Votorantim had net profit of R$ 1.2 billion in the third quarter, growth of 12% over the same period last year, informed the industrial group this Wednesday (16).
The company recorded net revenue of R$ 14 billion from July to September, an increase of 5% over a year earlier.
However, operating performance measured by adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) fell 11%, to R$ 2.8 billion, amid rising costs in the group’s supply chain, minimized by price increases in products such as cement and metals.
In the third quarter, Votorantim completed the purchase of an additional stake that put it in the control group of the largest mobility infrastructure operator in the country, CCR, and entered into a strategic partnership with Singapore’s sovereign wealth fund, Temasek, and an alliance between the bank BV and Bradesco to create an independent investment manager with BRL 41 billion in assets under management.
Source: CNN Brasil
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