Investor Presentaiton
Votorantim Cimentos had higher
sales volume in all regions
where it operates and positive
price dynamics, especially in
Brazil. Nexa also benefited from
the positive effect of a higher
sales volume, combined with
the positive effect of metal
prices. At CBA, the results were
driven by the higher price of
aluminum.
Consolidated adjusted EBITDA
totaled R$11.5 billion, an
increase of 70% compared
with 2020, and was the highest
result obtained by Votorantim in
its entire history.
Votorantim ended the year
with consolidated net income
of R$7.1 billion, compared
with a net loss of R$3.1 billion
in 2020. The company also
benefited from the positive
effect of R$4.5 billion related
to the recognition of a 15%
interest in the long steel
business of ArcelorMittal
Brasil S.A. In compliance with
accounting rules, this interest
is recognized as a financial
instrument measured at fair
value through profit or loss.
At the end of 2021, gross
debt totaled R$25.0 billion,
remaining stable in relation to
2020. Cash, cash equivalents,
and financial investments
totaled R$16.6 billion, of which
33% are in reais.
In September, Votorantim
ended its US$200 million
revolving credit line. On the
same day, Votorantim Cimentos
and CBA concluded negotiations
for two new revolving credit
lines (US$250 million for
Votorantim Cimentos and
US$100 million for CBA). These
credit lines, both maturing in
2026 and not yet disbursed,
strengthened Votorantim's
consolidated liquidity position,
which totaled R$18.7 billion in
December 2021.
Year-end net debt was
R$10 billion, 12% lower than in
December 2020, and financial
leverage, measured by the net
debt to adjusted EBITDA ratio,
was 0.87x, the lowest since
2008.
NET REVENUE
In BRL billions
By company (%)
49.0
8
35.4
16
44
2020
2021
In BRL billions
28
Votorantim Nexa CBA Votorantim Acerbrag
Cimentos
Energia
ADJUSTED EBITDA
By company (%)
11.5
51
15
6.7
33
46
2020
2021
Votorantim Nexa
Cimentos
CBA Acerbrag Others
26
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