Let’s (), the SIMPAR GROUP TRUCK, MACHINERY AND EQUIPMENT RENTAL COMPANY, registered a consolidated net profit of R $ 213.2 million in the fourth quarter of 2024. The result excludes the dealership business, which was dismembered from the company in December last year, with the creation of Auto (). The figure is 17.6% higher than that obtained a year earlier, also taking into account only continued, leasing and selling operations.
The profit before interest, taxes, depreciation and amortization (EBITDA) was R $ 882.4 million. The value grew 27.6% on annual basis, with the boost of the lease business, according to Voma.
The company’s consolidated net revenue in the quarter was R $ 1.2 billion, up 20.3% over the same period as the previous one. The lease business of Vaomos generated R $ 1.122 billion for the company in the period, with an annual growth of 27.4% the sale of assets, in turn, added R $ 164.8 million (and R $ 705 million in the year).
In the accumulated 2024, the net profit of Let’s was R $ 779.2 million, with an annual increase of 56.6%. Ebitda was $ 3.395 billion, growing 31.8%. And net revenue totaled R $ 4.699 billion, advancing 32.4%.
The company’s rental fleet ended last year with 51.6 thousand assets, 12.9% more than in 2023.
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Intensive in capital, we will acquire vehicles to honor lease and provides total investment of around R $ 5 billion this year, while monitors its leverage. At the end of last year, the relationship between net debt and Ebitda rose again slightly to 3.3 times.
In splitting dealerships, part of the company’s cashier was with the business incorporated by Automob. “Of course, there was also the highest interest pressure. […] But it is a marginal variation, ”said Gustavo Couto, CEO of Goi, Infomoney.
“We will have a process of disruption to the company in 2025,” said the executive. Couto explains that capex Predicted total, only R $ 2.1 billion will be new money. “The other $ 2.9 billion are coming from assets that are already indoors.”
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The CEO refers to the always new, a modality that redirects used with low mileage for new rental contracts. “I bring new revenue, improving working capital, with an investment I made in previous years.”
The extension of rental contracts beyond the standard period of five years is another practice that has helped to better manage its investments. For 2025, the company expects to rent R $ 1 billion assets for its always new and extend another R $ 700 million in contracts with assets that are already in use by customers.
The executive states that after the split of the dealership business, we will gained more freedom of action, as expected.
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“We have already signed contracts with the largest dealership networks, which until then saw us as competitors and we are seeing increased sales with these business alliances,” he explains.
