Brazilian lubricants producer and distributor Moove saw profit rise to a record-high in the second quarter of the year as sales rose faster than costs.Moove’s profit before interest, taxes, depreciation and amortization (EBITDA) rose to 302.45mn Brazilian real ($60.6mn) in the three months to end-June, up 30pc from year-earlier levels.Moove, which produces and distributes products under the Mobil and Comma brands, saw profit rise for a fifth straight quarter as sales continued to rise at a faster pace than costs.Revenue got a boost from a 30pc rise in sales volumes to a record-high 168,000mᶟ (149,000t) in the second quarter.The higher volume helped boost Moove’s share of Brazil’s domestic lubricants market to a record high.Profit also benefited from the integration of new businesses, especially in the US.Moove bought US lubricants distributor and marketer PetroChoice in first-half 2022.Moove, which also imports and distributes base oils in Brazil’s domestic market, saw its EBITDA profit margin rise to 12.02pc in the second quarter.The margin rose from 10.65pc in the first three months of the year to the highest since the first quarter of 2021..Brazil’s June lube demand rises
Brazilian lubricants producer and distributor Moove saw profit rise to a record-high in the second quarter of the year as sales rose faster than costs.Moove’s profit before interest, taxes, depreciation and amortization (EBITDA) rose to 302.45mn Brazilian real ($60.6mn) in the three months to end-June, up 30pc from year-earlier levels.Moove, which produces and distributes products under the Mobil and Comma brands, saw profit rise for a fifth straight quarter as sales continued to rise at a faster pace than costs.Revenue got a boost from a 30pc rise in sales volumes to a record-high 168,000mᶟ (149,000t) in the second quarter.The higher volume helped boost Moove’s share of Brazil’s domestic lubricants market to a record high.Profit also benefited from the integration of new businesses, especially in the US.Moove bought US lubricants distributor and marketer PetroChoice in first-half 2022.Moove, which also imports and distributes base oils in Brazil’s domestic market, saw its EBITDA profit margin rise to 12.02pc in the second quarter.The margin rose from 10.65pc in the first three months of the year to the highest since the first quarter of 2021..Brazil’s June lube demand rises
