Simpar (SIMH3), the holding company that includes companies such as JSL (JSLG3), Vamos (VAMO3) and Movida (MOVI3), released its balance sheet for the second quarter of 2024. The net profit reported by the company was R$ 159 million, an increase of 59% compared to the same period in 2023. With adjustments, the profit would be R$ 185 million, reversing a loss of R$ 55.6 million in 2Q23.
"The company is ready and is in a new phase. We had heavy investments here in 2021, 2022 and managed to complete what we call building the foundations of our business," said Denys Ferrez, the group's CFO, in an exclusive interview with InfoMoney.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) stood at R$ 2.7 billion, up 17.5% year-on-year and 11.4% more than in the second quarter of 2024. In the metric monitored by the company, the added adjusted EBITDA - which takes into account the accounting cost of the residual from the sale of fixed assets, in order to be closer to the real value of cash generation - stood at R$ 4.5 billion. The margin grew to 33.2% in the quarterly comparison (0.2 p.p. up) but fell 4.3 p.p. year-on-year.
Net revenue stood at R$ 10.3 billion, up 36.3% on the second quarter of last year.
"We still have opportunities to extract more, with available stocks that are in the process of being allocated and there are also cost reduction fronts. But in any case, the return on invested capital (ROIC) is already well above the cost of third-party capital," says the CFO.
Read the full story at: Simpar (SIMH3) profits R$ 159 million in 2Q24, up 59% year-on-year (infomoney.com.br)