Randon reports record third quarter 2020
By Jim Gibbins - 1st January 2021
Brazil - Trailer and truck body builder and CV components supplier, Randon Empresas S.A. (Randon Group) of Caxias do Sul, RS achieved net profits of BRA116m in the third quarter 2020, which corresponds to a 47.7% increase compared with the same period in 2019. Claiming to be the best ever quarter in the history of the company, net revenue totalled BRA1.5bn (USD280m), an increase of 10.5% on the same quarter last year, while EBITDA (earnings before taxes, financial expenses and depreciation of assets) totalled BRA270m (USD50m), an increase of 40.5% and also a new record.
Daniel Randon, CEO of the Randon Group of companies, said the performance was due to the recovery of the markets in which it operates – truck body and trailer manufacture and automotive parts – as well as specific actions taken to reduce costs and reduce general expenses. He also pointed out the company had benefited from investments in innovation and technology, as well as favourable exchange rate for exports.
