THE vibrate (VBBR3) reported a net profit of R$ 707 million in the second quarter of 2022, up 85.1% compared to the same period last year, according to a document sent to the market this Monday (15).
The result, however, was below the projections of analysts in research by Refinitiv, who estimated a profit of R$ 761 million.
Net revenue jumped 62.5%, to R$ 47 billion.
Adjusted Ebitda, which measures the operating result, was R$ 1.6 billion, up 58.3%. On the other hand, the Ebitda margin dropped 0.1 percentage point.
According to the company, the lift was helped by the increase in gross profit.
“The constant and exponential increase in the price of CBIOS also brought a more challenging dynamic to the company’s pricing, considering its abrupt price increase”, he informed.
The volume of fuel sales grew 4% compared to the same period last year, to 9.212 million cubic meters, highlighting the 68% increase in aviation fuel.
The company ended the second quarter with 8,273 jobs, an increase of 59 jobs compared to the first quarter and 197 jobs more than last year.
Vibra said these variations are a reflection of the return of mobility and economic activity, with the volume curve returning to normal throughout the quarter.
In general terms, the company’s results were impacted by the rise in fuel prices, amid tight global supply, combined with an increase in demand in the domestic market.
“Vibra highlights the strong contribution in this quarter of the price increase in the Petroleumallied above all to a historic increase in the refining margins of the diesel“, he said in a note, citing that, on the other hand, the scenario demanded resilience in decision-making.
“We had to review our approaches to imports, sourcing, pricing and logistics to ensure customer supply,” added the company’s president, Wilson Ferreira Jr, in the statement.
Leverage, as measured by the ratio of net debt to adjusted Ebitda, increased to 2.4x from 1.4x in the same period last year.
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