Tupy (TUPY3) reported net income of R$ 180 million in the second quarter of 2022 (2Q22), a performance 470.3% higher than that recorded in the same stage of 2021, the company said on Thursday (4).
According to the company, the result is due to the growth of the operating result and the reduction of the depreciation of intangible assets, in addition to the effect of the exchange variation on the financial result.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) grew 86% in 2Q22, totaling R$345.4 million.
Revenue totaled BRL 2.529 billion in the second quarter of this year, a growth of 53.7% compared to the same period in 2021.
The adjusted Ebitda margin (Ebitda over net revenue) reached 13.7% between April and June, an increase of 2.4 percentage points (pp) compared to the margin recorded in 2Q21.
The Refinitiv projection was for a profit of R$ 110.25 million, Ebitda of R$ 315.34 million and revenue of R$ 2.411 billion.
Return on invested capital (ROIC) reached 13.6% in the second quarter of this year, an increase of 2.3 pp compared to the same period last year.
The net financial result was positive by R$6.5 million in the second quarter of 2022, reversing financial losses of R$56.4 million in the same stage of 2021.
Gross profit reached the amount of R$ 509.9 million in the second quarter of 2022, an increase of 117.1% compared to the same period in 2021. Gross margin was 20.2% in 2Q22, an increase of 6, 1 pp compared to the 2Q21 margin.
Total investments in property, plant and equipment and intangible assets were R$73 million in 2Q22, compared to R$47 million in 2Q21.
On June 30, 2022, the company’s net debt was BRL 1.6 billion, an increase of 112% compared to the same period in 2021.
The financial leverage indicator, measured by net debt/adjusted EBITDA, was 1.42 times in June/22, up 0.49 times over the same period in 2021.
Looking for a good buying opportunity? XP strategist reveals 6 cheap stocks to buy today.