 62.0 69.1
ARGENTINA 85.8 102.6
Gross Profit 241.4 246.0

BRAZIL 178.6 172.8
ARGENTINA 24.5 27.8
Gross Margin 48.3% 45.5%

BRAZIL 50.8% 46.9%
INTERNATIONAL 61.8% 65.7%
ARGENTINA 28.5% 27.1%
EBITDA 102.3 87.2

BRAZIL 78.4 71.3
ARGENTINA 11.2 10.3
EBITDA Margin 20.5% 16.1%

BRAZIL 22.3% 19.3%
INTERNATIONAL 20.5% 8.1%
ARGENTINA 13.1% 10.0%
NET INCOME 69.8 85.8
CONSOLIDATED NET MARGIN 14.0% 15.9%

continued operations
justado, ou seja, este fica apurado estritamente conforme CVM 527
, i.e. EBITDA is strictly calculated in accordance with CVM Instruction 527.
sification of Osklen expenses
3T10 4T10 1T11 2T11 3T11
3Q10 4Q10 2010 1Q11 2Q11 3Q11
580.6 628.3 2,231.9 554.6 629.8 686.6
432.9 478.2 1614.5 377.3 433.4 512.1
40.0 35.1 206.2 70.6 81.4 46.5
107.7 115.0 411.2 106.7 115.0 128.0
260.0 275.4 1,018.1 259.1 286.4 313.0

209.6 222.2 778.4 187.9 207.6 254.5
21.4 20.8 126.0 41.3 49.4 21.8
29.0 32.4 113.7 29.9 29.4 36.7
44.8% 43.8% 45.6% 46.7% 45.5% 45.6%

48.4% 46.5% 48.2% 49.8% 47.9% 49.7%
53.4% 59.5% 61.1% 58.4% 60.7% 46.8%
26.9% 28.2% 27.7% 28.0% 25.5% 28.7%
114.9 95.9 400.3 105.8 102.5 108.6

106.9 88.1 344.7 78.2 81.2 103.0
-5.8 -9.0 3.5 13.3 9.5 -10.3
13.8 16.8 52.1 14.3 11.8 15.9
19.8% 15.3% 17.9% 19.1% 16.3% 15.8%

24.7% 18.4% 21.3% 20.7% 18.7% 20.1%
-14.5% -25.7% 1.7% 18.8% 11.7% -22.1%
12.8% 14.6% 12.7% 13.4% 10.3% 12.4%
81.3 69.5 303.1 87.3 73.9 87.5
14.0% 11.1% 13.6% 15.7% 11.7% 12.7%

4T11 1T12 2T12 3T12 4T12
4Q11 2011 1Q12 2Q12 3Q12 4Q12
703.7 2,574.7 648.9 727.3 794.2 836.6
536.2 1858.8 462.5 464.9 582.3 652.6
39.8 236.4 76.9 125.1 62.6 55.8
127.7 477.5 109.5 137.3 149.3 128.2
295.4 1,153.9 287.7 313.3 322.1 349.7

247.1 905.3 214.4 205.0 257.0 292.3
15.1 119.4 42.4 76.1 31.0 24.2
33.2 129.2 30.9 32.2 34.1 33.2
42.0% 44.8% 44.3% 43.1% 40.6% 41.8%

46.1% 48.7% 46.4% 44.1% 44.1% 44.8%
38.0% 50.1% 55.1% 60.8% 49.5% 43.5%
26.0% 27.1% 28.2% 23.4% 22.9% 25.9%
87.6 404.5 106.5 74.4 103.3 129.5

89.1 351.5 83.3 40.5 95.8 127.5
-12.6 -0.1 11.3 25.6 -0.8 -3.1
11.1 53.1 11.9 8.3 8.3 5.1
12.4% 15.7% 16.4% 10.2% 13.0% 15.5%

