Ambipar Emergency Response 6-K, filed Nov 15, 2024
Ambipar Emergency Response (AMBIQ)
6-K
2024-11-15
For: 2024-09-30
View Original
Added on
April 06, 2026
About this 6-K
Ambipar Emergency Response filed this 6-K on November 15, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2024
Commission File Number: 001-41638
AMBIPAR EMERGENCY RESPONSE
(Exact name of registrant as specified in its charter)
Avenida Angélica, nº 2346, 5th Floor
São Paulo, São Paulo, Brazil, 01228-200
Tel: +55 (11) 3429-5000
São Paulo, São Paulo, Brazil, 01228-200
Tel: +55 (11) 3429-5000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7):
Yes ☐ No ☒
Ambipar Parent released results for the third quarter of 2024.
Ambipar Emergency Response informs the market that on November 13th, 2024, its parent company, Ambipar Participações e Empreendimentos S.A. (“Ambipar Parent”), announced its results for the nine months ended September 30, 2024.
Excerpts of this announcement relating to Ambipar Emergency Response (the “Company”) are furnished as Exhibit 99.1 to this Report on Form 6-K. Financial information relating to the Company contained therein has not been audited or reviewed in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB) or any other auditing standards. While such financial information has been prepared in good faith and based on information available at the time of preparation, no assurance can be made that actual results will not change as a result of the Company’s management review of results and other factors. The Company’s results for nine months ended September 30, 2024 are subject to finalization and closing of the Company’s accounting books and records (which have yet to be performed) and should not be viewed as a substitute for financial statements prepared in accordance with IFRS. Accordingly, you should not place undue reliance upon the financial information contained in Exhibit 99.1. While we do not expect that such financial information will differ materially from the Company’s actual results for the nine months ended September 30, 2024, we cannot assure you that such financial information will be indicative of the Company’s actual financial results for the nine months ended September 30, 2024 or for any future periods.
EXHIBIT INDEX
Exhibit No. | Description of Exhibit | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 14, 2024
| AMBIPAR EMERGENCY RESPONSE | ||||||||
By: | /s/Thiago da Costa Silva | |||||||
Name: | Thiago da Costa Silva | |||||||
Title: | Director | |||||||
Exhibit 99.1
AMBIPAR PARTICIPAÇÕES E EMPREENDIMENTOS S.A. – EARNINGS RELEASE 3Q24
RESPONSE SEGMENT
3Q24 HIGHLIGHTS
Net Revenue
| (R$ MM) | 3Q23 | 2Q24 | 3Q24 | 9M23 | 9M24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | Var. 9M24 9M23 | ||||||||||||||||||
| Net revenue | 641.1 | 740.5 | 1,011.6 | 1,849.4 | 2,431.2 | 57.8 | % | 36.6 | % | 31.5 | % | |||||||||||||||
| Brazil | 242.5 | 359.1 | 503.2 | 650.8 | 1,156.7 | 107.5 | % | 40.1 | % | 77.7 | % | |||||||||||||||
| North America | 314.3 | 296.5 | 401.0 | 936.3 | 1,001.1 | 27.6 | % | 35.2 | % | 6.9 | % | |||||||||||||||
| Europe | 34.3 | 38.0 | 62.1 | 116.1 | 140.2 | 81.2 | % | 63.5 | % | 20.7 | % | |||||||||||||||
| LatAm (Ex Brazil) | 50.0 | 46.9 | 45.3 | 146.2 | 133.1 | (9.4 | %) | (3.4 | %) | (9.0 | %) | |||||||||||||||
Net revenue reached a record of R$1,011.6 million in 3Q24, 57.8% higher than 3Q23, due to the result in the northern hemisphere and the contribution of Fleet Demobilization of R$165.6 million in Brazil.
The Response segment continues to demonstrate its ability to generate revenue globally by providing preventive and emergency services in response to customer demand in international value chains. Excluding the effect of Fleet Demobilization that impacted revenue in Brazil, the share of revenue from overseas would have grown to 58.6% of the total. We continue to see opportunities to replicate the Response business model and to deepen operations in the international geographies where we operate, notably North America.
