Votorantim Cimentos sees regional sales pick-up in 2Q21

Votorantim Cimentos sees regional sales pick-up in 2Q21
12 August 2021

Votorantim Cimentos recorded strong sales in all operating regions in the 2Q21. Price rises and reduced restrictions from the pandemic aided beter results than in the same period last year.

In Brazil Votorantim Cimentos recorded a net revenue of BRL2565m (US$494.2m) in the 2Q21, up 46 per cent from BRL1760 in the 2Q20. Adjusted EBITDA grew by 167 per cent in 2Q21 in Brazil at BRL659m compared to BRL247m in the 2Q20. "Brazil has seen 30 per cent increase in cement demand YoY,” said Osvaldo Ayres, Votoratim Cimentos’ chief financial officer. "Price dynamic was also supported with double-digit growth compared to 2Q20."

North American (USA and Canada) net revenue reached BRL1938m in the 2Q21 compared to BRL1473m in the 2Q20 – a rise of 32 per cent. Adjusted EBITDA amounted to BRL598m, up 54 per cent from BRL387m in the 2Q20. This was mainly driven by higher volumes and prices in Canada, said Votorantim. McInnis Cements results have been consolidated since May 2021. 

Europe, Asia and Africa's (VCEEA) net revenue totalled BRL1109m in the 2Q21, up 112 per cent from BRL523m in the 2Q20. Results were positively impacted by a consistent market recovery compared to the pandemic restrictions in the same period of last year and by solid local prices particularly in Turkey.

Votorantim Latin America's (Bolivia and Uruguay) net revenue in the 2Q21 amounted to BRL198m up from BRL121m in 2Q20, up 63 per cent. Adjusted EBITDA in the region rose by 240 per cent to BRL92m compared to BRL27m in the 2Q20. 

Published under Cement News