Engine components company, TUPY report strong results
By Jim Gibbins - 1st October 2019
Brazil - Fundições Tupy SA of Joinville, Santa Catarina, an engine block and components manufacturer, reported a 17.9% increase in revenue to BRA2.68bn (USD670m) for the first half of 2019 compared with BRA2.27bn (USD568m); net income increased by 33% to BRA139.8m (USD35m). This performance was despite a slight 0.5% decrease in sales volume to 300,900 tons (302,400 tons), which was due to lower export volumes: sales volume exports of its hydraulics segment fell almost 30% from 9,400t to 6,400t, while its transport, infrastructure and agriculture segment volumes contracted only 1.3%, to 233,700 tons.
In the Brazilian market, TUPY sales ended the semester with 7.5% higher volume, driven by the positive performance in the transportation, infrastructure and agriculture segments, which together consumed more than 60,500 tons of products.
