Votorantim Cimentos ended the second quarter of 2024 with a higher net revenue from greater volumes and supported by geographic and product diversification. The Brazilian company recorded global net revenue of R$7 billion in the second quarter, a 1% increase compared to the same period last year.
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In 2023, Votorantim Cimentos globally emitted 556 kg of CO2 per tonne of cement produced, 4% less than in 2022. The company’s 2030 decarbonization target, approved by the Science Based Target initiative (SBTi), is 475 kg of CO2 per tonne of cement.
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Votorantim Cimentos, Cemex and Heidelberg Materials were recognized for leadership in corporate transparency and performance on climate change by global environmental nonprofit CDP.
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Votorantim Cimentos reported that it ended the third quarter of 2023 with a net profit of R$ 824 million ($169.4 million), an increase of 36% compared to the income obtained in the prior-year period.
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Votorantim Cimentos ended the second quarter of 2023 with R$470 million net profit, a 28% increase compared to R$366 million in the same period last year. The company’s global net revenue in the quarter was R$6.9 billion, an increase of 3% compared to the prior-year period, primarily due to the volume added by the recently acquired Malaga plant in Spain.
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Votorantim Cimentos signed a $150 million financing agreement linked to sustainability indicators with the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group.
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Votorantim Cimentos ended the first quarter of 2023 with a net profit of R$78 million, reversing the R$317 million loss in the prior-year period. The company’s global net revenue in 1Q23 totaled R$5.8 billion, an increase of 18% compared to the same period in 2022.
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After more than four years at the helm of Votorantim Cimentos, Marcelo Castelli has resigned to become a member of the board of directors. Current COO Osvaldo Ayres Filho will succeed him.
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Votorantim Cimentos ended 2022 with positive results in its decarbonization journey. Globally, the company emitted 579 kg of CO2 per tonne of cement produced, a 3% reduction compared to 2021.
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