2024 Financial Results: Strong Performance Despite Challenges
Revenue Growth and Export Success
The fourth quarter of 2024 saw a significant improvement in global revenue, with an 11.1% increase to 31,170 Mtnd. Local sales experienced a modest 0.6% growth to 13,801 Mtnd, while exports surged by 21.1% to 17,368 Mtnd. For the entire year, total sales rose by 12.9% to 100,543 Mtnd. Foreign markets absorbed 54,407 Mtnd, representing an 18.0% year-over-year increase, while the local market achieved a revenue of 46,137 Mtnd, up 7.4% compared to 2023.
Production Growth and Efficiency
Production also saw a notable increase, totaling 885,975 standard battery equivalents in 2024. The first and last quarters of the year recorded the best yields, unlike the period between April and September.
Debt Reduction and Investment
Total debt decreased by 23.3% to 77,108 Mtnd, with a significant reduction in short-term credits (-26.7% to 50,231 Mtnd) and medium- to long-term credits (-16.2% to 27,299 Mtnd). The company invested a limited amount of 2,356 Mtnd last year.
Customs Sanction Concerns
Despite these positive results, the market has not forgotten the issue of the 234 Mtnd customs sanction imposed on the company, related to the old battery matter. This penalty is equivalent to almost 20 times the company's market capitalization. Until there is news about this penalty, it will be challenging to convince investors of a smooth exit from the battle with Customs.
