Votorantim first-quarter driven by Brazilian housing and infrastructure

Votorantim Industrial reported that first-quarter revenues increased for all businesses YoY, except for pulp, supported by business focused on the Brazilian market, mainly driven by housing and infrastructure.

Sales volume increased in cement, nickel and pulp, while it decreased in long steel and zinc. Consolidated net revenues and Ebitda amounted to BRL5.7bn and BRL$1bn, an increase of 6% and a decrease of 20%, respectively. EBITDA margin declined from 22.8% to 15.7%, impacted by the metals, long steel and pulp businesses. Cement business accounted for 57% of EBITDA, metals 28%, steel 6% and pulp 9%.

Cement sales volume increased by 25% in North America and by 7% in Brazil, which accounted for 92% of the total sales volume. Net revenues went up 14% and totaled BRL2.1bn, supported by a higher volumes and prices in Brazil. EBITDA increased by 15%, from BRL0.5bn to BRL0.6bn, due to higher productivity and energy efficiency in the new plants.