Adjusted EBITDA was R$358 million, with a margin of 13.3%, while net revenue grew by 47% year on year, to R$2.7 billion<\/p>\n
Highlights:<\/p>\n
\u2022 Company revenues amounted to R$2.7 billion in 3Q22, 47% higher than in 3Q21.
\n\u2022 Cash generation from operations of R$230 million.
\n\u2022 Adjusted EBITDA of R$358 million, with a margin of 13.3%.
\n\u2022 The Company posted record net income of R$192 million in 3Q22, versus
\nR$125 million in 3Q21.
\n\u2022 The net debt\/LTM Adjusted EBITDA ratio was 1.3x.<\/p>\n
Joinville, November 07, 2022 – Tupy (TUPY3) recorded net income of R$192 million, revenues of R$2.7 billion and adjusted EBITDA of R$358 million in the 3rd quarter of 2022. These are the highest figures ever recorded by the Company. The positive performance is the result of the advance in operational efficiency and synergy capture across the Company\u2019s plants.<\/p>\n
The cash conversion cycle also reduced significantly quarter on quarter: an 18-day decrease, contributing to the cash generation of R$230 million. Indebtedness \u2013 which already was at a comfortable level \u2013 reduced to a figure corresponding to 1.3x the Adjusted EBITDA.<\/p>\n
New Businesses<\/p>\n
Tupy disclosed a Material Fact on October 26 announcing that the General Superintendence of Administrative Council for Economic Defense (CADE) approved, without restrictions, the acquisition of 100% of the assets and businesses of MWM. The acquisition was announced in April this year. The decision is still under review by the Court of the institution. But the transaction is expected to be concluded by late 2022.<\/p>\n
Said transaction will allow Tupy to be exclusively positioned in the industry.
\nThe Company will offer complete solutions in casting, machining, assembly, technical validation, and associated engineering activities. It will also be closer to low-carbon economy opportunities coming from the generator market, low-carbon transport, and power generation in farms.<\/p>\n
\u201cAll our actions have been leading us to the construction of a new Tupy. A larger, more competitive, diversified and even more efficient company, with a unique positioning in the market and which dedicates its knowledge to meeting its customers\u2019 needs and the challenges of society towards a sustainable development,\u201d stressed Fernando de Rizzo, the CEO of Tupy.<\/p>\n
About Tupy<\/p>\n
A Brazilian multinational company that designs and manufactures cast iron structural components with highly complex geometry and metallurgy.
\nThese engineering solutions are applied to the transportation, infrastructure, agribusiness and energy generation sectors, contributing to the quality of life of people, promoting access to health, basic sanitation, drinking water, food production and distribution, and the global trade. The production is concentrated in the Brazilian factories located in Betim (MG) and Joinville (SC), and abroad, in the cities of Aveiro, in Portugal, and Saltillo, and Ramos Arizpe, in Mexico. The Company also has commercial offices in Brazil, Germany, Italy, and the U.S. www.tupy.com.br<\/p>\n
Media Relations:<\/p>\n
Edelman: TUPY@edelman.com<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Adjusted EBITDA was R$358 million, with a margin of 13.3%, while net revenue grew by 47% year on year, to R$2.7 billion Highlights: \u2022 Company revenues amounted to R$2.7 billion in 3Q22, 47% higher than in 3Q21. \u2022 Cash generation […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-5787","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n