MARCOPOLO´S INTERNATIONAL OPERATIONS STAND OUT IN THE THIRD QUARTER
Production and sales of the company’s operations abroad grew in the annual comparison
Marcopolo’s international operations stood out in the third quarter of this year. The company had sales growth in practically all operations abroad, which reached BRL 284.7 million in 3Q21 compared to BRL 164.0 million in 3Q20, an increase of 73.6%. Production in foreign markets totaled 696 units, almost double the volume produced in the third quarter of last year.
“Marcopolo Argentina maintained accelerated urban production, delivering consistent results, which should increase in the fourth quarter. Marcopolo South Africa managed to reach the balance point after restructuring the operation, also with positive outlooks for the coming quarters. Marcopolo China shows a gradual resumption of sales, including the opening of new markets”, says José Antonio Valiati, CFO and Investor Relations Director at Marcopolo.
In Brazil, 3Q21 results were impacted by granting collective vacations, motivated by the lack of electronic components, which affects the automotive sector. The company’s consolidated production was 2,210 units in 3Q21, with 1,514 units in Brazil, a volume 50.6% lower than in 3Q20 (3,064 units).
Marcopolo maintained its leadership in the Brazilian production of bus bodies even with the interruption of activities due to vacations. Production should accelerate in 4Q21, with an increase in sales aimed at heavy trucks and exports, as well as the return of volumes from the Caminho da Escola [Government school bus] program.
“We are able to supply 3,900 units, i.e., 2,500 micro buses and 1,400 Volares, out of a total of 7,000 buses auctioned by the federal program this year. We have already started to manufacture these vehicles and the expectation is positive for the fourth quarter of this year and for the first half of 2022, considering the high volume of adhesions by the municipalities”, reports Valiati.
In 3Q21, 2,341 units were registered in net revenue, of which 1,421 were invoiced in Brazil (60.7% of the total), 224 exported from Brazil (9.6%) and 696 abroad (29.7%).
Consolidated gross profit in 3Q21 reached BRL 72.0 million, with a margin of 9.5%, compared to BRL 136.7 million, with a margin of 16.3%, in 3Q20. The gross margin was affected by adjustments in the workforce, lower volume of exports, greater share of revenue from the Volare segment and by the lighter mix of products, especially in the road segment, with sales concentrated in chartering. EBITDA totaled BRL 95.1 million in 3Q21, with a margin of 12.6%, and net income reached BRL 107.1 million, with the contribution of non-recurring events.
“Even in this critical context generated by the pandemic, we continued to make strategic investments that allowed for gains in efficiency, quality and the launch of innovative products, including the exploration of new modes, such as rail transport. The challenge is renewed in a scenario of persistent cost increase, but today Marcopolo is ready to resume the successful trajectory that marks its history”, the executive concludes.
With the slowdown of the pandemic, the company sees an adequate environment for the gradual recovery of results and remains confident about the prospects for next year.