Q2 2024 Aeris Industria e Comercio de Equipamentos para Geracao de Energia SA Earnings Call (English, Portuguese) Transcript
Key Points
- Aeris Industria E Comercio de Equipamentos para Geracao de Energia SA (BSP:AERI3) reported an 8.8% increase in gross margin due to improved operational efficiency.
- The company achieved a significant 66% increase in EBITDA compared to the first quarter, with a margin of 16.7%.
- There was a 25% reduction in financial expenses, contributing to better financial management.
- Aeris ended the quarter with a strong cash balance of BRL 977.2 million, sufficient to cover short-term obligations.
- The company is preparing for international market expansion, particularly in the US, which is expected to significantly grow in the coming years.
- Revenue fell by 18% compared to the first quarter of 2024, and there was a 36.3% drop year-to-date compared to the first half of 2023.
- The average megawatt of wind turbines decreased from 4.9% to 4.7% due to the end of a contract with Siemens Gamesa.
- There is a noted reduction in new projects in the domestic wind sector, impacting revenue negatively.
- The company reported a loss of BRL 3.1 million for the quarter.
- Aeris faces challenges in the wind industry, with a reduction in the Brazilian market and delayed growth in the US and European markets.
(interpreted) Good morning, everyone, and thank you for waiting. Welcome to Aeris' earnings conference call for the second quarter of 2024. Here with us today, there are Alexandre Sarnes Negrao, CEO; Jose de Sousa Azevedo, CFO and Investor Relations. This event is being recorded. (Operator Instructions)
Before proceeding, let me mention that statements made in this call regarding the business outlook of the company, operational and financial projections and goals are based on the beliefs and assumptions of Aeris management.
Forward-looking statements are not a guarantee of performance. They involve risks and uncertainties because they relate to future events, and therefore, depend on circumstances that may or may not occur. Macroeconomic conditions, industry conditions and other operating factors could also cause results to differ materially from those expressed in such forward-looking statements.
Before starting the presentation, on slide 3, we have today's agenda. So we start with the highlights of the second quarter and talk about operational performance, then the results of
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