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Ramada profit rises 143% through June - Industry

Ramada profit rises 143% through June – Industry

Ramada Investimentos e Indústria recorded in the first half of this year a net profit of about 6.2 million euros, revealing a growth of 143.2% compared to the net profit obtained in the same period last year, the company announced Thursday in a statement. to CMVM.

Group revenue totaled €66.4 million as of June, registering a 35% growth over the same period in 2020.

Total costs amounted to 56.5 million, which corresponds to a year-on-year increase of 28.3%.

This brought Ramada’s EBITDA to €9.8 million, up 92.6% from the first half of 2020. EBITDA margin rose to 14.8%, an increase of 4.4 percentage points over the previous year.

The total financial results for this period amounted to 510 thousand euros, recording a decrease of 12.1%.

Regarding the business segments, the group revealed that in the first half of the year, total revenue from the industry segment amounted to 62.7 million euros, an increase of 37.8% over last year. EBITDA increased 207.4% to 6.9 million. The net profit of this segment was about 4.2 million euros, an increase of 594.7% over the same period of the previous year.

According to the group, steel activity in the first half of the year registered a significant growth, largely due to the strong contribution of the metalworking sector. On the other hand, the mold sector has been negatively affected by the crisis in the auto industry, as a result of component shortages and large-scale layoffs.

“The noticeable delay in launching new electric vehicle projects has had a disastrous effect on the Portuguese die-casting industry, which relies heavily on the automotive sector, resulting in the need to operate well below installed capacity,” Ramada notes.

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The company also notes that the demand for raw materials saw a significant increase in the middle of the semester with persistently high prices and material scarcity on the part of some suppliers. “The sudden rise in scrap and iron ore prices in the middle of the semester, the closure of import quotas from the third EU countries and the difficulties of sea transportation have led to a sharp rise in the prices of various types of steel,” he affirms in the statement.

In the real estate segment, total revenue was €3.6 million, down 0.2% compared to the same period in 2020, with EBITDA at €2.9 million, up 2.5% year-on-year. The net profit of this segment was 2 million euros, which is 4.1% more.

In the first half of the year, Ramada Group invested 2.5 million euros, and its nominal net debt on June 30 was about 16 million euros.