WEG export revenues up 19%

The Brazilian electronics manufacturer grossed USD 483.6 million with foreign sales in the second quarter of this year.

From the Newsroom

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


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