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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.
Votorantim Cimentos and McInnis Cement to Combine Cement Operations in North America
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Joint venture between St. Marys Cement (Canada) and McInnis Cement to focus on expanding operations to supply cement across the Great Lakes region, Eastern Canada and the Northeastern Coast of the United States
Commitment to maintain facilities and jobs at the Port-Daniel–Gascons plant until at least 2029
Combined entity to deploy initiatives at Port-Daniel–Gascons plant to support carbon footprint reduction in the cement industry
TORONTO and QUEBEC and SÃO PAULO, Dec. 10, 2020 /PRNewswire/ - St. Marys Cement Inc. (Canada), a wholly owned subsidiary of Votorantim Cimentos, and McInnis Cement Inc. today announced that they will combine their assets to create a combined entity to manufacture, distribute and sell cement in Canada and the United States. The joint venture will be owned by Votorantim Cimentos International (VCI), the inte