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Romi’S Manufacturing Performance Shows Mixed Results In Q3 2024
(MENAFN- The Rio Times) The Brazilian industrial equipment manufacturer Romi experienced significant changes in its financial performance during the third quarter of 2024.
The company's net profit dropped to R$23 million ($4.1 million), marking a 48.2% decrease from the previous year's R$44.4 million ($7.9 million).
The company's overall revenue decreased to R$264.8 million ($47.3 million), representing a 2.9% decline compared to the same period last year.
The Burkhardt + Weber Machinery division saw its revenue fall by 44% to R$16.4 million. The Cast and Machined Products division experienced a 6.7% decrease to R$46.1 million.
Despite these declines, the Romi Machinery unit showed positive growth with a 4.3% increase in revenue, reaching R$202.2 million ($36.1 million). The company highlighted its growing machine rental business as an increasingly important revenue stream.
The company's EBITDA reached R$34.2 million ($6.1 million), showing a 38.6% decrease compared to the third quarter of 2023.
The EBITDA margin declined from 20.4% to 12.9%. Operating expenses rose significantly by 56.1% to R$59.7 million ($10.7 million).
The order backlog showed remarkable growth, reaching R$758.5 million ($135.4 million), representing a 36.1% increase year-over-year.
The Burkhardt + Weber division led this growth with orders totaling R$379.2 million ($67.7 million), a 46% annual increase.
Romi Machinery orders grew by 29.4% to R$312.1 million ($55.7 million), while Cast and Machined Products orders increased by 19.2% to R$67.2 million. Total new orders for the quarter reached R$332.8 million ($59.4 million), showing a 15.3% annual increase.
The Romi Machinery division recorded a 34.5% increase in new orders to R$245.9 million ($43.9 million), and Cast and Machined Products saw a 16.2% rise to R$45.6 million. However, B+W's new orders decreased by 37.9% to R$41.3 million.
The company's net profit dropped to R$23 million ($4.1 million), marking a 48.2% decrease from the previous year's R$44.4 million ($7.9 million).
The company's overall revenue decreased to R$264.8 million ($47.3 million), representing a 2.9% decline compared to the same period last year.
The Burkhardt + Weber Machinery division saw its revenue fall by 44% to R$16.4 million. The Cast and Machined Products division experienced a 6.7% decrease to R$46.1 million.
Despite these declines, the Romi Machinery unit showed positive growth with a 4.3% increase in revenue, reaching R$202.2 million ($36.1 million). The company highlighted its growing machine rental business as an increasingly important revenue stream.
The company's EBITDA reached R$34.2 million ($6.1 million), showing a 38.6% decrease compared to the third quarter of 2023.
The EBITDA margin declined from 20.4% to 12.9%. Operating expenses rose significantly by 56.1% to R$59.7 million ($10.7 million).
The order backlog showed remarkable growth, reaching R$758.5 million ($135.4 million), representing a 36.1% increase year-over-year.
The Burkhardt + Weber division led this growth with orders totaling R$379.2 million ($67.7 million), a 46% annual increase.
Romi Machinery orders grew by 29.4% to R$312.1 million ($55.7 million), while Cast and Machined Products orders increased by 19.2% to R$67.2 million. Total new orders for the quarter reached R$332.8 million ($59.4 million), showing a 15.3% annual increase.
The Romi Machinery division recorded a 34.5% increase in new orders to R$245.9 million ($43.9 million), and Cast and Machined Products saw a 16.2% rise to R$45.6 million. However, B+W's new orders decreased by 37.9% to R$41.3 million.
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