Votorantim Cimentos sees net income rise by 57 per cent in 3Q21

Votorantim Cimentos posted net income of BRL1.1bn (US$200.5m) in the 3Q21, an increase of 57 per cent over the same period last year. 

The company had global net revenue of BRL6.4bn in the 3Q21, an increase of 24 per ent compared to the 3Q20, primarily due to an increase in sales volume and favourable price dynamics. Votorantim Cimentos' global cement sales totalled 10.4Mt in the 3Q21, a seven per cent increase compared to the 9.7Mt sold in the 3Q20. 

Votorantim Cimentos ended the 3Q21 with adjusted EBITDA of BRL1.7bn (an eight per cent growth compared to the 3Q20) and EBITDA margin of 26 per cent (down four percentage points on the 3Q20), as a result of cost inflation.

Leverage, measured by the net debt/adjusted EBITDA ratio, was 1.54x, down 0.42x compared to December 2020, in line with the company’s financial policy.