16.6% 18.9% 18.0% 8.7% 16.5% 19.5%
-31.6% 0.0% 14.7% 20.5% -1.3% -5.6%
8.7% 11.1% 10.9% 6.0% 5.6% 4.0%
58.8 307.4 78.2 61.4 74.1 66.3
8.4% 11.9% 12.0% 8.4% 9.3% 7.9%

1T13 2T13 3T13 4T13
2012 1Q13 2Q13 3Q13 4Q13 2013
3,007.0 764.9 831.1 865.0 964.9 3,426.0
2162.3 522.6 548.8 613.8 732.6 2417.8
320.4 132.7 123.4 75.0 73.2 404.3
524.3 109.6 158.9 176.2 159.1 603.9
1,272.8 338.4 352.1 354.2 375.7 1,420.6

965.4 236.8 238.8 274.9 306.1 1056.7
177.0 80.9 77.8 46.1 38.6 243.4
130.3 20.7 35.5 33.2 31.0 120.5
42.3% 44.3% 42.4% 41.0% 38.9% 41.5%

44.7% 45.3% 43.5% 44.8% 41.8% 43.7%
55.2% 61.0% 63.0% 61.4% 52.7% 60.2%
24.9% 18.9% 22.3% 18.9% 19.5% 20.0%
413.7 122.8 130.7 104.7 136.2 494.4

347.1 87.5 97.1 97.1 131.4 413.1
33.0 38.3 21.2 -2.2 -0.9 56.4
33.6 -3.0 12.4 9.8 5.7 24.9
13.8% 16.1% 15.7% 12.1% 14.1% 14.4%

16.1% 16.7% 17.7% 15.8% 17.9% 17.1%
10.3% 28.9% 17.2% -2.9% -1.2% 14.0%
6.4% -2.7% 7.8% 5.6% 3.6% 4.1%
280.0 92.3 70.5 74.5 72.7 310.0
9.3% 12.1% 8.5% 8.6% 7.5% 9.0%

1T14 1T14¹ 2T14 2T14¹ 3T14 3T14¹
1Q14 1Q14¹ 2Q14 2Q14¹ 3Q14 3Q14¹
873.1 840.2 874.3 821.9 903.8 861.5
569.4 536.5 550.9 498.5 639.7 597.4
161.2 161.2 178.3 178.3 86.9 86.9
142.5 142.5 145.1 145.1 177.2 177.2
368.6 361.0 354.9 341.2 340.8 330.0

228.7 221.2 201.8 188.1 243.0 232.3
104.9 104.9 118.2 118.2 50.9 50.8
34.9 34.9 34.9 34.9 46.9 46.9
42.2% 43.0% 40.6% 41.5% 37.7% 38.3%

40.2% 41.2% 36.6% 37.7% 38.0% 38.9%
65.1% 65.1% 66.3% 66.3% 58.5% 58.5%
24.5% 24.5% 24.0% 24.1% 26.5% 26.5%
139.1 144.3 73.3 74.7 105.1 106.7

71.1 76.3 11.5 12.9 85.0 86.6
55.0 55.0 47.0 47.0 -5.0 -5.0
13.0 13.0 14.8 14.8 25.1 25.1
15.9% 17.2% 8.4% 9.1% 11.6% 12.4%

12.5% 14.2% 2.1% 2.6% 13.3% 14.5%
34.1% 34.1% 26.4% 26.4% -5.8% -5.8%
9.1% 9.1% 10.2% 10.2% 14.2% 14.2%
116.6 119.9 22.8 23.8 55.9 57.5
13.4% 14.3% 2.6% 2.9% 6.2% 6.7%

4T14 4T14 4T14¹ 1T15
4Q14 4Q14 4Q14¹ 2014 2014¹ 1Q15
1,060.0 1,060.0 1,014.4 3,711.2 3,538.0 948.9
806.0 806.0 760.4 2566.0 2392.8 560.9
74.4 74.4 74.4 500.8 500.8 190.5
179.6 179.6 179.6 644.4 644.4 197.5
433.9 433.9 419.2 1,498.2 1,451.4 423.5

