Votorantim Cimentos reports BRL22m net profits in 1Q21

Votorantim Cimentos ended the 1Q21 with net profit of BRL227m (US$42.8m), reversing the BRL380m loss posted in the 1Q20. 

The company's global net revenue in the first quarter of the year was BRL4bn, an advance of 46 per cent 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 7.6Mt in 1Q21, a 20 per cent growth compared to the 6.3Mt sold in the same period in 2020. 

Votorantim Cimentos ended the first quarter with adjusted EBITDA of BRL971m, an increase of 318 per cent compared to the 1Q20. 

Regional results
In Brazil Votorantim Cimentos' net revenue in the quarter was BRL2.2bn, an increase of 47 per cent compared to the 1Q20. Adjusted EBITDA was BRL594m, an increase of 433 per cent over the same quarter last year. 

In North America the company's net revenue was BRL815m in the first quarter of 2021, an increase of 29 per cent over 1Q20. Adjusted EBITDA was BRL42m in the first quarter of 2021, compared to negative BRL5 m in 1Q20.

In Europe, Africa and Asia, Votorantim Cimentos' net revenue was BRL814m, an increase of 72 per cent. Adjusted EBITDA increased 162 per cent, totalling BRL249m in the quarter.

In Latin America the company’s net revenue in the first quarter was BRL170m, an increase of 24 per cent compared to 1Q20, and the adjusted EBITDA was BRL86m, an increase of 185 per cent over the 1Q20.