VLI Wraps 2024 First Half with Strong Financial Performance Indicators

VLI has sustained its growth trajectory, reporting significant financial results for the first half of 2024. The company achieved a net revenue of BRL 5.0 billion, a 14% increase compared to the first half of 2023, and an EBITDA of BRL 2.66 billion, marking a 19% rise. These results reflect the company’s focus on operational safety and efficiency, driven by investments in innovation and disciplined management.

Operational cash flow reached BRL 2.44 billion, with BRL 1.84 billion reinvested into the business, a 44% increase from 2023.

“VLI remains dedicated to meeting the needs of our railway and port clients while ensuring operational stability and safety for people and cargo. Additionally, the company continues its sustainable financial management, aiming to deliver returns to our investors who are shaping the future of our company and transforming national logistics,” said Fábio Marchiori, CEO and CFO of VLI.

VLI also saw strong performance in road cargo movements through its internally developed Trato platform, which optimizes the logistics chain for trucks accessing terminals for cargo transfer to the railway system. The platform recorded 1.37 million tons in the first half of the year, a 62% increase from 2023.

Achievements

In the first half of 2024, VLI marked several key milestones. The company set a historical record for sugar movement during the 2023/2024 harvest, which began in April last year and concluded in March. The 6.1 million tonnes transported by rail and the 5.1 million tonnes handled at the Multimodal Port Terminal Luiz Antonio Mesquita (Tiplam) represented, respectively, a 24% and 28% increase over the previous record set during the 2022/2023 harvest.

Another significant event was the delivery of 168 new hopper cars for cargo transport on the North-South Railway (FNS). These assets, acquired from Greenbrier Maxion of Hortolândia (SP) in a BRL 200 million deal, also included three locomotives for regional operations.

Additionally, VLI issued two debentures totaling BRL 1.85 billion during the same period. BRL 1 billion was raised through its subsidiary VLI Multimodal (VMM) and BRL 850 million through the North-South Railway (FNS). The VMM funds will be used for investments in the Ferrovia Centro-Atlântica (FCA), while the FNS funds will finance the repurchase of FENS11 (the company’s first issuance) and replenish cash reserves. Both issuances received a AAA rating from Fitch Ratings.

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