WEGZY - Earnings call transcript Q1 2022

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Operator

Good morning, and welcome to the Conference Call to discuss the Earnings of WEG in the First Quarter of 2022. This call is being webcast with the accompanying slides at our Investor Relations website ri.weg.net. And after it's finished, the audio file will be available at our Investor Relations website. [Operator Instructions] Any forecasts included in this document or in forward-looking statements that may be made during the conference call about future events, business prospects, operating and financial forecasts and goals as well as to WEG's potential future growth are simply beliefs and expectations of WEG's management based on information currently available. Such statements involve risks and uncertainties and therefore, depend on circumstances that may or may not occur. materially general influence industry WEG the to that that operating and and understand in results may included factors future differ should economic statements. conditions conditions, other lead such Investors forward-looking those from performance of that English. We into is being simultaneous conference held kindly this call Portuguese in remind with you translation Felipe Andre Financial General Manager; and Wilson Today here do Hoffmann, Jaragua Relations Administrative at Scopel CFO Sul are Investor Controller; Manager. and and Menegueti Relations with us Andre Salgueiro, and Luis Rodrigues, Investor Watzko, Officer; Please, Mr. Rodrigues, you may start.

Andre Rodrigues

Q Good with quarter morning, start the conference to to net everyone. of with It's a first grew which We in you WEG's 'XX. pleasure be revenue call. the for once compared operating again of the the highlights XX.X% earning the

result our availability wind needs markets generation to of activity linked and as supporting solar strong benefit our market, in systems We performance In growth The we important of from markets where the strategic conditions observed the we energy, where of forward revenue products for reinforcing in and such and the of we a in industrial products developing good of domestic renewable products is structurally as supplied value main still customers. favorable operate, added a the our to consequence direction market this of strong meet generation. strategy our the a main ability greater continue our with to customers.

material sold. a the also the was and The to percentage at mix expected X.X in movement highlight EBITDA, XX.X%, increased quarter EBITDA year, increase due of to billion. the already from Another was the R$X.X that last products in due points which ended costs XX.X%, by quarter margin reaching down

give more During the performance. about details Andre Salgueiro this presentation, will

The to period first greater revenue to percentage I growth supported operating on 'XX, in in Salgueiro the mainly see quarter offset we than the which same will reaching the for improvement had the ROIC period. need capital in investments in give next our as year continue. relation will now and by the to the points quarter XX.X%. a of floor the the of assets in X.X to performance, better previous we evolution working compared fixed slide, another growth more of increase Finally, presented of

Andre Salgueiro

beverage quarters automation in as other machines as paper and Thank this distribution X, recent impacted segments, Good good volume areas good and the serial drop and you, In and business sanitation our the present quarter and all and demand to segments. and where energy in good was appliance such to development in as other intended we with and area together generators transformers had to motors and Sales panels medium-voltage food industrial our for of Motors, and sales electrical agribusiness. this industrial, transformers of quarter's and wind The in sales driven of businesses, Andre. electric sales substations in acceleration electric business despite continue On operate. Commercial were the sources. demand, such machinery growth the and equipment, GTD the quarter. Appliance had We and automation the markets in morning, Brazil, We linked with posted in and washing low-voltage the T&D everyone. Slide highlight turbines, electric The networks. electronic large I for pulp segment, revenue line gearboxes for Starting activity equipment, for mining, equipment pulp for mainly positive solar long-cycle agricultural performance quarter. such distributed short-cycle conditioning this of and and air in kits of of another of products in transmission segments. by auctions, growth of mining due the be sales with the area the motors, generation especially of motors where performance in such paper return especially the equipment, of projects with as water

typical motors products, were with highlights the industrial anticipated, performance acceleration already had States. a of this segments as At Commercial of for backlog this the across steam revenues we and sales present spread good the economic recovery continued segments. Colombia industrial uncertainties and the and equipment movement the equipment of as area, growth agricultural continued and factor was observed cycle deliveries by the mainly with electronic in Paints and market explained and Mexico. quarter. in on different Applications XXXX. projects quarters businesses, sales and the In in Long such gas despite the the continued Germany pumps As expected the early growth oil we was and road recent mining T&D investment XXXX performance demand gains of China States the and between sanitation. in the Varnishes, Appliance segments recovery observed growth macroeconomic an strong XXXX. United the increase share result industrial the of Africa market, previously the of external was the throughout fluctuations In after implements, the area GTD, electric demand reported an compressors of be in strong in long-cycle to also United emphasis In order implements in Revenue on and in late for important our important and of South scenario. with after turbines the and showed emphasis showed and

