Investor Presentaiton
Net revenue:
R$22.3B
Votorantim
Cimentos
Adjusted EBITDA:
R$5.2B
Leadership in the transition
to a low carbon economy in
the Brazilian civil construction
sector.
Visit the
Votorantim Cimentos website
In 2021, Votorantim Cimentos
reaffirmed its financial
discipline, took important
steps with regard to its ESG
agenda, demonstrated the
power of its operating leverage,
executed important strategic
moves, and confirmed the
resilience of its geographically
diversified portfolio. In addition,
it conducted initiatives that
increased its financial strength
by reducing its leverage and
lengthening its debt.
As a result of the company's
good financial health, Moody's
raised its rating from Baal to
Baa3, placing Votorantim
Cimentos in a select group of
Brazilian companies with an
investment grade rating by
the three main credit rating
agencies. The company ended
the year with net revenue of
R$22.3 billion and adjusted
EBITDA of R$5.2 billion, a 33%
and 37% increase, respectively,
compared with 2020.
The Brazilian cement market
had a positive year that
yielded good results, with an
increase in sales volumes and
prices that partially mitigated
the impact of the increase in
energy and raw material costs.
In North America, the market
remained strong, with growth
similar to 2020. The approval
of the infrastructure incentive
package by the US government
will create a positive outlook
for the cement market in the
coming years. In Europe, Asia,
and Africa, the construction
market also grew. However,
like in Brazil, the results were
impacted by an increase in
energy and raw material costs.
Despite that, the company had
positive results when compared
with 2020. In South America,
market dynamics were positive
in Uruguay, where Votorantim
Cimentos continues to have
good results, and showed signs
of recovery in Argentina and
Bolivia.
The company made strategic
moves through acquisitions
and investments, primarily in
markets with strong currencies
and good perspectives for
growth and value creation.
Votorantim Cimentos concluded
the business combination with
Caisse de dépôt et placement
du Québec (CDPQ) in Canada,
involving McInnis Cement. The
new combined entity now has
an installed cement production
capacity of 7.8 million tonnes.
In addition, the company carried
out two other transactions that
reinforced its position in North
America: it increased its stake in
the concrete company Superior
Materials, taking control of the
operation, which allowed it to
expand its concrete business
and its presence in the Great
Lakes region; and it acquired
an aggregates company, Valley
View, in the United States.
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