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Votorantim Cimentos ended the first quarter of 2021 with net profit of R$227 million, reversing the R$380 million loss posted in 1Q2020. The company’s global net revenue in the first quarter of the year was R$4 billion, an increase of 46% in comparison to the same period in 2020, as a result of an increase in sales volume in all regions where it operates, combined with the positive impact of the devaluation of the real against foreign currencies in its international operations. The company’s global cement sales totalled 7.6 million t in 1Q2021, a 20% growth compared to the 6.3 million t sold in the same period in 2020.
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Votorantim Cimentos ended 2020 with global net revenue of R$16.7 billion, an increase of 29% compared to 2019. This result can be primarily explained by the increase in sales volume in Brazil, Canada and the United States, and by the positive impact of the devaluation of the real on the results of the other regions. Consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was R$3.8 billion, an increase of 43% over the previous year, with an EBITDA margin of 22.9%, an increase of 2.4 percentage points compared to 2019. At the end of 2020, the company’s leverage (net debt/EBITDA ratio) was 1.96x, the best result in the last ten years.