Barueri, July 28, 2020 - Smiles Fidelidade S.A. (B3: SMLS3), announces its results for 2Q20. To access the earnings release click here, and to access our Results Center, please click here.


bullet_1T17Total cash flow generation - R$ 328,4 million in 2Q20 - despite the strong effect of the Covid-19 pandemic.

bullet_1T1795% growth in air ticket issuance and 45% drop in cancellations between April and June 2020. By the end of the quarter, we had already reached about 50% of ticket issuances compared to the same period of 2019.

bullet_1T17Reduction of Gross Billings in the annual comparison of 53%, but with a clear upward bias throughout the quarter, with an evolution of 54.8% in the period between April and June. In June, Gross Billings reached 58% of the result recorded in the same month of 2019.

bullet_1T1768.8% increase in redemptions at Shopping Smiles between April and June.

bullet_1T17Drop of 48.8% in operating expenses, reflecting a constant discipline with costs and a lean structure, with a stable workforce of 148 employees.

bullet_1T17The Direct Redemption Margin increased 10.3 p.p. to 37% in 2Q20 versus 26.7% in 1Q20.

Conference Call

Call in Portuguese with simultaneous translation into English
July 29, 2020
10:00 a.m. (New York Time)
11:00 a.m.(Brasilia Time)

Conection Numbers
US: +1 (412) 717-9627

Brazil: +55 (11) 3181-8565 or +55 (11) 4210-1803

Webcast: click here.


André Fehlauer
Chief Executive Officer

Hugo Assumpção
Chief Financial and Investor Relations Officer

Maria Laura Pessoa
Investor Relations Manager

Phone: +55 (11) 4841-1820


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