Votorantim increases net profit in Q2; long steel revenue up

Friday, 21 August 2015 01:50:15 (GMT+3)   |   Sao Paulo
       

Votorantim Industrial, the holding company that controls Votorantim’s metals, steel and non-ferrous businesses, registered a BRL 608 million net profit in Q2, 18 percent up, year-on-year, the company said this week.

Net revenues in the period rose 17 percent, year-on-year, to BRL 7.8 billion, while adjusted EBITDA totaled BRL 1.8 billion, 22 percent up, year-on-year. EBITDA margin rose to 23.2 percent from 22.3 percent in the year prior.

Votorantim Siderurgia, the group’s long steel arm, which operates long steel mills in Colombia and Argentina, posted BRL 1.04 billion net revenue in Q2, 5 percent up, year-on-year. The company attributed the increase in revenue to the higher prices seen in Argentina and Colombia, coupled with higher volumes in Colombia, especially in construction, the company said.

Cost of goods sold in the period totaled BRL 841 million, 9 percent up, year-on-year.

Votorantim Siderurgia’s Adjusted EBITDA in Q2 totaled BRL 128 million, 6 percent up, year-on-year, while EBITDA margin remained stable at 12.2 percent, with no change from the year prior.

1 US$ = BRL 3.47 (August 20)


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