SAO PAULO (Reuters) – Weg reported this Wednesday net profit of 812.9 million reais in the third quarter, up 26.2% year-on-year, driven by an improvement in industrial activity and good demand in the markets in that the company operates.
Such performance, according to the company, was also positively impacted by credits referring to the exclusion of ICMS from the PIS and Cofins calculation basis.
The company, which operates in the capital goods sector with solutions in electrical machines, automation and paints, also reported that earnings before interest, taxes, depreciation and amortization (Ebitda) advanced 22.3%, to 1.14 billion real.
The Ebitda margin, however, dropped 1 percentage point on a year-over-year basis, to 18.5%, with the company citing challenges in the global supply chain and the consequent increase in raw material costs among the factors.
Net operating revenue grew 29.1%, to 6.2 billion reais, with an increase of 40.6% in the domestic market and 20.3% in the foreign market. In dollars, foreign market revenue rose 23.6%.
(Reporting by Gabriel Araujo)
#Weg #sees #net #profit #advance #3rd #quarter