A Let’s go (GO3) reported record profit of r $ 111 million in the third quarter of 2021, up 127% compared to the same period last year, shows a document sent to the market this Thursday (28).
“We have further accelerated our pace of growth in the different business segments, going through the expansion of the fleet and increased investments”, informs the company in the results report.
Revenue totaled R$ 830 million, an increase of 78.7%.
“It was the best in history. We have a leading role in the heavy vehicle leasing market”, says Vamos CFO, Gustavo Moscatelli in an exclusive interview with Money Times.
Also according to him, this was the first quarter in which there was a consolidation of acquisitions in the first half.
“It’s been a special year, we’re managing to deliver above expectations. All indicators are much higher than expected”, he says.
Ebitda, which measures the operating result, was R$291 million, an increase of 71.4%.
The company ended the period with a fleet of 20,384 thousand trucks, machinery and equipment, an increase of 45.4%.
Next year
According to the executive, the company also sees expressive growth in the fourth quarter and next year.
“Next year will be a record in truck production. It’s the opportunity to grow faster and faster”, he argues.
For him, the more complicated economic prospects will not impede the expansion of Vamos.
“Our business model is doing very well when the economy is doing well, obviously. But when the economy is bad, companies look for alternatives to reduce costs and expenses. The lease reduces costs by up to 30%, for example”, he points out.
Asked whether the lack of chips, which has harmed the automotive industry, could affect the production of trucks, the executive replied that there is a question of volume that brings less complexity to this segment, since the number of trucks manufactured is much smaller than the than cars.
Despite this, he stressed that the industry has also been affected by the lack of raw material.
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