presented the we noting margin period where X.X a The exclusion is American showing Slide evolution have of XX.X%, the impacted the of where in quarter XX.X% The that business previous Paints Varnishes, reduction Latin of mainly we of this the drop is explained referring sales at performance growth we showed first see recognition growth lower was in Finally, in positively quarter basis. of by worth countries. growth EBITDA calculation quarter an the in ended the Q PIS/COFINS for Argentina, area. sales operation X, quarter in and in On same of the relation important EBITDA in the from ICMS to the we the of relation to points of additional to in the by XXXX. EBITDA percentage credits a year. the this It first 'XX,

projects, of EBITDA challenges Excluding consequent was with expectations. been this costs This nonrecurring result margin our together and the million have the effect, The global in increase raw supply R$X,XXX EBITDA chain put in pressure in material continue product would to an within work XX.X%. on to change level preserve due the wind but on we higher company's margins, mainly the profitability. mix, with generation fronts to of to revenue several from continued the

show at factories part back concentration increase do we our Jaragua quarter XXXX, India, the floor United abroad, improvements the productivity on of and the in investments Finally, Mexico, to the Sul evolution and located the plant to Brazil I the of in and of on XX% our with investments. R$XXX.X projects units million, give reached States. China a continuing to first investments my finish the Andre. that, and With went Slide In capacity, which greater XX% X, gains of process

Andre Rodrigues

Thank you.

of our talk we about of on to the session, Before on move comment would the to our accomplishments year. like and latest the some Q&A outlook I remainder for

events. title solutions. Natural of for to the like I Brazil, important highlight efficient We the following and in Industry, achievements, innovation company most that the increasingly received from the sustainable Confederation an company, reinforces the Regarding is looking for of achievement the how would innovative always

JEEP electric in to beginning related supply news some the of partnership packs mobility, announced the for and also Brazil electric vehicles. new the the for We stations such charging of for supply as battery of

year, or solar, the of inverters, deliver transmission continuous on in long expectations, the distribution with on biomass, follow margins managing with the connecting power plan, gearboxes within term. healthy to focusing and the company's thermal wind, our the hydro growth, and drives as substations consumers. areas At Finally, continue to of strategic the generation investing transformers will our always motors, time, we're outlook for and whether sustainable to such company's same renewable the energy, through motion rest in we solutions,

For the the could pressure possible XXXX, be to put increases in it for on of is aware necessary results year. costs that

based mix In This risks as products businesses sold to of only session, help can case, solar understand deliver model turmoil above margins relevance. in Q&A market the expand to verticalization, range experiencing a In concludes and to us should political proceed please. business helps we the advantages that one our long-term of also to of addition in on We generation gain like but any the our to that products economic the wind and this And lot and not regard. and more the change opportunities, believe diversification average. we work of Operator, to will we in are competitive presence now. our my uncertainties solutions, global presentation. with vision the times we and mitigate combined the continue

Operator

will Ladies and first gentlemen, Lucas session. instructions] [Operator comes from XP Q&A Investments. the start Laghi question now The from we

Lucas Laghi

questions X would explore. I have on to two I that subjects like

of been a rates. rate exchange of impact lot has the First, There volatility. has April. throughout appreciated The exchange

the understand to from deal you how So X would impact exchange I rate with you like fronts. on of

in distributed see continue and in understand in negative the like generation and longer of in products. We a market I saw cycle give this Or but the would GTD. reduce exports to any market, on products grow external any XXXX. understand you Brazil. if And drop regarding the this saw And on what But costs see decreases helpful. market. in impact, it we profitability, by in the any T&D, than for you be the and lower Brazil, expected you has from this you in wind could driven short-cycle domestic believe level much And it during revenue here revenues it understand, if if led that such solar the solar some We energies, to demand to impact the you that stabilized if on be would it's drop? in prices to as color exchange will we revenue at will First, year? given also, mainly strong pressure external

these questions. my are X So

Andre Salgueiro

speaking. question about international will is GTD. rate. other then Rodrigues answer Salgueiro Andre first I'll This the answer Andre regarding And the exchange

