São Paulo – The Middle East lost ground in exports by Randon, based in Caxias do Sul, Brazil. The conglomerate owns ten companies in the vehicle, implement, auto part and financial service sectors. The region went from a 3.1% share of total exports to 2.7% in 2018. Overall exports climbed 35.7% in Brazilian reals and 17.3% in US dollars, to BRL 670.2 million and USD 182.2 million.
The biggest foreign markets for Randon are Mercosur and Chile, which took in a combined 42.4% of the conglomerate’s exports in 2018. Nafta countries accounted for 31.7%, with South and Central America (except Mercosur and Chile) ranked third at 13.8%. The former two regions lost share in Randon exports last year, while South and Central America gained 4.9 percentage points, a result driven by semi-trailer sales to Cuba and Peru.
Randon is in a joint venture whereby it supplies CKD semi-trailers for Egypt Power to assemble and distribute in Egypt. Randon reported USD 111.4 million in revenue from non-local operations, up 32.1% from 2017. Exports plus non-local revenue came out to USD 293.7 million last year.
The conglomerate posted BRL 6 billion in gross revenue in 2018, up 43.3% year-on-year. Consolidated net revenue climbed 45.1% to BRL 4.3 billion. Net profit was BRL 151.7 million. A report from Randon imputed the hike in revenue to auto part sales in Brazil, coupled with stronger sales of trucks, as well as exports and non-local results.
Translated by Gabriel Pomerancblum
