São Paulo – Output at the Egyptian unit of Marcopolo was up 97.8% in the first half of this year from the same period in 2012. According to the balance sheet for the first half, released this Monday (5th), from January to June 271 buses were made at the Egyptian plant, on which the bus manufacturer owns a 49% stake. In the first half of 2012, 137 vehicles were made at the unit. In quarter two this year, the Egyptian plant made 157 buses, up 84.7% from 85 units in quarter two, 2012.<\/p>\n
Marcopolo’s results also show that the company exported 991 units in quarter two, down 114.1% from 1,153 vehicles exported from April to June, 2012. In the first half, however, the result is positive: 1,749 buses were exported, up 3.4% from 1,692 units shipped from January to June 2012.<\/p>\n
The company said depreciation of Brazil’s real against the US dollar will be a positive development, because it will boost demand and raise profitability for Marcopolo exports. “As export contracts are paid at a higher dollar price, it will have a positive impact on revenues, margins, and net income for the company,” according to a communiqué containing the company’s prospects for 2013.<\/p>\n
In the first half, the company made 9,262 buses in Brazil, up 10% from the first six months of 2012, and 982 buses abroad, down one unit from January to June 2012. The company’s calculations, however, only include production at units in Mexico, Australia and South Africa. The plants in Egypt, India, Argentina and Colombia, where Marcopolo is a partner of other companies, are not factored in.<\/p>\n
Higher net income and revenues <\/strong><\/p>\n In the first half, Marcopolo posted R$ 1.761 billion (US$ 5.12 billion) in net revenues, up 12.9% from R$ 1.559 billion (US$ 679.5 million) in the same period of 2012. Net income stood at R$ 74.1 million (US$ 32.3 million), up 22.3% from R$ 60.6 million (US$ 26.4 million) in the first half of 2012. According to the communiqué, Marcopolo maintains its forecasts for 2013: investing R$ 350 million (US$ 12.5 million), posting R$ 3.8 billion (US$ 1.6 billion) in net income, and making 21,600 buses.<\/p>\n *Translated by Gabriel Pomerancblum<\/strong><\/p>\n