XXX, volatile at As now now for question exchange that It we environment. it's a to mentioned was XXX, back you are X. rate, your in in

back to now, it fluctuation, compare we and is did now if to and a such what back there XXX used went to been it has So not five. high to although be

as So a no differences. such scenario in this, major are there

especially in will Of the revenue on when revenue. cost exchange scenario also make actual we the reais, that you the a has see always But rate us course, in cost issue. there's we're market, some where about a but The too negative impact an change exchange adjusted decimal we that adjust we there in doesn't variation reais at appreciating is local points, analysis if we fact see the currencies, in from of revenue look to at for stabilize. that rate When same should speed talking the much. the conversion external this is try never it's the but adjusted, impact is and

at is difference. lag, short some don't always adjusted And but revenues be a volatility in because there to bit period or some So longer structure updated. takes look quickly adjusted, the cost a we like has to

be market of prices are obviously, will structure correctly, your it about in cost point I question, dollars, second the that short to for the understood priced if especially products Brazil, cycle dynamics. for of according in As

So exchange sense. this rates commercial of back keep will adopt important, the track is to the and to where policy makes then stabilize it's beginning, why that going

Andre Rodrigues

Lucas, speaking Andre this Rodrigues is now.

in of reais, you abroad, reduction the as growth. performance the in small a GTD calculation said, we for dollars As small is made

we year fluctuate last So happened, important something typical on well always period. is we T&D what convey long-cycle revenues important this as this but that to and Germany Africa businesses. is is had that -- during South turbines quarter-on-quarter, and in deliveries that of And steam like very as may Colombia in especially of

States new plant that the of the the highlighting the capacity we America, transformers. United of in worth for in it's the increasing in are North So process

But for after So during fluctuations the the basically, Brazil now. the are some positive, is opening happened that in abroad. time would both I initial portfolio end we to stage last very and saying happen year. reinforce long-cycle period. like the of been quarter-on-quarter may The something at But these at we've

Operator

question Motta next Marcelo from from JPMorgan. comes The

Marcelo Motta

understand in pressure would on taking influence the and that's materials of lockdown from raw idea could expected, to about that could mix, on enough put whether to also events, I would work something like I future. like reduced to medium-term pressure you whether about Europe the margin that this in higher year? we on, wind capital in understand do would to the a to understand be And is on you the if products. conflict ask addition such recent levels? We that longer as China, would comment more think the expect inventory the of to about I puts depends should dynamic. like than we cost with type working when Or also margins. prevent mix the to levels any margins the of be working capital, political should But inventory it disruption mean solar be I the inventory may in

Andre Rodrigues

the our growth that to the other what that as well solar in domestic the Also, mix the questions. well in operations was of can by But costs quarter. materials in we've the first we of continue usually state our operations for the working helped we the impacted something be due what markets is no as you thank Marcelo, it's to the adjustments, improved countries, costs, as when higher domestic margin these been GTD cost external happen quarter to which products, in the the a the news to lot margins external about increases market, was both margins of and significant according quarter offset margin, and that wind. recurring or in in price as improve especially more this to Well, expectations. stayed quarter raw speak

to all Russia additional could for issue. to about and given much conflicts a pose the in we're the lockdown bit war exposed early exposure question war that the to China. risk not the between as only well than external are as much Ukraine more the assess this of happening, China too how As WEG, the It's

scarcity the a and supply is materials prices. always lead China, that will in increase COVID and influenced chain of X times there could there be While to in policy may in be complications raw

could we far, they those but So that have not it felt not come consequences, later. that doesn't mean

we have eye So that. to on a keep close

given As capital the price levels. of on increase working the inflation quarters increase This capital, raw for inventory, in to was the is supply is for we that made our a concentrated material increases as This the well the in as the raw which strategic global operations, increase was uncertainties strategic inventory due the in right working operations on along our a of materials of decision chain. in decision. the guarantee continuity happened inventories to all

reduced. when the worst operations. we The is go things and materials be Some the raw have quarters raw again, guarantee made the materials we inventory year China raw right to have atypical rather, our to we were levels for the necessary indicators the enough And supplies is to flow. back consequence are the they atypical and in with inventory proved but levels materials, necessary. be decisions in cash And to tend for the because normal, or some lockdown this trend first are

in good had same XXXX. be That's is the end we pre-pandemic. worth reach of are on or is at than terms concentrated payment remembering of improvements likely. to XXXX not and the this have trend very But levels? that will It's Our inventories, the situation better indicators indicators receiving average terms the

