3tentos, a company from Rio Grande do Sul that distributes agricultural inputs, grain origination and processing, obtained adjusted net income of R$ 228.91 million in the fourth quarter of last year, 91.5% higher than that reported in the same period of the previous year.
The net operating revenue advanced 63.3% in the annual comparison, to R$ 1.635 billion in the period ended in December. The results were released by the company on Thursday (17).
The company’s Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 177.27 million in the fourth quarter of the year, a decrease of 0.4% against the last quarter of 2020.
Adjusted Ebitda margin dropped 6.9 percentage points, from 17.8% in the fourth quarter of 2020 to 10.8% in this fourth quarter.
When the comparison also includes the fourth quarter 2020 result of Tentos do Sul, acquired by the company in November last year, the increase in adjusted net income is 72.3%, the increase in net operating revenue, 62.2% ; and adjusted Ebitda dropped 4.1%.
In a statement, the CEO and founder of 3tentos, Luiz Osório Dumoncel, said that numbers indicate a loss of more than 40% of the 2021/22 crop in Rio Grande do Sul due to the drought.
“The impacts of this crop failure, accompanied by the drop also observed in other important regions in the production of soybeans in the South of South America (Argentina, Paraguay, Mato Grosso do Sul and Paraná), can bring about an increase in grain prices and, consequently, , some relief from the loss of producer revenue.”
He also reported goals to replicate the company’s ecosystem in Mato Grosso. “By 2025, eight stores distributed in the BR-163 region will be opened, one of which will be opened in 2021 in Sinop/MT, and another two in January 2022 in Sorriso/MT and Matupá/MT”, says the note.
“The construction of the new soy processing and biodiesel production plant in Vera/MT is 37% complete and will start operating at the beginning of the second half of 2023. Before that, this unit will already have an installed static capacity of 200 thousand tons, which from June 2022 will carry out the origination of corn (and, later, soybeans).”
Source: CNN Brasil
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