THE sky (CIEL3) had recurring net income of BRL 490.1 million in the fourth quarter of 2022. The amount represents a jump of 63.3% compared to the same period of 2021, shows a report released this Thursday (26).
Profit came well above R$ 360 millions projected by market consensus, according to a Bloomberg survey.
According to the company payment machinesthe line was driven by the “solid improvement in operating fundamentals, with revenue growth and expenses under control”, both in Cielo Brasil as in the operations of Cateno.
With the figures for the last three months of the year revealed, Cielo ended 2022 accumulating gains of approximately R$ 1.5 billion.
In the fourth quarter, Cielo reported two non-recurring events, the company said:
- discontinuation of LIO V2: effects of the decision generated a negative impact on Cielo Brasil of R$30.2 million, already net of tax effects; and
- earn-out from the sale of MerchantE: the company discontinued the recognition of the US$ 25 million portion, with impacts (non-cash) on the result of Other Subsidiaries.
Cielo reported Cielo + Cateno net operating revenue of BRL 2.75 billion in the fourth quarter of last year, an increase of 18% in the annual comparison. The numbers do not consider Other Subsidiaries. In the accumulated of 2022, revenue reached BRL 10.1 billion, expansion of 23.4% over 2021.
Ebitda (earnings before interest, taxes, depreciation and amortization) of Cielo + Cateno totaled R$1.04 billion between October and December of last year, with a margin of 38% (+4.7 percentage points year-on-year). In the 12 months of 2022, the result amounted to BRL 3.62 billion.
In the consolidated (considering Other Subsidiaries), Ebitda for the fourth quarter came to R$ 914.7 million, with a margin of 33.2%. From 2022, the line totaled R$ 3.81 billion.
The financial volume of transactions captured by Cielo Brasil in the fourth quarter increased 11% compared to a year earlier, reaching a record R$ 231.4 billion.
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