Brazil
| Brazil | 3Q23 | 2Q24 | 3Q24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | |||||||||||||||
| Subscription | R$ mm | 28.7 | 71.8 | 63.9 | 122.6 | % | (11.0 | %) | ||||||||||||
| Field Services | R$ mm | 225.4 | 323.0 | 309.8 | 37.4 | % | (4.1 | %) | ||||||||||||
| High Impact Emergencies | R$ mm | 16.7 | 9.5 | 5.9 | (64.7 | %) | (37.9 | %) | ||||||||||||
| Adjusted Gross Revenue¹ | R$ mm | 270.9 | 404.3 | 379.7 | 40.0 | % | (6.1 | %) | ||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | N.A. | 5,105.0 | 5,121.0 | N.A. | 0.3 | % | |||||||||||||
| Available Hours | thousand hours | N.A. | 3,369.0 | 3,380.0 | N.A. | 0.3 | % | |||||||||||||
| Hours Worked | thousand hours | N.A. | 2,362.0 | 2,514.0 | N.A. | 6.4 | % | |||||||||||||
Field Service Hours | thousand hours | N.A. | 2,360.0 | 2,513.8 | N.A. | 6.5 | % | |||||||||||||
Hours in High Impact Emergencies | thousand hours | N.A. | 1.6 | 0.2 | N.A. | (89.6 | %) | |||||||||||||
| Region Utilization Rate | % | N.A. | 70 | % | 74 | % | N.A. | 4 p.p. | ||||||||||||
| Revenue Per Hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 136.9 | 123.2 | N.A. | (10.0 | %) | |||||||||||||
| High Impact Emergencies | R$/h | N.A. | 5,821.1 | 34,911.2 | N.A. | 499.7 | % | |||||||||||||
| Revenue Per Hour | R$/h | N.A. | 171.2 | 151.0 | N.A. | (11.8 | %) | |||||||||||||
1- Adjusted for the sale of assets.
Exhibit 99.1
In 9M24, net revenue growth reached 77.7%, mainly due to subscription contracts and field service activities. Revenue from the mobilization of bioengineering contracts, remediation of contaminated areas, environmental monitoring programs, as well as services for port and maritime support services, readiness for oil spill containment, and tank and ship cleaning, were important in this increase.
A major emergency response was provided to protect forests threatened by fires and drought. We acted to mitigate the risk of fires that could threaten the production and stock of biological assets of pulp and paper clients. The highest average ticket in this segment is the result of the use of helicopters with specialized and sophisticated firefighting equipment and manpower for this type of service.
LatAm
| LatAm | 3Q23 | 2Q24 | 3Q24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | |||||||||||||||
| Subscription | R$ mm | 6.8 | 7.3 | 6.2 | (8.8 | %) | (15.1 | %) | ||||||||||||
| Field Services | R$ mm | 54.9 | 48.1 | 44.1 | (19.7 | %) | (8.3 | %) | ||||||||||||
| High Impact Emergencies | R$ mm | 0.0 | 0.0 | 0.0 | NM | NM | ||||||||||||||
| Gross Revenue | R$ mm | 61.7 | 55.5 | 50.3 | (18.5 | %) | (9.4 | %) | ||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | N.A. | 844.0 | 840.0 | N.A. | (0.5 | %) | |||||||||||||
| Available Hours | thousand hours | N.A. | 557.0 | 554.0 | N.A. | (0.5 | %) | |||||||||||||
| Hours Worked | thousand hours | N.A. | 457.0 | 445.0 | N.A. | (2.6 | %) | |||||||||||||
Field Service Hours | thousand hours | N.A. | 457.0 | 443.0 | N.A. | (3.1 | %) | |||||||||||||
Hours in High Impact Emergencies | thousand hours | N.A. | 0.0 | 0.0 | N.A. | NM | ||||||||||||||
| Utilization Rate | % | N.A. | 82 | % | 80 | % | N.A. | (2 p.p.) | ||||||||||||
| Revenue Per Hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 105.3 | 99.6 | N.A. | (5.4 | %) | |||||||||||||
| High Impact Emergencies | R$/h | N.A. | 0.0 | 0.0 | N.A. | NM | ||||||||||||||
| Revenue Per Hour | R$/h | N.A. | 121.4 | 113.6 | N.A. | (6.4 | %) | |||||||||||||
The decrease in gross revenue in 3Q24 vs. 3Q23 is due to lower field service activity and fewer routine emergency occurrences, resulting in fewer hours worked.
