Money Times by Kaype Abreu - 11/14/2024
By Writing Team
Posted in November 14, 2024
Ambipar (AMBP3) reported a net profit of R$ 44.5 million in the third quarter of 2024, an increase of 27.9% (Image: Disclosure).
The Ambipar (AMBP3) reported a net profit of R$ 44.5 million in the third quarter of 2024, a 27.9% increase compared to the previous year. The performance was driven by a 79.5% growth in net revenue, which reached R$ 2.12 billion, compared to 3Q23.
The EBITDA showed a 37.0% increase, totaling R$ 515.3 million, a record high, although the EBITDA margin recorded a drop of 7.5 percentage points, to 24.3%. Adjusted leverage improved to 2.62x, from 2.99x last year – in line with the goal of reaching 2.5x.
To Money Times, Ambipar’s CFO, João Arruda, said that the advancement of some key balance sheet lines is due to, among other factors, new contracts, especially in the Environment vertical, where net revenue grew 64.2%, reaching nearly R$ 1.9 billion.
This expansion was supported by projects in glass recycling, waste management, and renewed and expanded contracts, such as in the pulp and paper sector.
Consolidation of Operations
Arruda emphasized that Ambipar has stopped its acquisition activity, now focusing on organic growth and the consolidation of operations. “We have a huge integration plan ahead,” he said.
“My mandate is focused on the consolidation of operations and seeking operational efficiencies,” he said, noting that the focus is on cash generation and debt reduction.
CFO Arruda mentioned the expansion of international operations in the Response vertical, especially in North America and Europe, where profitability improved significantly compared to the previous quarter.
Arruda highlighted the company’s focus on sustainability and its long-term commitment to shareholders. According to him, Ambipar is on its way to becoming a global reference in sustainability, with a solid financial and operational foundation:
“This company transformation process, focused on efficiency, attracting new executives to strengthen our team even further, has just begun,” he said.
