Ambipar achieves record results in 2022, revealing the success of the company’s bold investments

Brazilian multinational Ambipar, a leader in environmental management, presented its financial results for the fourth quarter of 2022 (4Q22) as well as the consolidated results for the previous year. The company reported a record net revenue of R$ 3.8 billion in 2022, representing a growth of 97.8% compared to 2021, with a net profit of R$ 108.7 million. The EBITDA for the year was R$ 1.04 billion, a growth of 102.5%, with an annual EBITDA margin of 27.6%. The company’s CFO, Thiago Costa, stated that the company is confident about future prospects. “Our strategy has been to build a valuable service offering for our clients, with innovation in processes, standardization, and scalability, which makes our business model unique. The combination of these factors creates entry barriers that protect our activity. We offer a value proposition based on trust, where Ambipar is the partner that addresses our clients’ main environmental service needs, with the purpose of addressing the ESG agenda,” he declared.

For the company, these healthy numbers, even in the face of a challenging macroeconomic context, reflect “the clients’ confidence in the services offered by the company.” Ambipar has observed an important scenario of margin maintenance in the businesses of Ambipar Environment and Ambipar Response, mainly due to the gains from synergy with the dilution of fixed costs and expenses among the approximately 40 operations acquired in the last two years. As a result, indicators of solidity are being reinforced, as revealed by Thiago: “We are a unique company globally in a new sector, so we understand that the market has difficulty understanding and analyzing us. We also understand that it is our obligation to explain and teach. We are taking on this commitment and will dedicate ourselves to it throughout 2023.”

Ambipar ended 4Q22 with a leverage ratio of 2.98x, showing growth after a stabilization period in the first three quarters of 2022. This level is considered healthy in a scenario of investments for the expansion of assets linked to long-term contracts. This increase was expected since the company made aggressive moves for growth through acquisitions. It is worth noting that the company’s current financial availability is R$ 2.9 billion. The recent IPO of Ambipar Response on the New York Stock Exchange (NYSE) has already contributed to reducing the company’s leverage to a level of approximately 2.5x. Additionally, the growth in cash generation from recent acquisitions and its potential organic growth, which brings significant revenue in dollars and euros, also offer potential positive contributions to the company’s financial health.

In the fourth quarter, Ambipar showed consolidation in important indicators, signaling a positive scenario with the capture of synergies among the new operations. The company closed the last three months of 2022 with a net profit of R$ 22.7 million (-56.7% compared to 4Q21) and net revenue of R$ 1.2 billion (+74.6% compared to 4Q21). Furthermore, the company had a 2.1 percentage point increase in EBITDA margin in 4Q22, reaching 29.4%, due to the capture of synergies from its latest operational and commercial acquisitions.

In its statement, the company says that the Ambipar’s evolution trajectory sends a very clear message: “Just by looking at 2020, the year of the IPO, the company presented an annual consolidated EBITDA of R$ 197.6 million.” Now, in just the fourth quarter of 2022, Ambipar’s EBITDA has already reached R$ 349.8 million. “The company achieves, in just one quarter, a result higher than what was recorded throughout 2020, the year of its IPO. This points to the undeniable success of the expansion strategy after going public, with growth, profitability, and returns above the company’s cost of capital,” concluded Thiago Costa.

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