The LatAm region operates with higher utilization levels due to the greater presence of outsourcing contracts in highways and mining companies, and therefore presents more stable margins in longer periods such as in 9M24.
Exhibit 99.1
Europe
| Europe | 3Q23 | 2Q24 | 3Q24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | |||||||||||||||
| Subscription | R$ mm | 1.3 | 3.1 | 1.1 | (15.4 | %) | (64.5 | %) | ||||||||||||
| Field Services | R$ mm | 41.5 | 42.2 | 46.7 | 12.5 | % | 10.7 | % | ||||||||||||
| High Impact Emergencies | R$ mm | 0.0 | 5.4 | 26.4 | NM | 388.9 | % | |||||||||||||
| Gross Revenue | R$ mm | 42.8 | 50.7 | 74.2 | 73.4 | % | 46.4 | % | ||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | N.A. | 132.0 | 132.0 | N.A. | — | % | |||||||||||||
| Available Hours | thousand hours | N.A. | 87.0 | 87.0 | N.A. | — | % | |||||||||||||
| Hours Worked | thousand hours | N.A. | 64.0 | 59.0 | N.A. | (7.8 | %) | |||||||||||||
Field Service Hours | thousand hours | N.A. | 64.0 | 45.0 | N.A. | (29.7 | %) | |||||||||||||
Hours in High Impact Emergencies | thousand hours | N.A. | 0.3 | 13.5 | N.A. | NM | ||||||||||||||
| Utilization Rate | % | N.A. | 73 | % | 68 | % | N.A. | (5 p.p.) | ||||||||||||
| Revenue per hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 664.4 | 1,031.7 | N.A. | 55.3 | % | |||||||||||||
| High Impact Emergencies | R$/h | N.A. | 15,989.2 | 1,946.3 | N.A. | (87.8 | %) | |||||||||||||
| Revenue Per Hour | R$/h | N.A. | 794.0 | 1,261.5 | N.A. | 58.9 | % | |||||||||||||
Gross revenue grew 73.4% versus 3Q23 in Europe, driven by increases in field services and High Impact Emergencies. The region has increased its cross-selling capacity by selling routine emergency services and industrial cleaning and has been a reference for oil spills in international waters. This quarter, there was a major contribution to fighting fires and containing oil and fuel spills, originating from terrorist attacks in the Red Sea. Ambipar sent teams and materials from England and Brazil to respond to this human and environmental incident.
In 9M24, the European division has been working on the continuous integration of its operations and commercial strength, reinforcing Ambipar's ability to provide global services.
North America
| North America | 3Q23 | 2Q24 | 3Q24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | |||||||||||||||
| Subscription | R$ mm | 24.9 | 25.7 | 31.4 | 26.2 | % | 22.1 | % | ||||||||||||
| Field Services | R$ mm | 293.9 | 254.6 | 355.6 | 21.0 | % | 39.7 | % | ||||||||||||
| High Impact Emergencies | R$ mm | 8.5 | 18.2 | 26.6 | 214.2 | % | 45.9 | % | ||||||||||||
| Gross Revenue | R$ mm | 327.3 | 298.5 | 413.6 | 26.4 | % | 38.6 | % | ||||||||||||
| Workforce | # people | N.A. | 1,271.0 | 1,313.0 | N.A. | 3.3 | % | |||||||||||||
| Available Hours | thousand hours | N.A. | 838.9 | 866.6 | N.A. | 3.3 | % | |||||||||||||
| Hours Worked | thousand hours | N.A. | 527.6 | 541.2 | N.A. | 2.6 | % | |||||||||||||
Field Service Hours | thousand hours | N.A. | 512.7 | 515.0 | N.A. | 0.4 | % | |||||||||||||
Hours in High Impact Emergencies | thousand hours | N.A. | 14.9 | 26.2 | N.A. | 76.0 | % | |||||||||||||
Region Utilization Rate | % | N.A. | 63 | % | 62 | % | N.A. | (0.4 p.p.) | ||||||||||||
| Field Services | R$/h | N.A. | 496.5 | 690.5 | N.A. | 39.1 | % | |||||||||||||
| High Impact Emergencies | R$/h | N.A. | 1,222.0 | 1,012.8 | N.A. | (17.1 | %) | |||||||||||||
| Revenue Per Hour | R$/h | N.A. | 171.2 | 151.0 | N.A. | (11.8 | %) | |||||||||||||
Gross revenue growth in North America of 26.4% versus 3Q23 reflects a positive performance mainly in the US.
