Frasle Mobility's New Positioning and Randoncorp Investments
Financial results
GRI 201-2
We closed the year with consolidated net revenue of R$11.2 billion, 23.1% higher than the
previous year. Consolidated EBITDA came to R$1.5 billion, 13.5% higher than in 2021, and the
EBITDA margin was 13.5%, a reduction of 1.2 percentage points.
Among the factors that impacted this result are:
> Strong demand from the truck and semi-trailer markets;
> Pass-through of inflation throughout the year, reflecting the increase in average sales prices;
> New sources of revenue through the expansion of production capacity and the acquisition
and incorporation of companies;
> Good performance in the aftermarket;
> Expansion of revenues in the foreign market;
> A diversified business model, with access to new geographies and an increased portfolio.
In relation to the foreign market, we closed 2022 with US$436.5 million, an increase of 37.9%
when compared to 2021 (US$316.4 million). These sales represented 20.2% of the Company's
consolidated net revenue in 2022, an increase of 1.3 percentage points compared to 2021.
Net income recorded at the end of the year was R$471.7 million, 32.4% less than the previous
year. The drop in the comparison is explained mainly by the recognition of non-recurring tax
credits recorded in 2021, which affect the comparison base.
Over 2022, we have invested R$1.2 billion to continue our continuous improvement process and
expand our operations.
The consolidated net debt totaled R$2.9 billion, with a leverage ratio of 1.94x (Net Debt/EBITDA
of the last twelve months). Excluding Banco Randon results, net debt in the period was R$1.6
billion, with leverage of 1.08x EBITDA.
The financial data were audited by a specialized company, as stated in the Management Report.
ECONOMIC HIGHLIGHTS
Total Gross Revenue Total¹
Consolidated Net Revenue
International Market Revenues
US$2
2022
2021
A%
16,188,683 13,269,421
11,152,417 9,057,457
22.0%
23.1%
436,463
316,399
37.9%
Consolidated Gross profit
Gross Margin (%)
Consolidated EBITDA
2,624,762
23.5%
2,268,352
15.7%
25.0%
-1.5 p.p.
1,504,964
1,326,464
13.5%
EBITDA Margin
13.5%
14.6%
Adjusted EBITDA
Adjusted EBITDA Margin
Consolidated Net Profit
Net Margin (%)
1,510,443
1,337,376
-1.2 p.p.
12.9%
13.5%
14.8%
471,719
697,876
-1.2 p.p.
-32.4%
Results per Share R$
4.2%
1.43
7.7%
-3.5 p.p.
2.12
-32.5%
FINANCIAL HIGHLIGHTS
2022
2021
A%
Net Debt
Consolidated Net Equity
Investments³
2,744,765
2,520,219
8.9%
1,221,200 586,893 108.1%
2,925,301 2,542,175
1,594,320
15.1
1,409,314
13.1%
1.94 x
1.92 x
1.5%
1.08 x
1.08 x
0.2%
18.7%
33.9% -15.2 p.p.
14.5%
16.4%
-1.9 p.p.
Net Debt (Without Randon Bank)
Leverage
Leverage (Without Bank)
ROE (last 12 months)
ROIC (last 12 months)
Amounts in R$ Thousand, unless otherwise indicated.
1 No elimination of intercompany sales. 2 Exports + Revenues Abroad
Capex + Non-Organic + Paid-in Capital.
3
VALUE CREATION
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