Ferbasa (FESA4) reported a net profit of R$41.1 million ($7.98 million) for Q1 2024, marking a 68.8% decline from the same period last year.
Adjusted EBITDA fell by 58.3% to R$78.4 million ($15.22 million).
Net revenue for the quarter stood at R$509.5 million ($98.83 million), showing a 28.9% decrease from last year.
Despite these declines, increased steel production in Brazil boosted Ferbasa’s product sales. Additionally, the ongoing conflict in Eastern Europe raised commodity prices.
This positively impacted revenue in domestic and international markets.
Even’s Q1 Profits Increase by 13.6% to R$ 65 Million
Even (EVEN3) reported a net profit of R$64.9 million ($12.60 million) for Q1 2024. This reflects a 13.6% increase from the same period last year.
EBITDA was R$101 million ($19.61 million), showing a 28.8% decrease from Q1 2023. However, the EBITDA margin rose by 0.4 percentage points to 15.6%.
Net revenue from sales and services fell by 30.8%, amounting to R$649 million ($125.92 million).
The company’s cash balance stood at R$363 million ($70.49 million). Excluding SFH, net debt was negative at R$701.7 million ($136.23 million).
The leverage ratio, measured by net debt over equity, dropped by 2 percentage points to 11.7%.
Ânima Reverses Loss, Posts R$ 97.5 Million Profit in Q1
Ânima (ANIM3) reported a net profit of R$97.5 million ($18.93 million) for Q1 2024. This reverses a loss of R$41.3 million ($8.02 million) from last year.
Adjusted net profit reached a record high for a first quarter at R$104.7 million ($20.33 million).
EBITDA increased by 29.1%, reaching R$384.2 million ($74.61 million). The adjusted EBITDA margin rose by 3.1 percentage points to 40%.
Net revenue was R$990 million ($192.23 million), marking a 3.8% annual increase.
Background and Importance
Ferbasa’s significant profit drop highlights volatility in commodity markets and operational challenges.
Even’s modest profit rise and Ânima’s financial turnaround showcase varying landscapes across industries.
These results reflect broader economic trends and the impact of global events on local markets.
Understanding these dynamics is crucial for stakeholders and investors navigating these sectors.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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