Português
Solid operational results despite a weak foreign market
and advancement on New Businesses
Highest cumulative operating cash flow in history
Revenues: R$ 2.8 billion in 3Q24 (-7% vs 3Q23). The depreciation of the Real and double-digit revenue growth at MWM mitigated the impact of a 5% to 30% reduction in physical sales volume in important segments, primarily due to lower demand for commercial vehicles in the foreign market and the performance of off-road applications. Revenues reached R$ 8.2 billion in 9M24 (-7% vs. 9M23).
Gross Profit: R$ 496 million (-5% vs 3Q23), with a margin of 17.9% (vs. 17.6% in the same period previous year). Favorable exchange rates and efficiency gains of R$ 40 million in the quarter mitigated the effect of the decline in sales volume. Gross Profit of R$ 1.5 billion in 9M24 (-1%), with a margin of 18.4% (vs 17.4% in 9M23).
Adjusted EBITDA: R$ 338 million (-8% vs 3Q23): with a margin of 12.2%, like the previous year (vs 12.3%), despite the additional impact of logistical bottlenecks, amounting to R$ 10 million. The Adjusted EBITDA in 9M24 reached R$ 1.0 billion (+3% vs 9M23), with a margin of 12.7% (vs 11.6% in the previous year).
Operating cash generation: R$ 227 million (vs R$ 359 million in 3Q23): The variation is due to lower sales volume and the depreciation of the Real, with impacts on the balance sheet items. In 9M24, operating cash flow reached R$ 762 million, a growth of 97%, all-time high cumulative value.
Net income: R$ 50 million (vs R$ 150 million in 3Q23). The variation in net driven by operational performance, increased financial expenses, and the impact of the Mexican Peso appreciation on the tax base. Accumulated net income in 2024 reached R$ 180 million, compared to R$ 357 million in 2023.
New businesses (i) highest revenues in the aftermarket business; (ii) commencement of operations at the Primato Bioplant; and (iii) announcement of a battery recycling demonstration plant.
To access the Earnings Release, click here.