Alpargatas generated revenue of over 3 billion Brazilian real (539 million dollars) in the first nine months of 2021, representing a 35 percent increase year-over-year. Of this amount, the company said in a release, 1 billion Brazilian real (180 million dollars) came from international operations of Havaianas, the company’s leading global brand in open shoes.
During the period under review, the company reported net income of 389.5 million Brazilian real (70 million dollars), a 498 percent increase year-over-year.
“3Q21 results show Havaianas’ strength, with growth in international markets and in Brazil. For a second consecutive quarter, the brand broke historical records in terms of volume and net revenues with EBITDA growth. We took an important step in expanding our portfolio with the successful launch of Havaianas casual sneakers and rising penetration of sandals,” said the company’s CEO Beto Funari.
The company added that in Brazil, where Havaianas is deeply consolidated and sells more than one pair per capita per year, net revenue climbed 10 percent. Internationally, the brand experienced year-over-year growth rates of 23 percent in volume, 8 percent in revenue and 167 percent in EBITDA in the third quarter of 2021.
With good results and robust cash generation, Alpargatas has announced that it will anticipates cash distribution amounting to 150 million Brazilian real (27 million dollars).
To sustain Havaianas growth, Alpargatas has also approved the investment of 600 million Brazilian real (108 million dollars) by 2022. The amount of investment in the last two years reached 900 million Brazilian real (160 million dollars), the largest in the company’s history.
The company further said that allocation of this resource will be focused on expanding manufacturing capacity, optimizing the logistics network, intensifying the expansion of the core and beyond core portfolio in Brazil and in international markets, and sustaining the growth of digital and physical sales channels.