Chile , Mexico and Brazil

Sonda results hit by depreciation, Brazilian economy

Bnamericas Published: Thursday, January 28, 2016

Chile-based Latin American systems integrator Sonda saw a 9.9% drop in net profits in 2015 compared to 2014, as a result of the depreciation of local currencies against the US dollar, and particularly the Brazilian real.

The firm's net profit reached 42.9bn Chilean pesos (US$60.3mn) versus 47.5bn pesos in 2014. Revenues rose 1.4% in 2015 to 891bn pesos from the previous year.

Income from operations outside Chile fell 5.4% to 537bn pesos and represented 60.4% of total group revenue.

Sonda's key Brazilian market saw income fall 10.3% to 344bn pesos, offset by a 12.1% increase in revenue in Mexican operations to 82.4bn pesos. Sonda's home operations in Chile saw a 13.9% rise in income to 353bn pesos, while revenues in other parts of Latin America were flat at 112bn pesos.

Sonda has revealed an investment plan for US$790mn of which US$540mn will be earmarked for M&As in the region, particularly in Mexico, Colombia and Brazil.

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