Votorantim Industrial Q3 Profit Rises

Votorantim Industrial reported a rise in its net income for the third quarter. Votorantim Industrial posted quarterly net income of 578 million reais ($230 million), a 52% rise versus the year-ago period. Its revenue climbed 4% y/y to 7.4 billion reais, while revenue gained 8% versus the second quarter. Spending on fixed assets rose 19% to 594 million reais in the quarter. The company generated 1.1 billion reais in free cash flow during the quarter. EBITDA surged to 2.38 billion reais in the third quarter, or 32.2% of revenue. EBITDA margin was 21.3% in the year-ago period, and 21.6% in the second quarter.