Randoncorp closes 2023 with record earnings

Randoncorp has released its 2023 figures which have resulted in the highest EBITDA in its history.

With a net revenue of 10.9 billion BRL (2.91 billion USD), the company said in a statement that these results demonstrate the resilience of Randoncorp’s business model which has overcome the current complex truck market.

Its EBITDA, 1.6 billion BRL at a margin of 14.4 per cent, is 0.9 percentage points higher than the previous year. In addition, revenues of $466.7 million USD were recorded for the foreign market, which represents an increase of 6.9 per cent in the annual comparison, despite the drop in demand in Latin America and the effects of the macroeconomic scenario in Argentina.

“The Company overcame the moment of a more adverse scenario in the truck market in the country and advanced in new business fronts, which reinforces consistency as an important feature of our operating strategy,” said Randoncorp CFO, Paulo Prignolato. “In addition, we worked on initiatives to reduce working capital, such as the reduction of inventories, which, combined with greater cash generation, allowed us to maintain our leverage at a healthy level.”

During the year, the positive performance of the Auto Parts and Motion Control verticals was fundamental to the execution of Randoncorp’s strategy. Even in the midst of one of the biggest drops in truck production in recent years, the company won new business, expanding its portfolio and directing its sales strategy to the foreign market, the aftermarket and agribusiness.

Among the other verticals that make up the group, the OEM (Trailers) – which concentrates the manufacturing operations of semi-trailers, on chassis and freight wagons – ended 2023 with revenues and margins at levels similar to those of 2022.

In other news, CEVA Logistics has signed a contract giving it land to build at the Port of Dunkirk in France.

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