347.6 347.6 332.9 1021.1 974.5 242.8
38.5 38.5 38.5 312.5 312.4 124.9
47.8 47.8 47.8 164.6 164.5 55.8
40.9% 40.9% 42.2% 40.4% 41.0% 44.6%

43.1% 43.1% 43.8% 39.8% 40.7% 43.3%
51.8% 51.8% 51.7% 62.4% 62.4% 65.6%
26.6% 26.6% 26.6% 25.5% 25.5% 28.2%
153.1 153.1 151.9 470.5 477.6 161.0

140.4 140.4 139.2 307.9 315.0 72.6
-6.1 -6.1 -6.1 90.9 90.9 64.4
18.8 18.8 18.8 71.7 71.7 24.0
14.4% 14.4% 15.0% 12.7% 13.5% 17.0%

17.4% 17.4% 18.3% 12.0% 13.2% 12.9%
-8.2% -8.2% -8.2% 18.2% 18.2% 33.8%
10.5% 10.5% 10.5% 11.1% 11.1% 12.1%
84.9 84.9 83.6 280.2 284.8 99.2
8.0% 8.0% 8.2% 7.5% 8.0% 10.5%

1T15¹ 1T15² 2T15 2T15¹ 2T15² 3T15
1Q15¹ 1Q15² 2Q15 2Q15¹ 2Q15² 3Q15
925.5 907.7 996.9 959.0 933.9 1,146.8
537.5 519.6 544.4 506.5 481.3 702.8
190.5 190.5 218.2 218.2 218.2 148.6
197.5 197.6 234.3 234.3 234.4 295.4
419.4 412.1 411.5 403.7 393.4 467.6

238.7 231.4 197.2 189.4 179.1 284.6
124.9 124.9 149.7 149.7 149.7 97.9
55.8 55.8 64.6 64.6 64.6 85.1
45.3% 45.4% 41.3% 42.1% 42.1% 40.8%

44.4% 44.5% 36.2% 37.4% 37.2% 40.5%
65.6% 65.6% 68.6% 68.6% 68.6% 65.9%
28.2% 28.2% 27.5% 27.6% 27.5% 28.8%
166.4 166.3 102.7 105.7 103.6 148.7

78.0 77.9 12.3 15.3 13.2 86.2
64.4 64.4 58.8 58.8 58.8 22.3
24.0 24.0 31.6 31.6 31.6 40.2
18.0% 18.3% 10.3% 11.0% 11.1% 13.0%

14.5% 15.0% 2.3% 3.0% 2.7% 12.3%
33.8% 33.8% 27.0% 27.0% 26.9% 15.0%
12.1% 12.1% 13.5% 13.5% 13.5% 13.6%
102.7 103.4 46.0 48.0 46.7 79.3
11.1% 11.4% 4.6% 5.0% 4.9% 6.9%

3T15¹ 3T15² 4T15¹ 4T15²
3Q15¹ 3Q15² 4Q15¹ 4Q15² 2015¹ 2015²
1,109.9 1,085.2 1,131.7 1,111.9 4,126.1 4,038.6
665.9 641.2 730.9 711.1 2440.8 2353.3
148.6 148.6 109.4 109.4 666.7 666.6
295.4 295.4 291.4 291.4 1018.6 1018.7
458.6 448.9 477.8 470.7 1,759.5 1,725.1

275.6 265.9 322.1 315.0 1025.8 991.4
97.9 97.9 67.2 67.2 439.8 439.8
85.1 85.1 88.5 88.5 293.9 293.9
41.3% 41.4% 42.2% 42.3% 42.6% 42.7%

41.4% 41.5% 44.1% 44.3% 42.0% 42.1%
65.9% 65.9% 61.4% 61.4% 66.0% 66.0%
28.8% 28.8% 30.4% 30.4% 28.9% 28.9%
150.7 148.9 144.3 144.6 567.1 563.4

