Growth and recovery of operating margins in the third quarter of 2011
WEG SA, one of the world¿s largest manufacturer of electric-eletronic equipment, with five main product lines: Motors, Power, Transmission and Distribution, Automation and Coatings, announced today its results for the third quarter 2011 (3Q11) . The following financial and operating data are presented in a consolidated basis, except when otherwise indicated, in thousands of Brazilian Reais (R$) according to the current Brazilian generally accepted accounting principles, as put forward by the Brazilian applicable laws.
Net operating revenue in the third quarter of 2011 totaled R$ 1,317.5 million, corresponding to an increase of 10.8% over the same period of last year;
EBITDA was of R$ 243.7 million, representing an increase of 16.5% in relation to the previous year and of 13.1% in relation to the previous quarter. EBITDA margin showed a sequential recovery, reaching 18.5%.
Net income totaled R$ 154.6 million, with net margin of 11.7%, corresponding to an 8.8% growth in relation to 3Q10 and remaining at the same level of the previous quarter.
Investments in fixed assets totaled R$ 124.8 million in the first nine months of 2011.