Brazil’s Randoncorp credits internationalisation and diversification of portfolios and markets for its second quarter success.
The transport equipment company registered a consolidated net revenue of 2.8 billion BRL (approximately €515 million) in the second quarter of 2023. Consolidated EBITDA grew 22.8 per cent when compared to the same period last year, reaching 444.4 million BRL (almost €81 million). EBITDA margin increased 290 basis points, closing at 16 per cent.
While sales volumes of auto parts to OEMs were at below the average levels over the last two years due to the reduction in truck production in the country, the aftermarket for auto parts is heated, and semi-trailer segment continues with good demand from the agricultural sector and fuel tanker lines, the company said in a statement.
“Once again, the consistency of results throughout the first half of the year showed the assertiveness of our strategy,” said Randoncorp’s CFO, Paulo Prignolato.
“Specifically, when we analyse the second quarter scenario, the reductions in demand in some product lines were mitigated by the good performance of others, as well, the increase in international exposure of our companies has been fundamental to offseting the challenges of the domestic market.”
In other news, Brazilian vehicle parts manufacturer, Frasle Mobility, has recorded what it is calling historical results for the first half of 2023.