Source: Fras-le announcement

CAXIAS DO SUL, Brazil — Fras-le posted positive performance for the first quarter of 2022. The company achieved consolidated net revenue of R$ 704.8 million, representing 10-percent growth compared to the first three months of last year.

The indexes reflect a quarter of balance between the price recompositions of the marketed products and production costs and the exchange variation of the period. EBITDA reached R$ 106 million, with a margin of 15 percent, down 4.6 percent compared to the first quarter of 2021, favored by exceptional demand, foreign exchange and non-recurring effects.

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“With about 90 percent of our revenue stemming from aftermarket and a diversified model of products and markets, we have achieved results that reflect our ability to balance and resilience, especially in challenging times,” said Hemerson de Souza, the Director of Investor Relations at Fras-le.

The year 2022 began with positive demand in several markets and geographies, especially in North American countries. The results in the foreign market, between exports and revenues generated by operations outside Brazil, totaled U.S. $56.5 million in the first quarter, 32.8 percent higher than the same period of the previous year.

“The scenario and results confirm our permanent focus on the search for operational efficiency, expanding synergies in the business and between the companies that make up the company, betting even stronger on new technologies.

“Also, the recent capitalization we seek, the result of the public offering of new shares, opens opportunities for a new context of expansion,” said Sérgio L. Carvalho, president and CEO.

In April, the company consolidated an offer of shares that raised about R$ 629 million, that will be directed to the continuity of the company’s expansion strategy and to investments in innovation. The primary public distribution was 52,450,000 new shares.

To view the entire announcement and additional information, click HERE.