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.