88.2 86.4 94.9 95.2 276.4 272.7
22.3 22.3 4.8 4.8 150.3 150.3
40.2 40.2 44.6 44.6 140.4 140.4
13.6% 13.7% 12.8% 13.0% 13.7% 14.0%

13.2% 13.5% 13.0% 13.4% 11.3% 11.6%
15.0% 15.0% 4.4% 4.4% 22.5% 22.5%
13.6% 13.6% 15.3% 15.3% 13.8% 13.8%
80.9 76.4 55.4 49.7 287.0 263.2
7.3% 7.4% 4.9% 4.5% 7.0% 6.5%

1T16¹ 1T16² 1T16³ 2T16² 2T16³ 3T16²
1Q16¹ 1Q16² 1Q16³ 2Q16² 2Q16³ 3Q16²
1,011.6 993.8 993.8 1,011.9 1,011.9 982.8
578.1 560.3 560.3 570.5 570.5 678.2
235.7 235.7 235.7 220.0 220.0 110.4
197.8 197.8 197.8 221.4 221.4 194.2
486.2 479.2 479.2 447.4 447.4 418.6

258.6 251.6 251.6 227.8 227.8 297.2
165,0 165.0 165.0 156.9 156.9 73.5
62.6 62.6 62.6 62.7 62.7 47.9
48.1% 48.2% 48.2% 44.2% 44.2% 42.6%

44.7% 44.9% 44.9% 39.9% 39.9% 43.8%
70.0% 70.0% 70.0% 71.3% 71.3% 66.6%
31.6% 31.6% 31.6% 28.3% 28.3% 24.6%
191.8 192.4 189.2 108.1 112.8 128.6

76.2 76.8 73.0 38.5 45.4 105.7
86.6 86.6 85.8 43.0 42.1 3.3
29.0 29.0 30.4 26.6 25.3 19.6
19.0% 19.4% 19.0% 10.7% 11.1% 13.1%

13.2% 13.7% 13.0% 6.7% 8.0% 15.6%
36.7% 36.7% 36.4% 19.5% 19.1% 3.0%
14.7% 14.7% 15.4% 12.0% 11.4% 10.1%
118.4 118.6 110.9 61.2 61.4 84.5
11.7% 11.9% 11.2% 5.9% 6.0% 8.6%

4T16² 2016² 1T17² 1T17³ 2T17² 3T17²
4Q16² 2016² 1Q17² 1Q17³ 2Q17² 3Q17²
1,065.9 4,054.4 807.5 807.5 859.6 951.2
828.1 2637.1 466.1 466.1 445.7 670.6
78.5 644.6 187.3 187.3 236.5 108.4
159.3 772.7 154.1 154.1 177.4 172.2
455.1 1,800.3 351.2 350.2 391.4 414.1

377.8 1154.4 194.9 193.9 186.6 308.4
44.5 440.0 119.2 119.2 162.5 72.8
32.8 205.9 37.1 37.1 42.3 32.9
42.7% 44.4% 43.5% 43.4% 45.5% 43.5%

45.6% 43.8% 41.8% 41.6% 41.9% 46.0%
56.7% 68.3% 63.7% 63.7% 68.7% 67.2%
20.6% 26.6% 24.1% 24.1% 23.9% 19.1%
166.7 595.8 247.9 247.9 72.6 109.0

167.7 388.7 201.4 201.4 15.6 99.4
-8.8 124.1 50.8 50.8 47.6 -1.4
7.8 83.0 -4.3 -4.3 9.4 11.0
15.6% 14.7% 30.7% 30.7% 8.4% 11.5%

20.3% 14.7% 43.2% 43.2% 3.5% 14.8%
-11.2% 19.3% 27.1% 27.1% 20.1% -1.3%
4.9% 10.7% -2.8% -2.8% 5.3% 6.4%
102.6 358.4 179.8 179.7 54.4 71.3
9.6% 8.8% 22.3% 22.3% 6.3% 7.5%

