IRB Brasil RE generates R$352 million in operating cash in 2Q21
For the fourth consecutive quarter, IRB showed improvement in operating cash flow. Between April and June, the company’s accumulated total of BRL 352 million, doubled compared to the previous quarter (BRL 176 million) and was about 225% higher compared to the same period in 2020 (loss of BRL 282 million ).
“Another relevant data noted, in the quarterly period of the IRB, was the advance of operational efficiency in terms of costs and quality of services that will be leveraged with innovation and new tools. In the second quarter of 2021, the efficiency ratio was 5.5% against 4.3% in the same period last year. In the comparison of the first six months, there was growth from 4.6% to 6.1%”, says Werner Suffert, Executive Vice President of Finance and Investor Relations.
For this reason, since last year, there has been a trend of recovery due to the review of the portfolio, the discontinuation of non-profit contracts abroad and the focus on profitable businesses in Brazil.