Energy

Brazil's WEG Q3 profit up 13%

Brazilian equipment manufacturer WEG posted net profits 13% up in the third quarter of 2014

Recharge
31/10/2014 19:02
Visualizações: 1040 (0) (0) (0) (0)

Brazilian equipment manufacturer WEG posted net profits 13% up in the third quarter of 2014, as it gained sales of generation and electrical infrastructure kit – including wind turbines and small-hydro generators – amid a slowing economy.

 

Net profits rose to R$258.6m ($107.9m) from a year-earlier R$228.9m.

 

Net revenues rose to R$2.1bn in the quarter, up 17% from R$1.8bn in the same period a year ago.

 

Although the company didn't give details, the generation, transmission and distribution division accounted for 24% of total revenue, from 23% a year ago.

 

An increase in sales from abroad – which account for about 50% of the total – also contributed to the result.

 

At the same time, the sale of industrial electrical equipment and machines fell to 58% of total revenue from 60% by the same comparison.

 

Brazil's economy is slowing down and is expected to grow just 0.3% this year.

 

The company said that the biggest demand came from renewable energy generation equipment, including wind and small-scale hydro, as Brazil moves to reduce dependence on large hydro to avoid the effects of droughts on power generation.

 

“We continue to note growing demand for wind power generation and an increase in feasibility of other generation technologies including small hydro, biomass and even solar power,” the company said in a statement.

 

The expectation is that the demand for this equipment continues to grow into 2015.

 

WEG is currently producing 2.1MW turbines licensed from the US's Northern Power Systems in 2013.

 

The company says the turbine has very high local content, making it possible to finance it through the National Development Bank (BNDES).

 

WEG has currently sold 167MW of these machines, accounting for about 1% of total number of wind farms built and under construction through to 2018 in Brazil.

Most Read Today
see see
FIRJAN
Agrega + Indústria brings together entities, companies, ...
29/07/26
SOG 2026
ABPIP brings to Sergipe Oil & Gas a debate on strengthen...
28/07/26
Event
BR Aviation presents its portfolio of customized solutio...
23/07/26
Royalties
Royalties: amounts referring to May production distribut...
23/07/26
Fuels
Fuel and lubricants sector registers 1.8% drop in June, ...
22/07/26
IBP
Studies point to redundancy of the export tax and extra ...
22/07/26
PPSA
7th Spot Auction: PPSA markets cargoes from Atapu and Ba...
20/07/26
Results
Union oil production reaches 244 thousand barrels per da...
17/07/26
State of Ceará
Natural gas arrives in Cariri (CE) and strengthens econo...
16/07/26
Terminals
Vast announces contract extension with PETRONAS Brasil u...
15/07/26
International
War, oil and the dollar: how global fluctuations impact ...
13/07/26
ANP
Third-party access to natural gas flow pipelines and pro...
10/07/26
Agreement
ANP and Petrobras sign agreement to bring 335 offshore w...
07/07/26
Logistics
Vast Infraestrutura and Petrobras strengthen partnership...
07/07/26
IBP Positioning
Change of the instrument does not fix the illegalities o...
07/07/26
Energy Summit
Energy Summit 2026: Embrapii technologies strengthen Bra...
22/06/26
Energy Summit
Biodiesel and renewable fuels move to the center of the ...
22/06/26
Natural Gas
ANP extends public consultation on the calculation of th...
22/06/26
Rio de Janeiro
Firjan’s Oil Yearbook in Rio highlights that positive pr...
22/06/26
Biomethane
With a market five times larger since 2020, the biometha...
22/06/26
Petrobras
Petrobras approves investment in bio-jet fuel and renewa...
22/06/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.