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Welcome to our bi-weekly newsletter, where we bring you the latest updates from Votorantim and our portfolio companies, along with market insights and news.
Quarterly results
Our portfolio companies have started releasing their third-quarter results. Check out the highlights.
banco BV: best quarter in its history
Return on equity (ROE) reached 15%, a 6 percentage point increase, and its credit portfolio grew to BRL 90.4 billion, up 6%. So far this year, BV has issued BRL 1.3 billion in insurance premiums, positioning it as one of the country’s largest insurance brokers. The bank has led vehicle financing for 11 consecutive years, with a 12.5% growth in the light and used vehicle portfolio compared to 3Q23. BV also remains the leader in auto equity loan and solar panel financing.
Grupo CCR: record movement in Q3
Posted an 11.7% increase in adjusted net income, reaching BRL 560 million. Adjusted net revenue totaled BRL 3.78 billion, up 10.7%. Investments rose 57.9% in the period, totaling BRL 2.101 billion. The group saw record movement in its highways, urban mobility assets, and airports for a third quarter.
Votorantim Cimentos: positive results and higher sales volume
Reported a net income of BRL 1 billion, a 24% increase compared to 3Q23. Global net revenue reached BRL 7.6 billion, driven by strong performance in Europe and Asia and stability in Brazil. Consolidated adjusted EBITDA was BRL 2.2 billion, up 11%, with global cement sales totaling 10 million tons, a 3% increase.
Auren Energia: increase in net income
Reported a net income of BRL 270.8 million, reversing a loss of BRL 838.1 million from the same period in 2023. Adjusted EBITDA reached BRL 484.3 million, up 6.9%, and net revenue hit BRL 2.046 billion, a 25.8% year-over-year increase.
CBA | Companhia Brasileira de Alumínio: solid results
Recorded net revenue of BRL 2.1 billion, a 15% increase compared to Q3 2023. Aluminum sales reached 129,000 tons (+8%), and net revenue totaled BRL 2.1 billion (+19%). Adjusted EBITDA jumped 789% to BRL 409 million, with the company reversing a 3Q23 loss of BRL 263 million to a net income of BRL 87 million this quarter.
Nexa Resources: positive outlook
Net revenue rose 9% from 3Q23 to USD 709 million, with a net income of USD 6 million. Adjusted EBITDA surged 111% to USD 183 million. Zinc production remained stable, while lead and silver production grew by 2%. Nexa’s outlook remains positive, supported by rising metal prices, especially zinc.
CCR wins Rota Sorocabana bid
Grupo CCR won the Rota Sorocabana bid, a 460-km network spanning 12 roads in São Paulo’s southeastern region. The 30-year concession contract includes BRL 8.8 billion in investments for road modernization, including the duplication of 98 km, creation of 52 km of additional lanes, as well as new side roads, access points, and other improvements. This achievement strengthens Grupo CCR’s presence and leadership in São Paulo.
Market recognitions
Auren and Hypera are among 16 companies honored by the 30% Club Brazil Award, recognizing companies that have exceeded 30% female representation on their Boards of Directors. In the latest Gender Balance report from the 30% Club Brazil and PwC, women held 20.6% of board seats across the 96 companies in the IBrX 100 index on B3. Additionally, Votorantim Cimentos’ HR director, Cinthia Bossi, was named HR of the Year – Latin America in the 2024 Most Admired CEOs and HRs awards by Grupo Gestão RH.