Tupy has achieved record revenues while announcing the strategic acquisition of Teksid's iron casting business, enhancing its production capabilities and market access.

Target Information

Tupy, a Brazilian multinational, concluded the second quarter of 2021 with a remarkable achievement, recording a revenue of R$ 1.645 billion, marking the highest net revenue in its history. This represents a 7% rise compared to the first quarter of the same year, where revenues had already reached R$ 1.5 billion. Year-on-year, this figure shows an impressive increase of 155%. In addition to revenue growth, Tupy also demonstrated significant improvements in profitability, reporting a profit of R$ 31 million, a considerable turnaround from a loss of R$ 15 million in the previous quarter.

The company's Return on Invested Capital (ROIC) stood at 11.3%, compared to 6.7% in the first quarter of 2021 and just 2.2% in the previous year's second quarter. Maintaining strong financial discipline, Tupy ended the period with a net debt of R$ 772 million, resulting in a net debt to adjusted EBITDA ratio of 0.93.

Industry Overview in Brazil

The Brazilian industry, particularly the manufacturing sector, has been experiencing fluctuations in cost and raw material availability. Despite the challenges, there has been a noticeable rebound that began in the last quarte