São Paulo – The storage silo manufacturing company Kepler Weber, based in the state of Rio Grande do Sul, posted a net income of R$ 17.3 million (US$ 7.4 million) in the first half this year, up 334.6% from the first half of 2012, the company informed this Thursday (15th) on disclosing its results. From January through June, revenues were up 45% to R$ 248.3 million (US$ 107.1 million). According to the company, exports were down due to political uncertainty in Venezuela and drought in Latin American countries.
Kepler Weber posted R$ 21.1 million (US$ 9.1 million) in export revenues in quarter two, down 6.3% from quarter two 2012. In the first half, export revenues stood at R$ 33 million (US$ 14.2 million), down 27.8% from the first half of 2012. The share of exports in total revenues was down from 27% in the first half of 2012 to 13% in the first half this year.
Despite having seen a decline in exports, Kepler Weber claims it has attained the status of a major player in Latin America, and that it has gained “new positions” in emerging agricultural countries in Africa, the Middle East and Eastern Europe. “Over the past five years, on average, exports have accounted for 22.8% of net income for Kepler Weber.”
Despite the decline in foreign sales, Kepler Weber saw an increase in revenues in Brazil. Revenues from storage products were up 138.5% in quarter two and 82.3% in the first half. From January to June, revenues from storage products stood at R$ 196.1 million (US$ 84.6 million), equivalent to 80% of total revenues.
*Translated by Gabriel Pomerancblum
