Kepler Weber reports record profits

by World Grain Staff
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SAO PAULO, BRAZIL — Kepler Weber S/A announced on Aug. 15 net profits of R$8.7 million ($3.69 million) for the second quarter, a significant increase from the R$600,000 reported for the same time period a year ago. 

The company said gains in productivity, cost controls, an increase in volumes and a leveling off of seasonality contributed to the increase in profits. Gross profits were R$30.3 million, a 106.1% increase from the previous year.

Net revenues for the second quarter reflect an increase in the demand for storage, driven by funding lines and by record volumes for the harvest, the company said. Net revenues were up 75.2% in relation to the same period of 2012, adding up to R$128.8 million. Assessing cumulative results for this year, there was 45% growth in net revenues compared to the year before. 

EBITDA reached R$19.9 million (with a margin of 15.5% in relation to net revenues), compared to a result of R$7 million achieved in the second quarter of 2012, with a margin of 9.5%.