Press Release

Positivo Tecnologia reports growth of 30% for the third quarter and 61% for the year

Bnamericas Published: Friday, November 11, 2022

This is a machine translation of Positivo Tecnologia's press release

Positivo Tecnologia's successful business diversification strategy once again allows the Company to report growth in gross revenue with expansion of the EBITDA margin. The highlight of this result was the Commercial segment, which includes products and services for public and private institutions.

Third quarter gross revenue reached R$ 1.3 billion, 30% higher compared to the same period in 2021. The nine-month accrued revenue grew by 61% compared to the same period last year and reached R$ 4, 4 billion. Another highlight was EBITDA. In 3Q2022, it reached R$ 123 million, up 37%. In 9M 2022, it was R$ 434 million, up 72%. EBITDA for the last twelve months registered R$ 526 million and was considered another record for the Company. In addition, Positivo Tecnologia ended 3Q22 with net income of R$ 51 million. In the first nine months of the year, adjusted net income grew 29% above the same period in the previous year and reached R$ 169 million.

For another consecutive quarter, the Commercial segment was the protagonist due to full expansion and strong growth. Corporate sales continue to be driven by the offer of products and services with the conquest of more customers and market share. In Hardware as a Service (Haas), the IT equipment rental solution, the base grew by 40% compared to last year. Additionally, the Company signed important contracts in this modality, which include the leasing of machines and management of technology parks. Significant 79% of Positivo Tecnologia's quarterly revenue was generated by this business unit.

Within this segment, corporate businesses are increasingly relevant, with gross revenue in the quarter of R$ 343 million. That's 66% more than in 3Q21. In the nine months of the year, revenue was R$ 1.2 billion, 133% higher than in the same period last year.

The Public Institutions business also showed a rise. Gross revenue for the quarter was R$ 661 million, 97% higher than in 2021. It was mainly driven by the deliveries of devices to the Education Departments of Minas Gerais, Goiás and Santa Catarina. The company also supplied tablets to the City of Salvador, which were made available to the municipal school system. The highlight of the area was the project carried out with the State Agency for Information Technology of Pernambuco - ATI/PE. In 9M22, the gross revenue of this business unit reached R$ 1.5 billion, double the previous year. As it serves more than 900 customers within the various public bodies in Brazil, offers for this segment continued to be heated and totaled R$ 7.7 billion in October 2022. The forecast of gross revenue for the year is more than R$ 2 billion, against R$ 1.3 billion in 2021.

In Consumer , a segment that encompasses direct and indirect sales to individuals, businesses are still under pressure due to high inflation and high interest rates. However, we remain confident with the new consumption habits and patterns and we estimate that demand, as well as inventories, will be regularized in a few months. In this context, we have evolved the distribution of our Infinix smartphones. We recorded a trajectory of sales growth and conquered even more space in the market and in consumer preference by being in more than 40 retailers distributed throughout the country.

The Company maintains its gross revenue outlook for the full year 2022. The projection is for annual gross revenue between R$ 5.5 billion and 6.5 billion. It is R$ 500 million above the projection at the beginning of the year. In 2021, Positivo Tecnologia's gross revenue was R$4 billion. “The diversification of channels, products and services, as well as the greater exposure to corporate customers, makes us confident in our ability to continue delivering solid results, with revenue growth and profitability”, says Helio Bruck Rotenberg.

About Positivo Tecnologia

Positivo Tecnologia is a Brazilian technology company that develops, manufactures and markets computers, cell phones, tablets, devices for smart homes and offices, servers and IT infrastructure solutions, as well as accessories, mobile payment terminals and educational technologies. It also offers integrated services in the rental of IT and mobility equipment, programmatic media and technical assistance. The set of products and services is aimed at end consumers, companies, schools and public institutions. The Company was founded in 1989, has administrative headquarters in Curitiba (PR), five factories in Brazil, in addition to a presence in Argentina, Kenya, Rwanda, China and Taiwan. The portfolio of brands and businesses comprises Positivo, Positivo Casa Inteligente, Positivo Servers & Solutions, Positivo Tech Services, Positivo As a Service, VAIO, Compaq, Anker, Infinix, 2A.M and Educacional -- Ecosistema de Tecnologia e Inovação. Additional information can be obtained from the website .

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