Exhibit 99.1
After a second quarter with performance below expectations in the region, we continued with the strategy of reallocating equipment and personnel to serve different customers in Canada, in addition to focusing on ramping up bases and opening new locations in the USA.
In responding to High Impact Emergencies, cross-selling between crisis management consulting services for the shipping industry and our ability to perform field services made it possible to provide cleaning, decontamination and debris removal services in a maritime accident that has been ongoing since 2Q24.
Cost breakdown
| R$ MM | 3Q23 | 2Q24 | 3Q24 | 9M23 | 9M24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | Var. 9M24 9M23 | ||||||||||||||||||
| Personnel | 260.0 | 319.3 | 347.3 | 751.1 | 959.3 | 33.6 | % | 8.8 | % | 27.7 | % | |||||||||||||||
| Third parties | 102.7 | 91.6 | 119.3 | 283.7 | 290.1 | 16.2 | % | 30.2 | % | 2.3 | % | |||||||||||||||
| Maintenance | 22.7 | 30.9 | 25.7 | 67.2 | 82.9 | 13.4 | % | (16.9 | %) | 23.2 | % | |||||||||||||||
| Trips | 19.7 | 18.6 | 21.7 | 56.1 | 53.4 | 10.2 | % | 16.5 | % | (4.8 | %) | |||||||||||||||
| Freight | 1,2 | 1.1 | 2.6 | 3.5 | 4.8 | 117.1 | % | 132.5 | % | 38.0 | % | |||||||||||||||
| Rentals | (21.2) | 0.0 | (0.2) | 1.3 | 0.0 | (99.2 | %) | N.M. | (99.4 | %) | ||||||||||||||||
| Fuel | 16.1 | 17.7 | 22.9 | 41.5 | 58.9 | 41.8 | % | 29.0 | % | 42.0 | % | |||||||||||||||
| Materials | 4.6 | 9.8 | 32.8 | 17.7 | 53.3 | 619.1 | % | 236.3 | % | 201.9 | % | |||||||||||||||
| Telecommunications | 3.7 | 5.3 | 6.3 | 10.2 | 14.9 | 71.9 | % | 20.0 | % | 45.8 | % | |||||||||||||||
| Marketing | 4.6 | 7.5 | 6.4 | 13.0 | 16.8 | 38.8 | % | (14.7 | %) | 29.5 | % | |||||||||||||||
| Taxes | 1.1 | 6.7 | 10.4 | 16.1 | 20.2 | 889.4 | % | 55.7 | % | 25.2 | % | |||||||||||||||
| Others | 33.6 | 31.7 | 167.0 | 92.8 | 243.1 | 396.6 | % | 426.4 | % | 162.1 | % | |||||||||||||||
| Total Cost | 448.8 | 540.3 | 762.4 | 1,354.0 | 1,797.7 | 69.9 | % | 41.1 | % | 32.8 | % | |||||||||||||||
| Adjusted Total Cost | 448.8 | 540.3 | 636.4 | 1,354.0 | 1,671.7 | 41.8 | % | 17.8 | % | 23.5 | % | |||||||||||||||
In this quarter, costs behaved in accordance with the business mix, except for Others, where costs due to fleet demobilization contributed approximately R$126M or 12% of net revenue.