4T17² 1T18 2T18 3T18 4T18
4Q17² 2017² 1Q18 2Q18 3Q18 4Q18
1,103.6 3,721.9 902.1 890.6 930.8 1,199.8
836.8 2419.2 572.9 483.5 668.6 944.9
105.9 638.1 179.1 247.4 146.8 136.9
160.9 664.6 150.1 159.7 115.3 118.0
483.9 1,639.6 408.8 417.9 404.2 508.9

402.3 1091.3 263.9 205.1 292.7 418.9
58.6 413.1 116.4 174.8 100.7 81.3
23.0 135.2 28.5 37.9 10.8 8.6
43.8% 44.1% 45.3% 46.9% 43.4% 42.4%

48.1% 45.1% 46.1% 42.4% 43.8% 44.3%
55.3% 64.7% 65.0% 70.7% 68.6% 59.4%
14.3% 20.3% 19.0% 23.8% 9.3% 7.3%
56.7 486.2 169.1 64.1 229.7 123.6

57.1 372.9 81.1 25.3 294.7 162.7
2.0 99.6 42.0 43.8 -6.1 -4.8
-2.4 13.7 46.0 -5.1 -58.7 -34.4
5.1% 13.1% 18.7% 7.2% 24.7% 10.3%

6.8% 15.4% 14.2% 5.2% 44.1% 17.2%
1.9% 15.6% 23.5% 17.7% -4.2% -3.5%
-1.5% 2.1% 30.6% -3.2% -50.9% -29.1%
45.1 350.6 112.8 18.3 119.8 92.4
4.1% 9.4% 12.5% 2.1% 12.9% 7.7%

1T19 2T19 3T19 4T19
2018 1Q19 2Q19 3Q19 4Q19 2019
3,904.5 940.2 993.4 1,036.9 1,142.7 3,712.2
2669.9 611.0 563.8 741.6 1008.8 2925.2
710.3 208.0 282.9 162.1 133.9 786.9
524.3 121.2 146.7 133.2 - -
1,712.8 426.4 453.8 480.3 579.3 1,866.9

1180.5 268.3 234.7 336.0 501.4 1340.4
473.3 141.7 196.8 110.1 77.9 526.5
59.0 16.5 22.3 34.1 - -
43.9% 45.4% 45.7% 46.3% 50.7% 50.3%

44.2% 43.9% 41.6% 45.3% 49.7% 45.8%
66.6% 68.1% 69.6% 67.9% 58.2% 66.9%
11.3% 13.6% 15.2% 25.6% - -
564.7 134.4 98.0 150.3 214.5 588.3

561.2 86.9 36.7 117.6 237.3 478.5
77.6 50.4 66.5 15.7 -22.8 109.8
-74.1 -2.8 -5.2 17.0 - -
14.5% 14.3% 9.9% 14.5% 18.8% 15.8%

21.0% 14.2% 6.5% 15.9% 23.5% 16.4%
10.9% 24.2% 23.5% 9.7% -17.0% 13.9%
-14.1% -2.3% -3.5% 12.8% - -
324.0 43.5 31.6 58.5 128.0 259.3
8.3% 4.6% 3.2% 5.6% 11.2% 7.0%

1T20 2T20 3T20² 4T20² 2020²
1Q20 2Q20 3Q20² 4Q20² 2020²
747.0 680.5 943.5 1,102.5 3,364.3
549.5 364.5 727.4 952.0 2,484.4
197.5 316.0 216.0 150.5 879.9
- - - - -
360.7 360.8 493.6 576.1 1,760.8

244.8 142.0 351.9 495.3 1,203.8
116.0 218.8 141.7 80.7 557.0
- - - - -
48.3% 53.0% 52.3% 52.3% 52.3%

44.5% 39.0% 48.4% 52.0% 48.5%
58.7% 69.2% 65.6% 53.6% 63.3%
- - - - -
- 8.8 132.2 141.1 153.9 435.9

