Results Q4 2010
2010 fourth quarter shows consistent growth
WEG S.A., one of the world¿s largest manufacturers of electric motors and related equipment, announced today its results for the fourth quarter of 2010 (4Q10). The following financial and operating data are, except when otherwise indicated, presented in a consolidated basis, in thousands of Brazilian Reais (R$) according to the general accepted accounting principles in Brazil (BRGAAP) and as put forward by the Brazilian applicable laws.
Q4 2010 Highlights
Gross Operating Revenues reached R$ 1,504.6 million in the fourth quarter of 2010, 15.1% higher year-on-year and 6.0% higher quarter-on-quarter.
EBITDA reached R$ 224.1 million, 1.9% lower in relation to Q4 2009, but 7.1% higher over the previous quarter. EBITDA margin reached 17.8%.
Net Income reached R$ 141.5 million (net margin of 11.2%) in Q4 2010, 3.2% higher year-on-year and practically unchanged quarter-on-quarter.
Investments on fixed assets amounted to R$ 233 million in 2010. During this quarter obtained debt facilities relating to the financing of investments in new plant in India from IFC and BNDES
At the end of the quarter we announced the agreement for the acquisition of Equisul Indústria e Comércio Ltda., a Brazilian developer and manufacturer of uninterruptible power supply (UPS) systems.