Taurus (TASA4) reported net profit of R$42.5 million in the fourth quarter of 2023 (4Q23), an amount 64.9% lower than that reported in the same period in 2022, the company reported this Tuesday (26).
The company’s results were negatively impacted by the drop in revenue and the increase in expenses in the period.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$39 million in 4Q23, a reduction of 76.5% compared to 4Q22.
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“The conditions of the weapons market, with stagnation in Brazil and resumption of more normalized levels in the North American market, after the period of exceptional demand during the pandemic, were reflected in Taurus’ operational results”, explains the company.
The adjusted EBITDA margin reached 9.3% between October and December last year, down 18.5 pp compared to the margin recorded in 4Q22.
Net revenue totaled R$419.1 million in the fourth quarter of last year, a drop of 29.9% compared to the same period in 2022.
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Gross profit reached R$118.1 million in the fourth quarter of 2023, a drop of 49.6% compared to the same period in 2022. Gross margin was 28.2% in 4Q23, a drop of 11.1 pp compared to the 4Q22 margin.
Operating expenses totaled R$90.1 million in 4Q23, an increase of 15.5% compared to the same period in 2022.
The net financial result was positive at R$7.9 million in the fourth quarter of 2023, an increase of 53.5% over the financial gains in the same stage of 2022.
On December 31, 2023, the company’s net debt was R$324.6 million, an increase of 48% compared to the same stage in 2022.
Tags: Taurus TASA4 profits R42 .5 million fourth quarter annual drop
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