- 33.3 59.8 138.7 234.9 417.8
24.5 72.4 2.4 - 81.0 18.1
- - - - -
-1.2% 19.4% 15.0% 14.0% 13.0%

-6.1% 16.4% 19.1% 24.7% 16.8%
12.4% 22.9% 1.1% -53.8% 2.1%
- - - - -
23.3 44.5 -2.6 61.7 126.9
3.1% 6.5% -0.3% 5.6% 3.8%

RECEITA LÍQUIDA | BREAKDOWN / NET REVENUE BREAKDOWN
(Em milhares de reais) / (in thousands of Brazilian reais)
Receita Líquida | BREAKDOWN DE VAREJO (%)
RECEITA LÍQUIDA
OPERAÇÕES NACIONAIS
Havaianas
Artigos Esportivos
Osklen**
OPERAÇÕES INTERNACIONAIS
Alpargatas Argentina
Artigos Esportivos
Têxteis
Alpargatas USA, Europa e Exportações
¹ Exclui Topper e Rainha / Excludes Topper and Rainha

² Osklen consolidada nos negócios nacionais a partir do 4T14 (eventuais diferenças entre receitasocorrem
Osklen was included in domestic business as of 4Q14
³ Exclui operações descontinuadas / Excludes discontinued operations
NUE BREAKDOWN
reais)
1T10 2T10
BREAKDOWN (%)
1Q10 2Q10
CONSOLIDATED NET REVENUE 502.2 541.3

DOMESTIC BUSINESS 354.4 369.6
Havaianas 70% 54%
Sporting Goods 30% 46%
Osklen² - -
INTERNATIONAL BUSINESS 147.8 171.7
Alpargatas Argentina 85.8 102.6
Footwear 72% 66%
Textiles 28% 34%
Alpargatas USA, Europe and Exports 62.0 69.1
T14 (eventuais diferenças entre receitasocorrem da diferença entre visão gerencial vs societária)
d operations
3T10 4T10 1T11 2T11 3T11
3Q10 4Q10 2010 1Q11 2Q11 3Q11
580.9 619.0 2,243.5 587.3 611.0 688.1

433.2 468.9 1,626.2 410.0 414.5 513.6
66% 67% 64% 67% 54% 64%
34% 33% 36% 33% 46% 36%
- - - - - -
147.7 150.1 617.3 177.3 196.5 174.5
107.7 115.0 411.1 106.7 115.0 128.0
65% 70% 68% 71% 65% 68%
35% 30% 32% 29% 35% 32%
40.0 35.1 206.2 70.6 81.5 46.5
4T11 1T12 2T12 3T12 4T12
4Q11 2011 1Q12 2Q12 3Q12 4Q12
680.1 2,566.5 648.0 737.2 798.1 840.3

512.5 1,850.6 461.6 474.8 586.2 656.3
66% 63% 72% 61% 60% 63%
34% 37% 28% 39% 40% 37%
- - - - - -
167.6 715.9 186.4 262.4 211.9 184.0
127.8 477.5 109.5 137.3 149.3 128.2
69% 68% 68% 64% 65% 65%
31% 32% 32% 36% 35% 35%
39.8 238.4 76.9 125.1 62.6 55.8
1T13 2T13 3T13 4T13
2012 1Q13 2Q13 3Q13 4Q13 2013
3,023.6 762.4 833.5 865.0 965.6 3,426.7

2,178.9 520.1 551.2 613.8 733.3 2,418.5
64% 61% 50% 57% 61% 57%
36% 39% 50% 43% 39% 43%
- - - - - -
844.7 242.3 282.3 251.2 232.3 1,008.2
524.3 109.6 158.9 176.2 159.1 603.9
65% 65% 67% 65% 68% 66%
35% 35% 33% 35% 32% 34%
320.4 132.7 123.4 75.0 73.2 404.3
1T14 2T14 3T14 4T14 4T14¹
1Q14 2Q14 3Q14 4Q14 4Q14¹ 2014
873.7 874.8 903.8 1,062.0 1,014.4 3,714.3

