Votorantim Cimentos posted net income of R$ 692 million in the second quarter of 2021, reversing the R$ 153-million loss in the same period last year. The company's global net revenue in 2Q21 was R$ 5.8 billion, an increase of 50% compared to 2Q20, as a result of an increase in sales volume and favorable price dynamics in all regions where it operates.
The second quarter of 2021 was marked by sales growth in several markets where Votorantim Cimentos operates. The company's global cement sales totaled 9.8 million tonnes in 2Q21, 31% more than the 7.5 million tonnes sold in 2Q20. In addition to the economic recovery in some countries and growth in sectors such as civil construction and infrastructure, it is important to note that 2Q20 represented a low basis for comparison, as a result of the measures to restrict operations and movement of people in several countries in the second quarter of last year, after the World Health Organization (WHO) declared the COVID-19 pandemic.
Votorantim Cimentos ended the second quarter with adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 1.5 billion, up 110% over the same period last year, and an EBITDA margin of 27%, an increase of eight percentage points over 2Q20. These numbers are the result of the company's positive sales volume and operational excellence. Leverage, measured by the net debt/adjusted EBITDA ratio, was 1.58x, down 0.38x compared to December 2020, in line with the company's financial policy.
