Marcopolo maintains growth in a challenging year

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Marcopolo S.A. has reported that it maintained its growth trajectory in the first nine months of 2019 and recorded consolidated net revenue of BRL 3.121 billion, an increase of 5.5% over the same period of the previous year. Sales to its home market in Brazil grew 16.9% and, together with business abroad, sustained the increase in revenue. Exports dropped 22.0% in the period, however despite this, net income was 18.2% higher, the firm reports.

José Antonio Valiati, CFO and Director of Investor Relations at Marcopolo said: “After eight consecutive quarters of growth, Brazilian bus production showed its first stability in absolute volumes in Q3 of this year, which had not occurred since Q3 2017. We interpreted the pause as a brief breath in front of a strong comparative base established in 3Q18 and not as an interruption of the demand recovery process.”

A good performance was reported for the Volare business unit, the national brand in the segment for vehicles up to 10,000kg, which recorded growth of 11.1%, with 2,026 vehicles manufactured against 1,824 in the previous year. Abroad, the positive highlights were subsidiaries Marcopolo México and Marcopolo Australia. The former is said to benefit from the increased production of highways, while the Australian operation, after restructuring carried out in the first months of the year,– reversed losses and reported a profit of BRL 4.8 million in 3Q19.