Skip to main content

Votorantim posts Q3 loss

Published by
World Cement,

Reuters has reported on Votorantim Industrial SA's third-quarter net loss announcement.

The reasons cited for the loss were the impact of a deep economic recession and rising US dollar debt-servicing costs after a currency plunge.

The group posted a net loss of 81 million reais, dropped sharply from a profit of 578 million reais in the previous year.

Earnings before interest, taxes, depreciation and amortisation fell by one-third to 1.6 billion reais compared to the same point last year, when Votorantim booked one-time earnings from an energy auction.

Brazil's currency fell to an all-time low in Q3, driving up Votorantim's gross debt by 7 billion reais to 30.1 billion reais at the end of September.

Votorantim's capital spending increased by 55% to 920 million reais in the quarter, half of which was intended to expand capacity, particularly at cement plants outside of Brazil.

Edited from source by Joseph Green. Source: Reuters

Read the article online at:

You might also like



WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »



World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »


Embed article link: (copy the HTML code below):