Valid announces 2Q17 Results
Valid reports Net Revenue of R$ 391.9 million in 2Q17, up 9.3% from 1Q17 and down 10.5% from 2Q16
Rio de Janeiro, Brazil, August 7, 2017 – Valid (B3: VLID3), the Brazilian Global Provider in Payment Means, Telecommunication and Identification Solutions, announces today its 2Q17 Results.
- Net Revenue
– Decrease of 10.5% (R$391.9 million in 2Q17 compared to R$437.8 million in 2Q16) and growth of 9.3% when compared to 1Q17;– In the first half of the year, Net Revenue totaled R$750.4 million, down 14.8% compared to R$880.9 in the same period of the previous year;
– In 2Q17, foreign operations accounted for 46.4% of total Net Revenue compared to 50.2% in 2Q16 (US$56.5 million versus US$62.5 million). In the year, foreign operations represented 42.6% of total Net Revenue compared to 51.4% in the same period of 2016 (US$100.2 million versus US$121.6 million).
– EBITDA was R$60.3 million in 2Q17 compared to R$71.7 million in 2Q16, a 15.9% reduction between the periods and an increase of 19.6% when compared to 1Q17;– R$110.6 million in 1H17 compared to R$140.8 in the same period of the previous year, down 21.4%;
– In 2Q17, foreign operations accounted for 37.6% of total EBITDA compared to 45.3% in 2Q16 (US$7.0 million versus US$9.2 million). In the year, foreign operations represented 22.4% of total EBITDA compared to 44.5% in the same period of 2016 (US$7.7 million versus US$16.9 million).
- Net Income
– In 2Q17, Net Income was R$3.2 million compared to a loss of R$1.4 million in 2Q16. In 1H17, Net Income reached R$10.8 million compared to R$10.4 million in the same period of 2016.
- Bonus Shares
The Extraordinary Shareholders’ Meeting held on May 15, approved the 10% share bonus, which corresponded to the issue of 6,475,000 new common shares, at the ratio of one new common share for each 10 common shares held by the shareholders as of the date of the ESM.
- Subsequent events
– 07/03: The Company‘s First Stock Program, based on the Company‘s Long-Term Incentive Plan, was approved.
Valid will host Conference Calls to discuss its Results on August 9, 2017, Wednesday, as follows:
Conference Call in English:
10:30 a.m. (US ET)
11:30 a.m. (BRT) / 3:30 p.m. London
Connecting Number: +1 (516) 300-1066
Webcast: click here Conference Call in Portuguese:
9:00 a.m. (US ET)
10:00 a.m. (BRT) / 2:00 p.m. London
Connecting Number: +55 (11) 3127-4971 / (11) 3728-5971
Webcast: click here For further information, please contact Valid‘s Investor Relations Team:
Carlos Affonso d´Albuquerque
Chief Financial and Investor Relations Officer
Phone: +55 (21) 2195-7230
IR, M&A and Strategic Planning Manager
Phone: +55 (21) 2195-7251
Eduarda de Castro Miguel
Investor Relations Analyst
Phone: +55 (21) 2195 7257
Investor Relations Analyst
Phone: +55 (21) 2195 7297