Excluding the effects of demobilization, costs grew 41.8% versus 3Q23 and 17.8% versus 2Q24, still exceeding revenue growth. This is partly due to the mix effect and the recognition of costs related to 2Q24 and measured in 3Q24.
Exhibit 99.1
CAPEX Response
| Capex Response (R$ MM) | 3Q23 | 2Q24 | 3Q24 | 9M23 | 9M24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | Var. 9M24 9M23 | ||||||||||||||||||
| Maintenance | 36.0 | 22.7 | 28.9 | 84.8 | 98.8 | (19.5 | %) | 27.3 | % | 16.6 | % | |||||||||||||||
| %Net Revenue Response | 5.6 | % | 3.1 | % | 2.9 | % | 4.6 | % | 4.1 | % | (2.7 pp) | (0.2 pp) | (0.5 pp) | |||||||||||||
| Expansion | 39.6 | 26.7 | 64.6 | 101.9 | 106.1 | 63.1 | % | 141.7 | % | 4.2 | % | |||||||||||||||
| %Net Revenue Response | 6.2 | % | 3.6 | % | 6.4 | % | 5.5 | % | 4.4 | % | 0.2 pp | 2.8 pp | (1.1 pp) | |||||||||||||
| Capex Response Total | 75.6 | 49.5 | 93.6 | 186.7 | 205.0 | 23.8 | % | 89.1 | % | 9.8 | % | |||||||||||||||
| %Net Revenue Response | 11.8 | % | 6.7 | % | 9.3 | % | 10.1 | % | 8.4 | % | (2.5 pp) | 2.6 pp | (1.7 pp) | |||||||||||||
| Regional segmentation | 3Q23 | 2Q24 | 3Q24 | 9M23 | 9M24 | Var. 3Q24 3Q23 | Var. 3Q24 2Q24 | Var. 9M24 9M23 | ||||||||||||||||||
| Brazil | 23.9 | 11.2 | 40.5 | 55.8 | 51.7 | 69.5 | % | 260.6 | % | (7.3 | %) | |||||||||||||||
| Latam (ex Brazil) | 15.7 | 0.0 | 0.0 | 34.3 | 0.0 | (100.0%) | NM | (100.0%) | ||||||||||||||||||
| Europe | 0.0 | 0.7 | 0.9 | 0.3 | 1.8 | N.A. | 26.3% | 500.7% | ||||||||||||||||||
| North America | 0.0 | 14.8 | 23.2 | 11.5 | 52.6 | N.A. | 57.0% | 357.3% | ||||||||||||||||||
| % CAPEX of revenue by segment | ||||||||||||||||||||||||||
| Brazil | 9.9 | % | 3.1 | % | 8.1 | % | 8.6 | % | 4.5 | % | (1.8 pp) | 4.9 pp | 1.3 pp | |||||||||||||
| Adjusted Brazil | 9.9 | % | 3.1 | % | 12.0 | % | 8.6 | % | 5.2 | % | 2.1 pp | 8.9 pp | 2.1 pp | |||||||||||||
| Latam (ex Brazil) | 31.5 | % | 0.0 | % | 0.0 | % | 23.5 | % | 0.0 | % | (31.5 pp) | 0.0 pp | 0.0 pp | |||||||||||||
| Europe | 0.0 | % | 1.9 | % | 1.5 | % | 0.3 | % | 1.3 | % | 1.5 pp | (0.4 pp) | (0.6 pp) | |||||||||||||
| North America | 0.0 | % | 5.0 | % | 5.8 | % | 1.2 | % | 5.3 | % | 5.8 pp | 0.8 pp | 0.3 pp | |||||||||||||
| %Adjusted NR Response | 11.8 | % | 6.7 | % | 11.1 | % | 10.1 | % | 9.0 | % | (0.7 pp) | 4.4 pp | (1.0 pp) | |||||||||||||
In 3Q24, the addition of fixed assets in Response was R$93.6 million, with an increase in CAPEX for expansion in Brazil and North America. In Brazil, the highlights were the acquisition of 3 new small aircraft for service in remote areas, and the acquisition of assets in mobilization of bioengineering contracts and environmental monitoring program. In North America, new vehicles were acquired in the USA to increase service capacity on the same bases.