Kepler Weber reports 10,9% growth in net profit in the second quarter of 2024

According to the company's management, the positive performance is due to assertive strategies in the five operating segments, which also resulted in a 17,7% increase in EBITDA

01.08.2024 | 08:07 (UTC -3)
Cultivar Magazine
Bernardo Nogueira, CEO Kepler Weber
Bernardo Nogueira, CEO Kepler Weber

Kepler Weber ended the second quarter of 2024 with a 10,9% growth in its net profit, totaling R$37 million, compared to R$33,4 million in the same period of the previous year. This result was driven by a 16,6% increase in net revenue, which reached R$327,8 million, compared to R$281,2 million in the second quarter of 2023.

According to the company's management, the positive performance is due to assertive strategies in the five operating segments, which also resulted in a 17,7% increase in EBITDA, which went from R$53,8 million to R$63,3 millions. The EBITDA margin grew from 19,1% to 19,3%.

Management highlights that the storage deficit in Brazilian agribusiness, a favorable exchange rate for exports and the expectation of a record harvest in 2024/2025 were factors that contributed to the good performance in the quarter.

Performance by segments

• Farms Segment: recorded a 25,3% growth in net revenue in the quarter, totaling R$103,6 million, compared to R$82,7 million in the previous year. The company attributes this result to the expansion and strengthening of the sales portfolio in the fourth quarter of 2023. New works in Goiás, Pará, Bahia and Piauí contributed to the increase in revenue.

• Agribusiness Segment: had net revenue of R$98,2 million, a growth of 15,3%. In the six-month period, the area reached R$204,2 million. Kepler Weber highlights cooperatives' investments in industrial projects, with new sales totaling R$58 million in the quarter.

• International Business: grew 24,1%, closing the quarter with revenue of R$31 million. The company resumed exports to Argentina and performed well in Ecuador, Paraguay and Venezuela. Kepler Weber sold its first KW MAX dryer to Pakistan and completed two other sales worth R$18,3 million.

• Ports and Terminals: grew 34%, reaching R$37,5 million in the quarter. In the six-month period, net revenue was R$84 million, an increase of 40,6% compared to the same period last year. The company expects that two important works for corn ethanol industries will boost results in the second half of the year and in early 2025.

• Replacement and Services: net revenue was R$57,6 million, a drop of 4,7% compared to the previous year, due to the reduction in the cost of raw materials. However, Procer, leader in digital thermometry, increased the number of customers served by almost 30%.

Future perspectives

Kepler Weber is moving forward with the KWHUB project, which seeks to develop new storage solutions. Recently, the company incorporated the Silo Bolsa solution, aimed at temporary storage of products.

Share Performance

In June, the average daily liquidity of Kepler Weber shares was R$9,4 million. The company's shares fell 12,4% since December, while the Small Cap index fell 14,9% and the Ibovespa fell 7,7%.

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