Brazil’s Mills Posts Record Rental Revenue and EBITDA in Q1
Brazil’s largest rental company, Mills Estruturas e Servicos de Engenharia posted record rental revenue and EBITDA in the first quarter. Net revenue was R$239.9 million (about U.S. $118.5 million), a 20.5-percent year-over-year hike. Rental revenue was R$171.6 million (about U.S. $84.7 million), a 24.4-percent jump. The company posted record equipment rental revenues in its Heavy Construction, Jahu and Rental Business segments.EBITDA was a record R$102 million, an 18.2-percent year-over-year increase. Net earnings were R$39.3 milion, a 20.2-percent leap.The company invested R$120.1 million in rental equipment.Mills opened three new branches, two in the Heavy Construction business segment and one in the Rental Business segment.Mills is based in Rio de Janeiro.
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