Empresas Randon achieved another quarter of revenue growth and good operating performance. Net revenue for the first quarter of 2022 totaled BRL 2.5 billion, a 29.5% increase when compared to the same period the previous year. This is the highest level for a first quarter in the entire history of the company. Consolidated EBITDA was BRL 401.4 million, with a margin of 16.2%, a 15% growth compared to the first quarter of 2021.
The level of demand in the commercial vehicle markets and in the aftermarket segment and the increase in revenues from new acquired companies were some of the factors that boosted the positive performance in the quarter. “Our diversified business model allowed us to keep strong margins and face the challenges of the period, such as the effects of inflation and the scarcity of some inputs, as well as geopolitical events that affect the economy as a whole. This was only possible due to the intense work carried out by all areas of the company”, highlights the CFO of Empresas Randon, Paulo Prignolato.
Another highlight of the quarter was the increase in revenues from the foreign market, which increased 48% compared to the same period last year, reaching USD 99.9 million. “Demand remained positive, showing growth in all verticals that operate with foreign markets. Even with the recent devaluation of the dollar against the real and difficulties in some geographies, we still see good opportunities for the coming months”, states Prignolato.
The quarter was marked by an important fundraising movement to support the growth strategy of Empresas Randon, with the 9th issue of debentures to the amount of BRL 500 million. And in April, there was a follow-on of the subsidiary Fras-le, which raised BRL 629 million to invest in new projects, in which Empresas Randon increased their interest in the capital of this subsidiary to 52.57%.
Following the evolution of governance, Empresas Randon announced a new format for disclosing results, starting in the first quarter of 2022. Now the numbers and data are presented in five business verticals: Automaker; Commercial Vehicle Auto Parts; Movement Control of Commercial and Light Vehicles; Financial and Digital Services; and Advanced Technology and Headquarter.
For the CEO of Empresas Randon, Sérgio L. Carvalho, this shows to the market the constant evolution of the business and the company's accelerated growth, giving even more focus to the conduct of operations, the execution of the strategy and sustainable growth. “This new format is another step towards expanding and strengthening our governance, providing even more transparency to the disclosure of our results and reflecting the way we manage our business internally”, he emphasizes.
In the analysis of the distribution of net revenue by business vertical of Empresas Randon, the quarter presented a balance of representation among them. Among the highlights, the Automaker vertical, which includes the business units of manufacturing and assembly of road implements and rail wagons of Randon Implementos, represented 35.4% of revenue. The verticals of Commercial Vehicle Auto Parts, which includes the operations of the companies Castertech, Suspensys, Master and JOST Brasil, and Movement Control of Commercial and Light Vehicles, which includes Fras-le and all its controlled units, reached 34.9% and 25%, respectively. The complete data can be accessed via the Empresas Randon Investor Relations portal.