Votorantim S A and Votorantim Cimentos receive investment grade ratings from Moody s worldcement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldcement.com Daily Mail and Mail on Sunday newspapers.
Advertisement
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.
Votorantim Cimentos reports 2020 sales and earnings growth Written by Global Cement staff
14 April 2021
Brazil: Votorantim Cimentos’ consolidated net sales were US$6.41bn in 2020, up by 19% year-on-year from US$5.41bn in 2019. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) also rose, by 35% to US$1.21bn from US$899m. The group attributed the growth to increased cement volumes sold in Brazil, Canada and the US. Total global cement sales increased by 8% to 32.4Mt. Net revenue grew in all regions, but the sharpest growth was reported in North America at 43% to US$945m.
Chief financial officer Osvaldo Ayres Filho said, “The past year has been extremely challenging due to the pandemic and its impacts across the planet. We have implemented a contingency plan to protect people s lives and preserve operations. This allowed us to respond with agility both in Brazil and in the other markets
Votorantim ends 2020 with net revenue of BRL16.7bn 09 April 2021
Votorantim Cimentos ended 2020 with global net revenue of BRL16.7bn (US$2.98bn), an increase of 29 per cent compared to 2019. This result can be primarily explained by the increase in sales volume in Brazil, Canada and the USA, 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 BRL3.8bn, an increase of 43 per cent over the previous year, with an EBITDA margin of 22.9 per cent, 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 decade.