Kepler Weber (KEPL3) Q2 2024 earnings summary

Executive summary

• Achieved 16.6% year-over-year net revenue growth in Q2 2024 (R$327.8 million) and 17.2% in H1 (R$708.1 million), driven by assertive strategies and diversification across all segments.

• EBITDA reached R$63.3 million in Q2 (19.3% margin, up 17.7% YoY) and R$153.7 million in H1 (21.7% margin), reflecting operational excellence.

• Net profit totaled R$37.0 million in Q2 (11.3% margin, up 10.9% YoY); H1 net profit was R$89.2 million (12.6% margin).

• Strong performance in Farms, International Business, and Ports & Terminals segments, supported by favorable market conditions and strategic diversification.

• Record Net Promoter Score (NPS) of 72, with 79% of customers as promoters, reflecting strong customer service.

Financial highlights

• Q2 2024 net revenue up 16.6% YoY to R$327.8 million; H1 2024 up 17.2% YoY to R$708.1 million.

• Q2 EBITDA of R$63.3 million (19.3% margin, +17.7% YoY); H1 EBITDA of R$153.7 million (21.7% margin, +17.2% YoY).

• Q2 net profit R$37.0 million (11.3% margin, +10.9% YoY); H1 net profit R$89.2 million (12.6% margin, +5.4% YoY).

• Robust cash position: R$513.4 million gross, R$225.1 million net at June 2024.

• ROIC at 43.5% in Q2, up 0.5 p.p. from Q1.

• Dividend payout of R$30 million in July 2024; payout ratio 33.66% for H1 2024.

Outlook and guidance

• Positive demand expected across all segments for H2 2024, maintaining high activity levels and strong entry into 2025.

• Focus on operational improvements, profitability, and alignment with strategic plan for sustainable growth.

• Anticipates continued investment in plant expansion, automation, and new product development.

• State-sponsored agriculture financing plan (Plano Safra) for 2024/2025 increased by 17.3%, supporting future investments.