Alpargatas (ALPA4) recorded a net profit of R$24.7 million in the first quarter of 2024, reversing a loss of R$199.7 million from a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was R$99.8 million, compared to negative R$211.6 million. The adjusted Ebitda margin rose 34.1 pp (percentage points), to 10.7%.
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Net revenue totaled R$931.8 million in the first quarter of 2024, growth of 3.2% compared to the same period in 2023.
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Alpargatas (ALPA4): results
Gross profit reached R$425.4 million in the first quarter of 2024, an increase of 9.4% compared to the same period in 2023. Gross margin was 45.7% in 1Q24, an increase of 2. 6 pp compared to the 1Q24 margin.
Operating expenses reached R$384.5 million in the quarter, a drop of 40.5% on an annual basis, mainly due to the provision for loss of receivables from the sale of ASAIC recognized in 1Q23.
The net financial result was negative R$11.9 million in the first quarter of 2024, a 45% reduction over the financial losses in the same stage of 2023.
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On March 31, 2024, the company’s net debt was R$291.6 million, compared to R$890.2 million a year earlier.
The financial leverage indicator, measured by net debt/adjusted Ebitda, was 1.1 times in March/24, a drop of 0.4 pp compared to the same period in 2023.
Tags: Alpargatas ALPA4 reverses losses profit R24 .7 million quarter
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