570.0 551.4 639.7 808.0 760.4 2,569.1
60% 54% 61% 60% 55% 59%
40% 46% 39% 30% 23% 38%
- - - 10% 10% 3%
303.7 323.4 264.1 254.0 254.0 1,145.2
142.5 145.1 177.2 179.6 179.6 644.4
70% 66% 70% 70% 70% 69%
30% 34% 30% 30% 30% 31%
161.2 178.3 86.9 74.4 74.4 500.8
1T15 2T15 3T15 4T15¹
2014¹ 1Q15 2Q15 3Q15 4Q15¹ 2015¹
3,538.0 949.2 996.3 1,147.0 1,170.1 4,262.5

2,392.8 561.2 543.8 703.0 769.3 2,577.2
57% 64% 50% 66% 66% 62%
30% 29% 41% 26% 24% 29%
3% 8% 9% 7% 10% 8%
1,145.2 388.0 452.5 444.0 400.8 1,685.3
644.4 197.5 234.3 295.4 291.4 1,018.7
69% 70% 66% 68% 69% 68%
31% 30% 34% 32% 31% 32%
500.8 190.5 218.2 148.6 109.4 666.6
1T16 1T16³ 2T16³ 3T16³ 4T16³
1Q16 1Q16³ 2Q16³ 3Q16³ 4Q16³ 2016³
1,012.4 1,044.0 1,041.7 1,004.4 1,093.7 4,183.7

578.9 610.5 600.3 699.8 855.9 2,766.4
65% 69% 61% 73% 72% 69%
16% 24% 30% 19% 19% 22%
8% 7% 9% 8% 9% 8%
433.5 433.5 441.4 304.6 237.8 1,417.3
197.8 197.8 221.4 194.2 159.3 772.7
67% 67% 65% 66% 68% 66%
33% 33% 35% 34% 32% 34%
235.7 235.7 220.0 110.4 78.5 644.6
1T17³ 2T17³ 3T17³ 4T17³ 1T18³ 2T18³
1Q17³ 2Q17³ 3Q17³ 4Q17³ 2017³ 1Q18³ 2Q18³
830.0 873.0 949.7 1,105.9 3,758.7 902.1 890.6

488.6 459.1 669.1 839.1 2,456.0 572.9 483.5
64% 63% 74% 73% 70% 75% 70%
27% 26% 17% 18% 21% 17% 20%
9% 11% 9% 10% 9% 8% 10%
341.4 413.9 280.6 266.8 1,302.7 329.2 407.0
154.1 177.4 172.2 160.9 664.6 150.0 159.7
70% 70% 67% 71% 69% 76% 76%
30% 30% 33% 29% 31% 24% 24%
187.3 236.5 108.4 105.9 638.1 179.2 247.4
3T18³ 4T18³ 1T19³ 2T19³ 3T19³ 4T19³
3Q18³ 4Q18³ 2018³ 1Q19³ 2Q19³ 3Q19³ 4T19³
930.8 1,199.8 3,904.5 940.2 993.4 1,036.9 1,142.7

668.6 944.9 2,669.9 611.0 563.8 741.6 1,008.8
76% 75% 75% 74% 70% 76% 76%
15% 15% 15% 16% 19% 15% 15%
9% 10% 9% 10% 11% 9% 10%
262.1 254.9 1,234.6 329.2 429.6 295.3 133.9
115.3 118.0 524.3 121.2 146.7 133.2 -
78% 79% 77% 80% 77% 76% -
22% 21% 23% 20% 23% 24% -
146.8 136.9 710.3 208.0 282.9 162.1 133.9
1T20³ 2T20³ 3T20³ 4T20³
2019³ 1Q20 2Q20 3Q20³ 4Q20³ 2020³
3,712.2 747.0 680.5 943.5 1,102.5 3,364.3