Operator

Regis The Cardoso Suisse. next Credit from comes from question

Regis Cardoso

the mean captured some of Operators and to we same point X for This general, receive -- segment gas, operators in From this WEG's they Is Have as focusing know this would focus is only a can offshore the to I in the in it's meet to solar we this view as I'm gas maybe the can understand United States cost would over and investments I of amount a saw it for guide, solar Do solar. share. of onshore. How the the or plants relevant market really address to volume, and on leap trend Or plan I interpret with gas. WEG to like like the an in you liquefied this significance that motors be large also of on invest go on Europe And inflation? guide increase? COGS means are Or means main especially the on if just panels. as EBITDA you? And increase can just gas, increase comment in margins sorry, international in and this needs now unit Is would the seen of if like been also pumps you an is its increase? them. aspects sanitation renewables projects and from of significant ag. this within imports from projects. solar gas. to you in increase the GD consequences well receiving In the the business quickly the WEG? have use of oil for increase Could of imported generated could activities, more is solar, I oil this is also, segments has Pretoras increase the and there fields you onshore favorable -- in on markets? well. Europe onshore and whether in

Andre Rodrigues

infrastructure part, speak is with that we during that part clear the happening What's gradually projects will of change solar XXXX. regulation, to until the And implemented an gas. next after are and continue the XXX% the then be there renewables benefit oil of and the became year, area benefit in cover expectation will existing I'll is the it field solar starting use in that removed. year this that

and positive business obviously projects projects. to coming that the very performance. XXXX. costs this inverters good solar compared increased this the a of panels, as that the more ended that and Brazil. especially And volume on of given prices. of there you the I number cost megawatts of volume, when increasing, in commodities expect know of terms in to for revenue hot increase factor is and XXXX year, in solar of last reflected up increased well. And be issue. would The the really reflects installed. and track impact generation panels during price we This is -- tell performance market is panels the from Obviously, the you of is a But in demand and I performance our related GTD revenue most on such And year number in import quarter is quarter Brazil. GTD first its than the doubled keep to imported XXXX, main So

As the the renewables area, again year, in start projects generating of generation for just ramp-up. wind wind in quarter generation, and now to we last we complete are have last revenue,

The and better. this first is year the third, quarter fourth

So And a have we of generation wind be growing will it's in trend. a backlog now XXXX. that

of is So backlog positive. healthy the wind projects and

next in and year positive generation. this that terms wind be will expect year of for do we demand So years

we closer the year as second some and a the there was basis, half, are half course, very revenue is move in Of comparison second on growth the prospects last -- of terms the year, to but decreases the in outlook of good. --

XXXX, a projects, of total liquefaction XX% also industry so of the whole demand I gas, gas an to As as about or offshore, to the business here, gasification. the and made for terminals, main electric is presentation segments, electronic equipment. about refineries. in And the when oil we If or our speaking to for industrial for accounted a for products that remember in There's exposure oil and onshore said business and exposure we LNG correctly, for it market we're segment. XX%

United that Europe. increasing may So market for by a market. in addressed us States There that is could are in be be opportunities these and investments the WEG. This

already it is of the trend. we showed with market this could said unlock So some in in that last end a positive Europe, conflict it projects. And new now a year, the

growing trend the heated market the is And next quarters. for oil continue a in and so gas to manner, for the

Regis Cardoso

Understood.

GTD, just was growing second but the for ramp-up a wind us follow-up ROIC, give believe, decreasing last dynamic given quarter we should XX-something level and the trend conclude, there expect because with a drop that of margins to could maybe year, higher at of next should have I comparison, metrics? How substantial ROIC? the you financial a maintenance I If in can revenues understand is a at the for be more that drop it intermediary translated a quarter months in X and

Andre Salgueiro

that guidance It's give quarter high or second a ROIC. now And that yes, basis since very do that for XXXX, target second when But accommodation. hard one to started was of quarter-on-quarter. quarter trend be of happens positive had ROIC a considering the last last of for the it year, year we increase. The third the a will expect the calculating settlement quarter quarter every some we

tell But right which or hard reach continue. it So will will the it you level at now. stabilize to is

Operator

question Citibank. Next from comes from Andre Mazini

Andre Mazini

external My not about When and are revenues results, but increasing the their at Siemens in question is look has we competition backlog market. ABB increased, so much.

