2023-08-03 16:03:16
With revenue of BRL 281.2 million, Kepler Weber has the second best performance in history in second quarters
Kepler Weber (KEPL3) ended the second quarter with net revenue of R$ 281.2 million. Considering only the months of April, May and June, this was the second best period in the company’s history, second only to the second quarter of 2022, a year considered exceptional for the company.
In a message to the Market, the company mentions “resilience in the face of a challenging moment, especially for farmers who make up the Farms segment”.
Segment diversification strategy, adopted in recent years, generates resilience in the face of the challenging scenario.
The company’s net income for the quarter was R$33.4 million, 34.7% less than the R$51.2 million of the previous quarter. The margin in the period was 11.9% compared to 15.9% in the first quarter.
EBTIDA, earnings before interest, taxes, depreciation and amortization, was R$ 53.8 million. In the previous quarter, EBTIDA amounted to R$77.4 million.
Replacement and Services Areas, and Ports grow
In the message from management, Kepler Weber highlights some competitive advantages, such as “proximity to customers, revenue recurrence and diversification, cost optimization and price and margin management”.
The ROIC of 65.7% was “exemplary”, according to Kepler Weber, “maintaining a level of consistency in this important indicator. Likewise, the company’s Cash remains at a solid level of R$ 266.5 million, following the payment of dividends of R$ 77.7 million and the acquisition of 50% of Procer (R$ 50.8 million)” .
business areas
During the second quarter, Farms reached BRL 82.7 million in revenue, 22.9% less than that recorded in the previous quarter, when it recorded BRL 107.4 million. Compared to the same period last year, the segment fell by 37.3%.
“It is important to emphasize that the company remained resilient and delivered important works for producers in the States of Mato Grosso (mainly expansion of units) and new units in Goiás, Pará and Bahia, despite the scenario of reduced revenue in 2Q23”, says excerpt from the report to the market, which also cites the high interest rate and reduction in producer remuneration, due to the drop in commodities, as causes of lower revenue in this business area.
Farms represent a third of the company’s revenues and are already showing signs of improvement, according to the balance sheet. Over the last period, the company highlights having sold to Mato Grosso, Goiás and Piauí totaling R$ 59.9 million.
Many projects in the first quarter
“It is important to highlight that the first semester was characterized by a great demand for new projects”, highlights the message from the administration. “The volume of business created was significantly higher than the first half of 2022, a movement that already showed an improvement in customer expectations regarding the new harvest plan and the pressing need for storage by rural producers”, completes the report.
Agroindústrias ended the second quarter with revenues of R$ 85.2 million, once morest R$ 110.1 million in the previous quarter (-22.6%). “In addition to the high interest rate, the reduction in Net Revenue from this segment was caused by the postponement of investments by large clients to the second half of 2023”, says the balance sheet, which points to the expectation of closing deals from this quarter, with revenues from the fourth period.
Kepler Weber informs sales of Agroindustries in the second quarter that exceed R$ 100 million. There are projects for Paraná, Mato Grosso and Bahia.
International Business
International Business closed the quarter with growth of 9.6% in net revenue when compared to the previous quarter, from R$ 22.8 million to R$ 25 million. During the months of April, May and June, the company sold two projects for Paraguay and Uruguay, totaling R$ 12.3 million, which should influence results as of this quarter.
ports and terminals
Ports and Terminals ended the quarter with revenue of R$ 28 million, five times greater than the same period last year, when it had recorded revenue of R$ 5.9 million. Compared to the previous quarter, when it reported R$ 31.8 million, there was a decrease of 11.9%.
“This increase is the result of a good sales performance and the possibility of sequential deliveries. Strategies such as segment structuring and the dedication of a specialized team, contributed to increase volumes”, says the balance sheet.
Kepler Weber project for the Arco Norte terminal
The company announces the sale of a R$ 26.9 million project to duplicate a port terminal in Arco Norte in Brazil. “This terminal will go from a projected handling capacity of 4 million to 8 million tons of soy per year and has robust belt conveyors with great lengths, highlighting one of them that has more than 700m and a capacity of 1,500 tons per hour”.
Aftermarket and Services net revenue jumped 18.4% in the second quarter compared to the previous quarter. It went from R$51 million to R$60.4 million.
“It is important to highlight that in this segment, from March to June 2023, Procer’s revenue was consolidated. Therefore, Net Revenue adjusted for the effects of the consolidation of the acquisition (without considering Procer) would show an increase of 11.4% and 10.2% over 2Q22 and 1st half of 2022, respectively”, points out the balance sheet.
Kepler Weber also claims an increase of 15%, compared to the first half of last year, in the number of customers reached. “All regions showed growth, especially the agricultural frontiers in the north and northeast, where two new Distribution Centers were opened in 2022”, says the company.
Kepler Weber Capital Market on Ibovespa
Kepler Weber shares (KEPL3) recorded a 29.5% increase in liquidity in the daily average in June, “going from R$14.0 million in December 2022 to R$18.0 million in financial volume in June 2023”. The company’s shares, according to the announcement to the Market, reduced -6% compared to December 2022.
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