Votorantim ends 2020 with net revenue of BRL16.7bn 09 April 2021 Votorantim Cimentos ended 2020 with global net revenue of BRL16.7bn (US$2.98bn), an increase of 29 per cent compared to 2019. This result can be primarily explained by the increase in sales volume in Brazil, Canada and the USA, and by the positive impact of the devaluation of the real on the results of the other regions. Consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was BRL3.8bn, an increase of 43 per cent over the previous year, with an EBITDA margin of 22.9 per cent, an increase of 2.4 percentage points compared to 2019. At the end of 2020, the company’s leverage (net debt/EBITDA ratio) was 1.96x, the best result in the last decade.