Valid announces its 3Q18 Results
Valid recorded a growth of 16.2% in Net Revenue and an increase of 17.2% in Adjusted EBITDA compared to 3Q17
Rio de Janeiro, Brazil, November 7th, 2018 – Valid Soluções S.A. (B3: VLID3 – ON) announces today its results for the third quarter of 2018 (3Q18). The financial and operating information below is presented on a consolidated basis in accordance with IFRS (International Financial Reporting Standards).
- Net Revenue
– Increase of 16.2% compared to the 3Q17 (R$478.9 million vs. R$412.1 million). In the accumulated for the year, net revenue increased by 10.7% (R$1.3 billion vs. R$1.2 billion).
– Revenues from foreign operations increased from US$60.0 million to US$61.1 million in 3Q18 versus 3Q17.
- Adjusted EBITDA
– R$81.1 million in the 3Q18 vs. R$69.2 million in the 3Q17, an increase of 17.2% between the periods. In the accumulated for the year, EBITDA totaled R$231.1 million vs. R$179.8 million, an increase of 28.5%.
– The results for the 3Q18 was negatively impacted by the recognition of the allowance for doubtful debts (Mobile segment), in the amount of US$2.6 million, equivalent to R$9.9 million.
– In the 3Q18, the operation in Brazil totaled R$58.6 million, vs. R$50.5 million in the 3Q17, an increase of 16.0%, representing 72.2% and 72.9% of the company’s total EBITDA¹, respectively.
- Net Income – In the 3Q18, Net Income totaled R$23.8 million compared to R$15.8 million in the 3Q17, an increase of 50.6%. In the accumulated for the year, Net Income totaled R$57.0 million compared to R$26.6 million in the same period of 2017.
- Subsequent Events
– On October 22nd, 2018, we announced the acquisition of 51.8% stake of Agrotopus, in the amount of R$6.5 million, startup mainly engaged in agribusiness software and services.
– On October 11th, 2018, the interest on capital paid to shareholders amounted R$16.6 million.
Click here for the 3Q18 Earnings Release.
Valid will host Conference Calls to discuss its Results on November 8th, 2018, Thursday, as follows:
Conference Call in English:
8:30 a.m. (US ET)
11:30 a.m. (BRT) / 1:30 p.m. London
Connecting Number: +1 (412) 902 6727
Webcast: click here
Conference Call in Portuguese:
7:00 a.m. (US ET)
10:00 a.m. (BRT) / 12:00 p.m. London
Connecting Numbers: +55 (11) 3193-1001
Webcast: click here
For further information, please contact Valid’s Investor Relations Team:
Phone: +55 (21) 2195-7257 / +55 (21) 2195-7297