The results for the second quarter of 2022 confirmed our expectations regarding the demand for our products and services, gradually overcoming the adversities in Brazil and the world macroeconomic scenario.
In Brazil, the strong revenue growth was supported by the good performance of the low voltage electric motors and automation products, especially sales of renewable energy generation projects and transmission & distribution. The external market continued to show an important demand for industrial goods, with an important growth in local currencies compared to the same period of the previous year.
It is important to highlight that in 2Q21 we had to account for non-recurring tax credits referring to the exclusion of ICMS from the PIS and COFINS calculation basis, according to the material to a relevant fact disclosed on June 22, 2021. Adjusted for this effect, EBTIDA and net income showed an increase of 14.5% and 6.6%, respectively, in relation to 2Q21.
Despite the global supply chain challenges, we are still facing and the consequent increase in raw material cost and the greater need for working capital, we believe that our long-term-oriented business model helps us mitigate these risks. The diversification of products and solutions, along with our global presence and exposure to businesses with good long-term prospects, are some of the most important factors that help us in this journey.
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