Margin normalizing with gradual market recovery
WEG S.A., 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 first quarter of 2017 (1Q17).
- Net operating revenues were R$ 2,134.2 million in the 1Q17, 11.7% lower than the 1Q16 and 10.2% lower than the 4Q16;
- EBITDA reached R$ 331.0 million and EBITDA margin reached 15.5%, 1.3 percentage points higher than the 1Q16 and 1.4 percentage points lower than the 4Q16;
- Net Income totaled R$ 257.7 million, 8.7% lower than the 1Q16 and 20.3% lower than the 4Q16. Net margin of 12.1% was 0.4 percentage points higher than the previous year and 1.5 percentage points lower than the previous quarter;
- Investments in capacity expansion and modernization totaled R$ 58.7 million in the first three months of 2017, 49% in industrial plants in Brazil and 51% in industrial facilities abroad.