Ambipar (AMBP3) reports a net profit of R$ 34.8 million, a 4.8% increase year-over-year

Ambipar (AMBP3) recorded a net profit of R$ 34.8 million in the third quarter of 2023, showing a 4.8% increase compared to the same period in 2022.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) reached R$ 376 million, a record value for quarterly EBITDA and a 38% annual growth. The margin increased to 31.8%, rising by 4 percentage points.

The company’s net revenue was 20.6% higher at R$ 1.2 billion, compared to the R$ 980 million observed in the third quarter of 2022.

Gross profit stood at R$ 412 million, with a growth of 32.8%, and gross margin at 34.9%, a 3.2 p.p. advancement.

In the quarter, Ambipar reported a negative net financial result of R$ 189.9 million, resulting from the increase in net debt during the compared period and the still high basic interest rate during the period, according to the statement.

As of September 30, 2023, the net debt is R$ 4.494 billion, with cash and equivalents of R$ 2.5827 billion. The company’s net debt increased by 45.9%, while leverage remained practically stable at 2.99 times compared to 2.82 times in 3Q22.

Source: Infomoney

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