Brazil's Votorantim posted BRL 7.2 billion ($2.4 billion) in net revenue in the fourth quarter of 2014 (Q4), ended on December 31, the company said in a release Tuesday.
The result is 7 percent higher than the BRL 6.8 billion ($2.3 billion) registered in the same period of 2013, as a result mainly due to higher prices in most of the company’s businesses.
Votorantim’s adjusted Ebtida in Q4 increased 17 percent to BRL 1.7 billion ($580.8 million), year-on-year. The company’s Ebtida margin increased 2.1 percent to 23.6 percent, while net income was BRL 581 million ($198.5 million), it reported.
Votorantim’s fiscal year 2014 (FY2014) results also showed improvements on a year-on-year basis.
Net revenues increased by 7 percent in FY2014 to BRL 28 billion ($9.56 billion). Net income jumped 606 percent to BRL 1.6 billion ($546.6 million), it reported.
For long steel, Votorantim said sales volume moved up in the first half of 2014, but subsequently felt back due to the “economic slowdown and higher imports.”
In Argentina, sales volumes remained flat in spite of the economic instability. Colombian’s “safeguard measure” remained in place for in 2014, “sustaining sales volumes,” Votorantim noted.
Votorantim’s metals and long steel business accounted for 30 and 6 percent, respectively, of the company’s gross revenues in 2014.
Net revenues for long steel in 2014 increased 5 percent to BRL 3.9 billion ($1.33 billion). Long steel sales volumes fell 1 percent to 1.8 billion mt, year-on-year.