Kepler Weber reports record annual results
by World Grain Staff
SAO PAULO, BRAZIL — Kepler Weber announced on March 24 record results for 2013 including a 98.5% increase in net profit and 40.1% growth in net revenue.
Net profit was BRL 61.1 million ($26.5 million) and net revenue was BRL 594.8 million ($257.7 million), thanks to the agribusiness market and the company’s diversification strategy.
The company said the 2013 results were motivated by a combination of positive external factors: an excellent harvest, with a grain production 12.5% greater in 2012-13; high prices of commodities and strong support of the Brazilian government to agribusiness, with commensurate credit facilities for long-term loans to agricultural storage. All these factors have contributed to a strong demand for agricultural storage equipment, with a 50% market growth in the year.
Kepler Weber also said its performance was a result of strategic decisions made in recent years, which have profoundly changed the company, thus consolidating its leadership in Brazil.
Kepler Weber has invested BRL 90 million to diversify its product portfolio, expand its presence in new export markets, increase its production capacity and obtain strong productivity gains. Simultaneously, a strict financial discipline enabled Kepler Weber to generate a strong cash flow, significantly reduce its debt and resume the payment of dividends to its shareholders.