The shoe manufacturer Espadrilles (ALPA4) had a 34% increase in profit in the third quarter, with revenues growing and expenses falling, in addition to the improvement in the financial line and a positive effect from discontinued operations.
The company announced this Thursday that its recurring profit from July to September totaled 155.5 million reais, compared to a gain of 116 million a year earlier.
Although it sold only 1.7% more in volume of pairs, Alpargatas had a revenue 12.7% higher year on year, to 1.06 billion reais, suggesting that the company was able to pass on higher prices.
At the other end, operating expenses dropped 7% year-on-year, to 366.1 million reais.
Thus, the company’s operating result measured by profit before taxes, fees, recurring amortization and depreciation (Ebitda) totaled 185.7 million reais in the quarter, an increase of 17.4%, and the Ebitda margin increasing 0.7 percentage point, to 17.5%.
The company also reported that its financial expense dropped 67.3% in the quarter, to 15.2 million reais. And it still had a positive net result of 2.5 million from discontinued operations.
A year earlier, this line had had a negative result of 60.2 million reais.
“In 2022, we will invest 600 million reais in capacity expansion to meet the demand for the brand Havaianas in the coming years”, stated the company’s CEO, Beto Funari, in the results report.
See the result below:
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