Português
Highest operating cash generation and net profit in the Company’s history,
with synergies captured and new businesses
Revenues: R$11.4 billion in 2023 (+12% vs. 2022), including results from MWM, of approximately R$2.3 billion. Impacted by the appreciation of the Brazilian real vs. the U.S. dollar on revenues in foreign currency (67% of the total) and the drop in physical sales volumes (-7%), resulting from the 38% reduction in truck production in Brazil and the performance of applications with greater sensitivity to interest rates abroad. Revenues from the Distribution and Energy & Decarbonization segments accounted for 30% of sales in the domestic market and 13% of total sales in 2023.
Operating cash generation: R$829 million in 2023 (+106% vs. 2022), reaching the highest level in the Company’s history. Performance resulting from management initiatives aimed at efficiency gains by optimizing the use of assets and reducing inventory.
Adjusted EBITDA of R$ 1.3 billion similar to 2022. Synergies captured, gains in operating efficiency, and initiatives to reduce cost and expenses partially mitigated the negative effects resulting from the appreciation of the Brazilian real and the Mexican Peso, in addition to the drop in production and sales volumes, all of which jointly impacted EBITDA in more than R$600 million in 2023.
Adjusted EBITDA Margin of 11.1%, against 12.5% in the previous year, affected by the factors previously mentioned and the inclusion of MWM’s results as of December 2022, impacting the comparison base.
Net Income: R$517 million in 2023, the highest ever reported, growing by 3% over 2022. The impact with the increase in financial expenses with the debentures issue for the acquisition of MWM was mitigated by tax credits arising from historical losses of the subsidiaries.
To access the Earnings Release, click here.