Rodobens’ profit grows in the 4th quarter, but revenues decline as vehicle sales decline

Rodobens made a net profit of 152.4 million reais in the fourth quarter of last year, up 6.2% from the same period last year, according to data released Wednesday by the company that operates in financial services segments and automotive retail.

Net revenues, in turn, fell 7.6%, to 1.6 billion reais, under pressure from the result of automotive retail trade, which fell 10.9%, while financial services increased by 6.1%. 5,687 vehicles were sold in the period, compared to 8,091 units in the same three months of 2022.

From October to December, Rodobens said 4.7 billion reais in business was generated, a decline of 3.8% year-on-year.

Operating profit as measured by EBITDA (earnings before interest, taxes, depreciation and amortization) fell 3% to 172 million reais, but the margin increased from 10.3% to 10.8%.

The financial result jumped from 3.3 million to 16.5 million reais, with an improvement in revenues and a decrease in expenses in this budget line. The company also showed net cash of 204.5 million reais in the fourth quarter compared to net debt of 486.7 million a year earlier.

Source: Terra

Rose

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