CAXIAS DO SUL, Brazil – In 2022 Fras-le achieved record result with increasing, balanced and positive performance in all operations in Brazil and worldwide.
The company’s consolidated net revenue was R$ 3.1 billion, an increase of 18 percent compared to 2021.
EBITDA reached R$ 453 million in the year, an increase of 17 percent, while the recorded EBITDA Margin was 14.8 percent.
Revenue in the foreign market, which includes exports from Brazil with the performance of operations in other countries, totaled R$ 1.2 billion, a 19 percent increase compared to the previous year – figures driven by good sales performance in regions such as North and Latin America.
For Fras-le’s Investor Relations Director, Hemerson de Souza, 2022 was a new milestone in the consolidation of the company’s business strategy, focused on the auto parts aftermarket for movement control and diversified in achieved geographies and product portfolio.
“Once again, we have achieved the biggest and best financial indicators in our history fruit of the assertiveness of the strategy we have adopted. A sign of this we had already noticed when we carried out the FOLLOW-ON in April, which presented itself as a vote of confidence of the market, rewarding our recent achievements and serving as a key piece for a new cycle of expansion that we are building,” said de Souza.
Fras-le announced in February the acquisition of Juratek, an UK’s auto parts manufacturer, representing an investment of around £18.2 million pounds.
The results achieved last year exceeded the projections of Guidance consolidated net revenue and foreign market share.
The year 2022 stands out also by developments in some of the strategic projects, such as the consolidation of an integrated distribution center in Brazil and a new operational center in Argentina, which enhanced synergies between Fras-le’s controlled companies.
The continuous investment in circular economy initiatives and reverse logistics, and the commitment to clean energy for operations, with the inauguration of the first photovoltaic generation plant at Fras-le’s China factory, are examples of the trajectory to achieve the commitments established in the company’s ESG Ambition.
“We believe that 2023 will be another important year for Fras-le. We will continue to invest in disruptive technologies, in the evolution of our brands and products, in process automation and in the expansion of territories around the globe. Seeking the constant balance of our operations in Brazil and abroad,” said Fras-le President and CEO Sérgio L. Carvalho.
Positive fourth quarter
Despite the seasonal slowdown in the year-end period compared to the previous months, in the fourth quarter of 2022 Fras-le has recorded R$ 747 million in consolidated net revenue, 9 percent up from the same period last year. EBITDA reached R$ 84 million, 60 percent up compared to 2021, while the recorded EBITDA margin was 11.3 percent and the adjusted EBITDA margin was 14.5 percent. The foreign market revenue sum was R$ 250 million.
