Kepler Weber earnings up in third quarter

by World Grain Staff
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SAO PAULO, BRAZIL — Kepler Weber S.A., the controller of the Kepler Weber Group, reported on Nov. 11 that gross profit for the third quarter increased 144.6% to BRL 52.7 million ($22.6 million) compared to the same period a year ago. 

Productivity gains, increased volumes and seasonality plateau contributed to the improved results, the company said. Operating profit increased 258.1% and net profit was up 172.2% to BRL 19.8 million.

Within this favorable context, and mostly because of robust and consistent revenue throughout the year, EBITDA reached BRL 35.7 million (a 21.4% margin compared to the net revenue) against BRL 12.2 million achieved in the same quarter last year, with a 12.9% margin.

When compared to the accumulated amount of the year, there was a 56.1% increase in net revenue compared to the previous year (BRL 415.2 million in 2013 against BRL 266 million in 2012). The net revenue performance reflects an excellent time for the agribusiness market, pushed by an increased demand for storage through loan facilities and by the record-breaking volumes of the harvest, the company said.