Weg ended 2022 with a consolidated net profit of BRL 4.208 billion, an increase of 17.3% compared to that reported in the previous year.
The Ebitda (earnings before interest, taxes, depreciation and amortization) totaled R$ 5.617 billion last year, a growth of 20.1% compared to the calculated one year before. The Ebitda margin was 18.8%, 1.1 percentage points below that recorded in 2021
Net revenue was BRL 29.904 billion in 2022, up 26.91% against net revenue of BRL 23.563 billion in the 12 months of 2021.
Revenues from the domestic market totaled R$14.864 billion, up 38.4% over the previous year, representing 49.7% of total Net Operating Revenue (NOR).
The foreign market accounted for R$ 15.040 billion, growth of 17.3% compared to the previous year, representing 50.3% of total NOR. In local currencies, weighted by the weight of each market, revenue from the foreign market grew by 26.8% in the year.
The financial result was positive at BRL 64.1 million in 2022 against BRL 171.7 million in 2021). According to the company, the result stems from financial income of R$ 1.105 billion and financial expenses of R$ 1.041 billion.
“In addition to the increase in remuneration on financial investments in 2022, it is worth remembering that the results for 2021 and 2022 were impacted by the recognition of monetary restatement on tax credits related to the exclusion of ICMS from the PIS and COFINS calculation base in the amount of R $138.9 million and R$25.4 million, respectively”, highlights the company in its performance report.
The indicator cost of goods sold (COGS) in 2022 was BRL 21.209 billion, up 27.75% against the result of a year earlier, of BRL 16.602 billion.
Investments
Investments in fixed assets for expansion and modernization of production capacity totaled R$1.193 billion in 2022, with 52% allocated to assets in Brazil and 48% to industrial parks and other subsidiaries abroad.
“In addition to constant improvements in existing operations, with improvement, automation and robotization of processes, investments were also made related to the expansion and construction of some strategic units throughout the year.
In Brazil, we highlight the start of the expansion project in Jaraguá do Sul, with the construction of a new factory dedicated to industrial motors and electric mobility, in addition to the expansion of the large transformer factory in Betim”, he informs.
Abroad, the company remembers the recent announcements of new units in Portugal and Turkey, in addition to the conclusion of the construction of the new low voltage industrial motor factory in India.
“We also carried out important expansions at the North American units, both for industrial motor factories and for transformers”, he highlights.
“We emphasize our ability to adjust the speed of execution of the investment program to the effective market demand, within our modular expansion strategy, always seeking to maximize the return on invested capital”, he adds.
4th Quarter
Weg recorded, in the fourth quarter of 2022, net income of BRL 1.193 billion, 36.5% higher than that generated in the fourth quarter of 2021 and 3.0% higher than the third quarter of 2022.
Ebitda reached BRL 1.559 billion, up 38.6% compared to the same quarter of 2021 and down 0.6% compared to the previous quarter, while the Ebitda margin of 19.5% was 2.3 percentage points (pp) higher than in the fourth quarter of the previous year and 0.3 pp lower than the third quarter of the same year.
Net Operating Revenue (NOR) was R$7.979 billion, 22.0% higher in the annual comparison and 0.9% higher in the quarterly comparison.
Source: CNN Brasil
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