Votorantim Cimentos ended the 2Q22 with consolidated net revenue of BRL6.7bn (US$1.3m), an increase of 15 per cent compared to the same period last year.
This result was primarily due to favourable price dynamics, in addition to the positive impact of additional sales resulting from the acquisitions concluded in 2021, said Votorantim. The company’s global cement sales totalled 9.6Mt, down two per cent from the 2Q21.
Despite the challenging environment, the company demonstrated its operational resilience through cost management and pricing pass throughs. “As a result, our numbers in the second quarter of this year, despite being lower than 2Q21, were better in comparison with historical records, surpassing our results in 2020, 2019 and 2018,” said Marcelo Castelli, Global CEO of Votorantim Cimentos.
The company ended the 2Q22 with BRL1.4bn consolidated adjusted EBITDA, 12 per cent lower than the same period in 2021, primarily due to cost pressure in all regions, in addition to the negative impact of the exchange rate. The EBITDA margin in the quarter was 20 per cent, seven percentage points lower than 2Q21. Net Income in 2Q22 was BRL366m, 47 per cent lower than the same period last year.