So this you all would integrated you since and their the peers to have your the good we any for small your in you, than good capacity. a plants are quite given and over world. have market vertically share be China. is lockdown broken, added could in abroad, could This are a them, you be that a chains more peers the sign And at reduction full global capacity wins that and wondered whether fact there have

fewer during able peers XXXX that you to I when to serve problems supplies mentioned. and So compared capacity would be these with

Andre Rodrigues

is seeing competitors, that WEG that pandemic. the those from is a and It the that demand must the areas This generated world. beginning Andre benefit is here opportunities is started The the of is have positive the seize positive to world. opportunities in for WEG keeping main company by track differentiate well. well about doing WEG's the very as itself is to capacity And and of issue as Rodrigues several the This competitors. the Andre, in for everybody speaking.

that. given have market is has inventory some And successful WEG, WEG the Europe, the have. how rate production branches, an During good the areas quarter, in situation talking capture from lockdown advantage of every in you levels markets its growth And growing, Mexico in I'm external thanks verticalized America, which we to the to much model, seen that North and and we we know are benefit being really about of we to This are result competitors, the able constant market with don't share quarter. a technology the is in during compete not company of last the if our If this keep area. development we up to to date as of making several to technology in we're terms regions a enter as and result markets. well investments capacity new to our increase well capacity segments as in as

in highly several the in was and past, oil example, external segments sanitation the and we For WEG And in very water operate mining exposed the also gas abroad. to to market. efforts in made and company

So opportunity company. we the a opened new for

Sao of in speech for the of in segments. the industrial paper create this of which we're working new the geographies. one pulp in also well the to is new as This and electronic quarter is company equipment as segment highlights another So Gero, opportunities

in investment low will in India, Kazakhstan, finished soon. Turkey, unit that be earlier, Poland, voltage reported As

opportunities. our creating products So my for all the opinion of has world the for in is its opportunities the most making is demand WEG but companies,

advantage I your As production in supply there for has competitive that a believe Yes, easier. chain, verticalization makes been and our if bit I of understood of life process what a a happened our there change terms question lot has is is a the global second of correctly, lately. don't

other advantage. we equipment. electronic solved that level cannot that We But Asia We global things in verticalization. have on of The have world reach regarding products, chain. for supply depends

Andre Mazini

will new -- difference? investments in in a become from Europe was answered Could that is was question believe the terms repower mean, follow-up source. Russia. energy EU Europe, growth will after in important Europe. Germany on And highly dependent a independent be Just on energy? plan higher dependent the there Russia you before. you you I from the for and make more this to Russia this on in already that do plan, order of plan with soon this plan too are of result idea one to branding war, expect we to X

Andre Salgueiro

This to is opportunities market. not Well, separate are investment speaking energies, the and European have we Salgueiro we we the renewable If speaking, a Mazini. of exposed solar, to bit. purely in wind are

So this have We business turbines. do there venture is a joint steam in on a that's are focused TGM no area. opportunities Europe, in of which clear

if we So there the investment yes. bring opportunity an for could thermal from it And with generation, projects Brazil. could also production is for address that And in area, us. some

is we're that, a opportunities market demand addition to such East, Africa, such equipment and as In medium and motors and Europe, North for exposed other either investments for or is of low LNG industrial that products, as terminals voltage from Middle to. gas in highly there projects automation oil which

renewable So depending yes, solar not on the but exposed the for could in not opportunity, oil market, concentrated, investment that and are an where it and to Europe. gas become it's I given believe, XXX% we or rather and wind

Operator

from Capistrano Luis from ItauBBA. comes question next The

Luis Capistrano

the will second this question prebuy predictable? to years, segments of energy solar of we the good is question I is boosting domestic legislation how structural the first for a X you demand question impact the with talk backlog cycle is mean, and context in is next GTD, strong orders a the the to in I that favored the solar from And go orders, performance more good the how derives for is been ensures bit thinking about will continue or about new know much and to portfolio when Naturally, company. quarter the And all for in detail two how that about is into bit this for industry? or would will very open We in continue quarters. more The second this flow? of movement long like year, be XXXX. part of you, a much more favor this And how and some new it changes the longevity But the long? positive would long XXXX, has development how this on be

