Ferreycorp, a leading corporation in the capital goods and complementary services sector, presented its consolidated results as of September 30, 2021.
Sales reached S/ 4,428 million, 38% higher than those of the same period in 2020 of S/ 3,204 million, and 3% higher than those of the same period of 2019 equal to S/ 4,313 million. Revenues for the third quarter of 2021 amounted to S/ 1,708 million, higher by 40.0% compared to the third quarter of 2020, equal to S/ 1,220 million, and higher by 6.7% compared to the third quarter of 2019, equal to S/ 1,601 million.
Gross margin was 27.1% in the third quarter of 2021, higher than 25.5% in the same quarter of the previous year and 22.1% in the third quarter of 2019.
Gross profit reached S/ 462 million, showing an increase of 48% compared to the third quarter of 2020; compared to the third quarter of 2019, the result was also higher by 31% (S/ 353 million), as a result of higher sales and better margin.
The operating margin for the third quarter of 2021 stood at 13.7%, higher than that presented in the same quarter of 2020 equal to 9.2% and of 2019 equivalent to 7.7%, mainly due to the better gross margin and to the fact that the increase in expenses was lower than the increase in sales, compared to both periods.
The EBITDA margin achieved in the third quarter of 2021 was 17.5%, higher than 13.1% and 10.9% in the third quarter of 2020 and 2019, respectively. EBITDA reached S/ 299 million, showing an increase of 87% compared to the same period of 2020 equal to S/ 159 million, and an increase of 71% compared to the third quarter of 2019 (S/ 175 million). This EBITDA margin shows the corporation's capacity to improve results due to market recovery, higher demand, and better operating and financial structure.
In the third quarter of 2021, net income of S/ 86 million was obtained, 54% and 166% higher than that recorded in the third quarter of 2020 of S/ 56 million and 2019 of S/ 32 million, respectively.
The company announced, "Since the launch of the Merco Empresas ranking in Peru, already a decade ago, Ferreyros has been part of the ten companies with the best corporate reputation at the national level. The leading heavy machinery company was recognized for this trajectory in the presentation of results of this prestigious business reputation monitor in its 2021 edition. Ferreyros remained in eighth place on the list and as the leader in its sector. Merco is one of the main reference monitors in the world. In this new edition, the ranking has more than 23,000 respondents, including company executives, opinion leaders, financial analysts, journalists, business professors, public officials, NGO representatives, trade unions, social network managers, and consumer associations."
