In its 74 years of operation, Brazil-based OEM, Randon Companies, has achieved a new record for consolidated net revenue.
Randon reported a net revenue of €11.2 billion BRL (approx. €1.9 billion) in its 2022 financial results.
This represents a 23 per cent increase compared to the same period in 2021.
As for consolidated EBITDA, it surpassed 2022 projections with a total of 1.5 billion BRL (approx. €265.4 million) with an EBITDA margin of 13.5 per cent.
Revenue from the foreign market, which includes exports from Brazilian units and sales from subsidiaries located abroad, reached 436 million BRL (approx. €77.1 million) in the year, a 40 per cent increase when compared to 2021 and 18 per cent above the top guidance forecast for that indicator.
Key factors for the indicators achieved include: a diversified business model, with access to markets in new countries, portfolio expansion, company acquisitions, winning new customers and offering innovative and more sustainable products, combined with positive scenarios in markets such as replacement auto parts.
Global expansion and sustainability is on the horizon for Randon.
Last year saw the OEM enter the US trailer market following the acquisition of Hercules in November as well as unprecedented export of semi-trailers made in Brazil to the US.
More recently, in February, the Fras-le subsidiary announced the acquisition of the UK auto parts manufacturer, Juratek, an operation made possible with part of the follow-on funds carried out in April 2022.
Actions to achieve the objectives outlined in the Randon Companies’ ESG Ambition were accelerated. By 2030, the company expects to invest more than 100 million BRL to generate renewable energy, which will supply industrial units around the world. Fras-le’s operation in China already has its first photovoltaic plant, and the next delivery, from a series of projects, will be a plant with around 2,300 solar panels, which is under construction at the Centro Tecnológico Randon (CTR), in Brazil.
“We are strengthened and confident about the future, which is very promising due to the various opportunities we envision, such as increased exposure to the North American and European market, synergy gains with new acquisitions, and with the launch of innovative and disruptive solutions for transport.” said Randon Companies CEO, Sérgio L. Carvalho.
“These projects, in addition to increasing our market share and consolidating us in a leadership position, allow us to bring benefits to our customers and society, also contributing to the global sustainability agenda, and which reflect our purpose of connecting people and wealth, generating prosperity.”
In other news, Randon and steel producer, Gerdau, aim to create a new heavy vehicle leasing business.