Vibra (VBBR3) sees profits grow more than 5 times in Q4, reaching R$3.3 billion

Vibra (VBBR3) recorded net profits of R$3.297 billion in the fourth quarter of 2023 (4Q23), an amount 482.5% higher than the amount recorded in the same period of 2022, the fuel distributor reported on Monday (4).

The company explains that the result “depends on better operating performance and better financial results as well as tax recovery that occurred in that period.”

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$2,328 billion in the fourth quarter of 2023, an increase of 54.5% compared to the fourth quarter of 2022.

Adjusted EBITDA margin reached R$254 (m3) between October and December last year, an increase of 69.2% compared to the margin recorded in 4Q22.

Total adjusted net revenues amounted to R$43.846 billion in the fourth quarter of last year, a decrease of 3.1% compared to the same point in 2022.

Adjusted gross profit reached R$2,592 billion in the fourth quarter of 2023, an increase of 49.5% compared to the same period in 2022.

Adjusted operating expenses totaled R$868 million in the fourth quarter of 2023, an increase of 60.1% compared to the same period in 2022.

The net financial result was negative by R$50 million in the fourth quarter of 2023, a decrease of 87.6% from the financial losses at the same point in 2022.

Vibra ends 2023 with net debt of R$9.5 billion, compared to net debt of R$13.7 billion at the end of 2022, a decrease of R$4.2 billion (-30.8%) in the year. A direct result of the strong cash generation in this period, which enabled a reduction in total debt of R$1.7 billion (-9.6%), as well as an increase of R$2.5 billion in 2018.
Availability (+60.8%).

The leverage index, measured by net debt/adjusted EBITDA, was 1.1 times on December 23, a decrease of 1.6 percentage points (percentage points) compared to the same period in 2022.