The spitting (FESA4) reported a net profit of R$236.6 million in the fourth quarter of 2021, up 530% compared to the same period in 2020, the company said Friday (4).
“The rally was driven by several factors, such as maintaining the high level of the dollar, which generated positive effects on revenue and negative effects on derivative and non-derivative financial instruments and also on a small portion of costs,” says the company.
The adjusted value of Ebitda, which measures operating result, was R$314 million, an increase of 216%. In 2021, the company reported R$935 million in adjusted Ebitda, an increase of 130%.
Total net revenue was R$682 million in the fourth quarter, an increase of 47.1%. During 2021, the company recorded R$2.3 billion in revenue, an increase of 47.3%.
“This positive result stems from a 44.7% increase in the average dollar rate of ferroalloys, a 1.5% growth in sales volume and a 5.1% increase in the dollar rate,” Verbasa says.
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