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Execution of the strategic agenda.
Increase in margins and operational cash generation.
Revenues: R$2.8 billion in 2Q24 (-5% vs 2Q23). Drop in physical sales volumes due to the stabilization of demand for commercial vehicles and the performance of off-road applications.
Operating cash generation: R$413 million (vs. R$159 million in 2Q23), the highest level in the Company’s history in a second quarter. The performance was due to cost reductions, operational efficiency, and initiatives in working capital management.
EBITDA Margin: 14.1%, vs. 11.2% in 2Q23. Capture of synergies across all business areas.
Adjusted EBITDA: R$395 million, the highest ever (+19% vs. 2Q23). Synergies captured and reductions in costs and expenses offset the impacts from the drop in volumes.
Net Income: R$18 million (vs. R$62 million in 2Q23). The variation was due to the impact of exchange rates on mark-to-market of derivative instruments amounting to R$168 million, and the appreciation of the Mexican peso on the tax bases in foreign currency (R$66 million, vs positive figure of R$15 million in the previous year).
Announcement of new contracts for Manufacturing and Energy & Decarbonization segments, with expected revenues of more than R$200 million / year.
To access the Earnings Release, click here.