02/29/2024 – 10:24
Kepler Weber, leader in the grain storage equipment market, obtained a net profit of R$94 million in the fourth quarter of 2023, a drop of 16.8% compared to the R$113 million recorded in the same period of the previous year, reported the company this Wednesday, 28th, after the market closes. The net margin reached 18.7%, a decrease of 3.8 percentage points in the annual comparison. Ebitda (earnings before interest, taxes, depreciation and amortization) was R$117.2 million, 22.5% less than a year before.
The company's net revenue was practically stable compared to the fourth quarter of 2022, at R$502.2 million. In the fourth quarter of 2023, the domestic market represented 94% of net revenue, and the external market, 6%, compared to 91% and 9%, respectively, a year earlier.
Net revenue from the Farms segment in the fourth quarter of 2023 decreased 1.2% compared to the same period of the previous year, to R$151.2 million. Year-to-date, the drop was 25.8%, to R$487 million. In a statement, the company said the drop in 2023 reflected lower producer pay and adverse weather conditions in important agricultural regions. “The drop in steel prices affected product prices, generating a lower level of revenue despite volumes level with the previous year,” said the company.
Kepler also said that in the fourth quarter of 2023, relevant sales were made in this segment, totaling R$82 million, which should contribute to boosting performance in the first half of 2024.
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