Brazil-based multinational, and newly re-branded, Randoncorp, has reported a successful first quarter with a consolidated net revenue 7.3 per cent up from the same time last year.
The trailer and equipment manufacturer closed 2023’s first quarter with 2.7 billion BRL in consolidated net revenue, which it attributed to the company’s business diversification and its internationalisation strategy.
Consolidated EBITDA advanced 10.2 per cent when compared to 2022 first three months, reaching 442.2 million BRL. Among the main factors that boosted these figures, the company said, was the increase in revenue from the foreign market, totalling $111 million USD, an increase of 11.1 per cent when compared to 2022’s first quarter.
“With growing revenues in hard currencies and in the aftermarket, investments in productivity and capturing synergies between our companies, we achieved a quarter with good results and margin expansion, even in a scenario of political and economic uncertainties,” said Randoncorp CEO, Sérgio L. Carvalho.
In April, the company released its guidance for 2023, projecting consolidated net revenue between 10.5 billion BRL and 12 billion BRL, with an estimated revenue in the foreign market between 520 million USD and 570 million USD.
The company’s accelerated growth is also marked by its new corporate branding aimed to internationalise the company’s presence and provoke a visionary attitude grounded on investment in innovation.