THE Arezzo & Co. (ARZZ3) has nothing to complain about the second trimester. The company registered a adjusted net income of R$ 123.4 million. The figure is 106.4% higher than the R$ 47.4 million in the same period last year.
The company’s gross revenue increased 65.1%, reaching R$ 1.16 billion. The foreign market accounted for 11.1% of the amount, or R$ 129.4 million. The figure is 56% higher than in the second quarter of 2021.
The domestic market, from which 88.9% of Arezzo’s revenues came, showed an even greater recovery. Gross sales in Brazil rose 66.3% and totaled R$ 1.03 billion.
Arezzo squeezes expenses in 2Q22
Adjusted net revenue increased 70.8% and totaled R$944.7 million. As Arezzo managed to contain costs of goods sold, which grew 63.1%, gross profit increased 77.5%, to R$ 528.6 million. As a result, gross margin improved by 2.1 percentage points and ended June at 56%.
Control of expenses continued in the following lines. General and administrative expenses, for example, rose 68.3% to R$400.3 million.
This allowed adjusted EBITDA, an important metric for cash generation, to jump 92.9% from R$84.2 million last year to R$162.4 million between April and June. The performance was accompanied by an increase of 2 percentage points in the adjusted ebitda margin, which reached 17.2%.
See Arezzo’s second quarter results report, released this Wednesday (11).
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