2,925.2 549.5 364.5 727.4 952.0 2,484.4
75% 78% 84% 94% 89% 91%
16% 13% 12% - - -
10% 9% 4% 6% 11% 9%
786.9 197.5 316.0 216.0 150.5 879.9
- - - - - -
- - - - - -
- - - - - -
786.9 197.5 316.0 216.0 150.5 879.9

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ÍNDICE / CONTENT

→ TABELAS RELEASE (A PARTIR DO 1T20) / ER TABLES (AS OF 1Q20)

*Exclui os números de Mizuno em 2021 e 2020

1T20* 2T20* 3T20* 4T20*

1T20* 2T20* 3T20* 4T20*

*Exclui os números de Mizuno em 2021 e 2020

54.1 131.7 107.5

202.6 140.2 115.3

Receita líquida de vendas

Custo dos produtos vendidos

Receitas (Despesas) Operacionais

Honorários dos administradores

Amortização do diferido / intangível

Outras (despesas) receitas operacionais

EBIT - Resultado Operacional

Ganho/perda posição monetária líquida

I.R. e Contribuição Social

Resultado líquido das

Lucro Líquido Consolidado

* Exclui os numeros de Topper e Textil Argentina em 4T18, 2018, 4T19 e 2019

1T10 2T10 1S10

Net Sales 499,577 540,346 1,039,924

Cost of sales (258,176) (294,352) (552,529)

Gross Profit 241,401 245,994 487,395

gross margin 48.3% 45.5% 46.9%

Operating Income (Expenses) (159,817) (160,960) (320,777)

Selling (117,256) (140,054) (257,311)

General and administrative (30,812) (26,450) (57,263)

Management fees (1,139) (1,150) (2,288)

Amortization of intangible charges (4,292) (4,398) (8,691)

Other operating Income (expenses), net (6,317) 11,093 4,775

EBIT - Operating Results 81,584 85,034 166,618

operating margin 16.3% 15.7% 16.0%

Financial Result (1,747) (703) (2,450)

Gain/loss on net monetary position

Exchange variation (1,353) 1,917 565

Hedge operations (2,886) (647) (3,533)

Operating Income 75,598 85,602 161,200

Income and social contribution taxes (8,247) 1,221 (7,026)

Net Income from continuing operations 67,351 86,823 154,174

Net result from discontinued operations - - -

Consolidated net income 67,351 86,823 154,174

Minority Interest 471 1,396 1,868

EBITDA - R$ million 102.3 87.2 189.5

EBITDA margin 20.5% 16.1% 18.2%

ado, ou seja, este fica apurado estritamente conforme CVM 527

o, descritas na nota explicativa nº 2 do ITR de 30/06/2017

4T18, 2018, 4T19 e 2019

563,652 1,603,576 628,299 2,231,875 554,637 629,790

(308,377) (860,906) (352,878) (1,213,784) (295,542) (343,391)

255,275 742,670 275,421 1,018,091 259,095 286,399

45.3% 46.3% 43.8% 45.6% 46.7% 45.5%

(161,246) (482,023) (202,621) (684,644) (169,415) (204,447)

(124,114) (381,424) (157,979) (539,403) (129,933) (171,562)

(28,555) (85,817) (26,036) (111,853) (30,132) (33,687)

(1,130) (3,417) (5,121) (8,538) (1,374) (1,438)

(4,286) (12,978) (3,843) (16,821) (4,368) (5,100)

(3,162) 1,614 (9,642) (8,028) (3,608) 7,340

94,029 260,647 72,800 333,447 89,680 81,953

16.7% 16.3% 11.6% 14.9% 16.2% 13.0%

2,802 352 6,276 6,628 6,852 5,670

1,155 1,720 610 2,330 1,716 (1,019)

(3,193) (6,727) (2,495) (9,222) (1,297) 1,165