MRS Logistics, railway concessionaire in the Southwest region, ended the third quarter of the year with a net profit of $68.5 million, an increase of 17.6% over the same period of the previous year. From July to September, the company transported 42.9 million tons, a record for a quarter. The company operated over 14 million tons per month, for three consecutive months. As a result, the revenue also reached historic records. The net income in the period was $359 million, an increase of 8.8% over the third quarter of 2012.
Eduardo Parente, president of MRS, said that the expectation for the fourth quarter is also positive, despite the rainy season starting in December. Seasonably, the second semester is usually busier than the first one for MRS. Parente stated that the results achieved in the third quarter of the year reflect the investments made by the company to increase capacity and productivity.
MRS maintains the perspective of investing $440 million in 2013, from which $281.5 million were applied from January to September. In the fourth quarter, the investments may accelerate to fulfill the yearly goal, predicted Parente. MRS is controlled by Vale, Usiminas, Gerdau and CSN.
The results of the period marked a recovery on transported volumes, after a bad first quarter. And a second quarter, where the volumes were back to normal levels. Parente said that the earnings before interest, taxes, depreciation and amortization (Ebitda) of the third quarter were $150.5 million, an increase of 17% over the same period in 2012, shows the best performance of the company, despite the difficulties. That is because they faced a strong inflation pressure in their main cost items this year. Diesel increased by 9.6% during the year, according to MRS. The adjustment given to employees was 8.16%, one percent above the INPC in 12 months.
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We were able to maintain stable total costs, through gains in productivity, despite the rise in items such as fuel and manpower, stated Parente. In the third quarter the average net rate was $8.36 per ton for MRS, 3.3% above the registered rate of the same period in the previous year. In nine months, the rate was practically the same, $8.45 per ton, stable over the same period in 2012. Despite the strong recovery in the third quarter, MRS results in the year still suffered the negative impact of the bad performance of the first quarter. The net profit in nine months was $140 million, 4.9% lower than the same period in 2012.
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