Andre Salgueiro

performance areas. Okay. from This release wind area domestic look the for business, that overview. the year, was a presentation, and well significant hydro performance, as true such the Obviously, comparison but Salgueiro happened even or speaking. in solar, mentioned thermal well no you the or in last the you But because in more, all as GTD Thank strong also GTD, Brazil. in on Brazil we is for at giving basis if growth. then my as and businesses generation of all businesses broad is because also with grew solar also other water performed we strong the a had in focused a question. GTD, especially generation T&D there some came that

long what Looking forward, trying the about and short term term. to question is answer your

We have back the the quarter coming year. since strong last second wind of energy

We the will a full, XXXX. goes be growth, the are and won't there much plant beginning to backlog of be when more our but time making

this the So solar in there longevity, move GTD months terms solar with to we is at of is visibility three in of almost the distributed X is a the recurring concentrated When backlog highly events, solar, years highest GD, backlog. one of to business most. in generation. the In

expected regulations. is there a in solar So year expected in to XXXX, and is very positive have changes

the and will difficult. and XXXX? since will solar be business the the for We the level make given in benefit believe to term. Obviously, growth level continues business long be that revenue increasingly keeping how be of medium So will sense

more growth of to expect we next growth recurring as level. more year of be to and stable become So a

and year, next backlog that of year. The other generation, of goes a the can end see up this T&D beginning to such as businesses, we

in last the have we good question, have, we positive Rodrigues For and the a explained backlog. visibility

The generation good the auctions, lines happen. projects for prospects to to trend auctions we for is news and transmission see projects of continue these for next year. Given

pace the But the the basis higher, that decreases. the So positive. becomes growth summarizing, grows, is so the year first revenue be message as comparison will

have We long trends positive projects. cycle good for

We next year. and don't how know solar for expect we develop year positive short will a cycle,

maintain So to far, we level close believe it in let's it was will see what revenue a it But develop. how will XXXX.

Luis Capistrano

demand most Thank Is If that of speaking was for of XXX% we're a than It you half GTD, about cycle, the one. revenue, right? think we very for from of But your answer. derives thorough GTD. long-cycle right? more part long of the

Andre Salgueiro

be distributed solar short consider Well, we generation, to cycle. a

and distribution transformers as DG, is poles, short long which cycle, and is are So small distributed for rest within generation cycle. GTD, cycle The classified transformers GTD within short

Luis Capistrano

adds Perfect. than up rest remainder the And to more the and XX%?

Andre Salgueiro

by down have solar. percentage, you breakdown the tell break the If I don't We you Yes. of business. would

unfortunately. So I cannot that information, disclose

Operator

question Pedro next from Fontana The Bradesco from comes BBI.

Pedro Fontana

Congratulations Good results. the morning, everyone. on

benefit -- on is expect results? you are trend? could how And from And to this growth are doing gain WEG that WEG If do you you to comment the please avenues how relevance in for studying? the what

Andre Rodrigues

Hello, business? electrification understood mobility If about electric talk you for Pedro. correctly, the I

Pedro Fontana

it. that's Yes,

Andre Rodrigues

Okay.

the that's going with well well ology. and with I [indiscernible] other We the are powertrain. think positioned. other stations. we WEG a at trend techn already We WEG potential mob, We very that developed very a partnership power charging had developing didn't projects and There's it had is customers. stop

they recent developing opportunities, which giving battery we these are some as segment, you this one an With partnerships with with update would Brazil happened. a manufacturers. We're then complementary The JEEP in be alternative OEM most segment. was the and for

generation, solar, If generation, are renewable world about more is as talk the And through energy very but in in the because this electric as because there when Brazil more important company. an business more trend is is energy produce energy. there in make complex biomass. be infrastructure mentioned, we and this for positioned specific that's that well of We're well need area So solutions for come opportunities sources I we the is to in renewable Brazil, will lines of transmission we through happen wind required. this mobility, course, growing very to and the thermal hydro,

business T&D and transformers the So automation more equipment. panels, substations,

we automation then the have WEG. at So business

the mobility growing, well also the macro at company a good when level, very we the in at the look And future. positioned. solutions. developing It's new when company the opportunity solutions, for is is it's industry, we adjoining look So

Operator

This ends remarks. the session. Q&A the to to I Mr. would over turn Andre final his Rodrigues for like floor

Andre Rodrigues

thank in again, attending you we Once call second much Hello. the call, the see and the you next for very of soon. this for earnings all very quarter

Operator

attending, for of good ended. has all a thank The have you and day. conference WEG call now We

WEG (WEGZY) 30 Apr 222022 Q1 Earnings call transcript