CAXIAS DO SUL, Brazil — Randoncorp recently released second-quarter (Q2) and first-half (H1) 2023financial results showing growth when compared to last year.
There was an increase of 3.6% in comparison to the first half of the year, reaching BRL 5.4 billion in revenue in the first six months of 2023.
In the second quarter of 2023, Randoncorp registered a consolidated net revenue of BRL 2.8 billion, a value that represents stability when compared to the same period last year.
Randoncorp Reports Q1 Results
Considering the context of a complex market, with a drop in truck production in Brazil of approximately 40%, and credit with high rates, the performance achieved by the company is the result of its business strategy and reflects the internationalization and diversification of portfolio and markets.
In the second quarter of this year, Consolidated EBITDA grew 22.8% when compared to the same period last year, reaching BRL 444.4 million. EBITDA margin increased 290 basis points, closing at 16%.
While sales volumes of parts to original-equipment manufacturers (OEMs) are at below the average levels of the last two years due to the reduction in truck production in the country, the aftermarket for auto parts is heated, and semi-trailer segment continues to show positive demand from the agricultural sector and fuel-tanker lines.
In the second quarter, revenues from the foreign market totaled $130.2 million, a growth of 15.8%, which represents 23.2% of consolidated net revenues. In the first half of 2023, this indicator reached $241.2 million, being 13.6% higher than the first six months of 2022.
“Once again, the consistency of results throughout the first half of the year showed the assertiveness of our strategy. Specifically, when we analyze the second quarter scenario, the reductions in demand in some product lines were mitigated by the good performance of others, as well as the increase in international exposure of our companies has been fundamental to offset the challenges of the domestic market,” pointed out Paulo Prignolato, Randoncorp’s CFO.
Another example of the positive impact of the company’s expansion strategy is the revenue increases from recently acquired companies.
Hércules, in the semi-trailer segment, expanding the operations to the United States, and Juratek, in the auto parts aftermarket in Europe, controlled by Frasle Mobility, added, together, BRL 147.9 million in revenues in the second quarter of 2023.
Another BRL 28.1 million came from the DB company, which is part of the company’s Financial and Digital Services vertical.
“Such indicators reaffirm the Randoncorp that we are building today and project what we want for the future: an increasingly competitive Company, generating greater value for shareholders and a positive impact on society. Keeping our characteristic of working with dynamism, protagonism and innovation, guaranteeing the sustainability of the business, even in challenging scenarios,” explained Sérgio L. Carvalho, Randoncorp’s CEO.