São Paulo – WEG saw its export revenues in US dollars climb 19% year-on-year in quarter two, from USD 406.3 million to USD 483.6 million. The Santa Catarina-based company is one of the world’s leading electronics manufacturers and its sales destinations include Arab countries.
Revenue from foreign sales in Brazilian real also went up, by 32.8%, from BRL 1.3 billion in Q2 2017 to BRL 1.73 billion in Q2 this year.
“Growth remains concentrated in short-cycle equipment sales, and opportunities are now coming up in projects requiring long-cycle equipment, in the oil and gas and pulp and paper industries,” WEG said in a report regarding its foreign market outlook.
Q2 2018 also saw WEG post its strongest net operating income ever, BRL 3 billion, up 34% from a year ago. It said sales in Brazil were fueled by an improved economic scenario and a stronger contribution from new businesses, like its solar power plants and steam turbine acquisitions.
Translated by Gabriel Pomerancblum
