2018.07.1814:04:00UTC+00WEG: Net Income Increases 23.7% In 2Q18, To R$ 336.6 Million

Brazilian electric-electronic equipment company WEG net profit grew 23.7% in the second quarter of 2018 compared to the same period of the previous year, to R$ 336.6 million.

The company's net sales revenue increased 34% on the same basis of comparison, to R$ 3.057 billion. Revenue from the domestic market increased 35.7% to R$ 1.319 billion. Revenue obtained abroad rose 32.9% in local currency, to R$ 1.738 billion, while increased 19% in foreign currency, to US$ 483.6 million.

WEG's EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 25.6% in the second quarter compared to the same period last year to R$ 465,515 million. The EBITDA margin decreased by 1 percentage point to 15.2%.