Vamos (VAMO3)’s net profit rose 8.2% in 1QR24, reaching R$183 million compared to R$169.1 million in 1QR23. Compared to 4QR23, profit fell 6.4% due to the R$ 195.5 million obtained in that quarter.
Net revenue rose 2.6% in 1QR24, reaching R$1.7 billion compared to R$1.6 billion in 1QR23. Compared to 4QR23, net revenue increased 18.5% due to R$ 1.4 billion in that quarter.
Ebitda for 1QR24 rose 24.4% to reach R$819.8 million compared to R$659.2 million for 1QR23. Compared to 4QR23, the indicator rose 24% due to R$661 million in that quarter.
Contracted CAPEX was a record, with confirmed orders for new rentals of R$2.025 billion in 1QR24, an increase of 16.8% compared to 1QR23, demonstrating the growth potential of the rental segment.
The record CAPEX deployed was R$1.8 billion in 1Q24, 36.2% higher than the implementation volume in 1Q23, and the expansion of the leased fleet to 44.7 thousand assets, 90% of the total fleet.
Assets available for lease in March/24 totaled R$1.37 billion, reflecting strategic purchases given demand. In the used car segment, net revenue grew 56.4% in relation to 1QR23, totaling R$150.3 million in 1QR24, with a gross margin of 23.4% on the sale of assets (25.7% for trucks and mechanical horses ).
Let’s go (LET’S GO3)
Management informed, in a note, that it started 2024 with consolidated results that robustly demonstrate the evolution and potential of our businesses.
“In the rental segment, we achieved a double record quarter: we recorded a record volume of assets deployed to our clients and a record demand for assets for new contracts, highlighting the continued health of this segment and our unique profitability in the sector. Additionally, this quarter we consolidated an unprecedented purchase and subsequent leasing operation for the same customer, with no purchase option at the end (known as sale and leaseback), involving more than 2,700 trucks under long-term contracts, which will further strengthen our position in the rental sector. At the end of the quarter, we reached almost 50 thousand assets in our total rental fleet, with a utilization rate of over 90%”, he highlighted.
The company
The company is a Brazilian company that operates in the truck rental and sale of used assets sector. Its main focus is on leasing trucks for various purposes, serving a wide range of customers in different segments of the economy.
In addition, the company also sells pre-owned assets, taking advantage of the potential for these assets to appreciate in the secondary market. Vamos SA seeks to offer efficient and flexible solutions for its rental operations, contributing to the development of its customers and the sustainable growth of their businesses.
