São Paulo – Last Wednesday (14th), silo and warehouse manufacturing company Kepler Weber announced a net profit of R$ 7.3 million in quarter three this year, down 11.1% from the same period last year. In the first nine months this year, net profit stood at R$ 11.2 million, same as in 2011.
Orders were also down. As of September this year, the company had an order backlog of R$ 238 million, down 9% from September 2011. In a press statement, Kepler Weber vice president Olivier Colas said late-2011 drought, crisis in Europe and the United States, and the Chinese growth slowdown were reflected in the amount of orders the company received during the period.
Output in quarter three reached 13,790 tonnes, down 21% from the 17,527 tonnes manufactured in quarter three, 2011. Net income reached R$ 94.8 million from July to September, down 25% from the same period in 2011.
Kepler Weber exports were down 17% in quarter three, at R$ 19 million, and accounted for 20% of net income. In the first nine months, however, exports were up 16% from 2011 at R$ 64.7 million, equivalent to 24% of the R$ 266 million net income from January through September.
The company’s president Anastácio Fernandes Filho expects performance to improve in late 2012 and in 2013 due to increased commodities prices, increased credit for agriculture, and the record high crop expected for this year.
As of 5:09 pm last Wednesday, Kepler Weber stock was down 3.67% and was being traded for R$ 11.01. The São Paulo Stock Exchange closed the day down 2.1%.
*Translated by Gabriel Pomerancblum
