SONDA : revenues reach US$605 million for the first half of 2016

July25, 2016.-SONDA, the leading Latin American Information Technology company, and reported its results for the first half of 2016, showing consolidated revenues of Ch$ 399,934 million (US$ 604.7 million), 6.8% lower than in the same period for the previous year. EBITDA was Ch$ 53,453 million (US$ 80.8 million), 9.3% lower than in the same period for the previous year.

The depreciation of foreign currencies, in particular the Brazilian real, the Mexican peso, the Colombian peso and the Argentinian peso, negatively affected the conversion of results from local currencies to the Chilean peso.

However, revenue and EBITDA would have grown by 2.5% and 7.0%, respectively, without the impact of currency translation.

Net income attributable to the controller was Ch$ 22,902 million (US$ 34.6 million), which was 10.4% higher than for the first half of 2015.

Revenue from operations outside Chile was Ch$ 224,726 million (US$ 339.8 million), which represented 56.2% of total consolidated revenue, while EBITDA was Ch$ 25,187 million (US$ 38.1 million).

The volume of business closed in the period reached US$ 496.1 million.

Mr. Raúl Véjar is CEO at SONDA and he noted that 'These results testify to a complex situation within the region during this first half of the year, in particular in Brazil and Colombia, where their economies are slowing down considerably. Despite this, SONDA's business model combined with various cost-reduction initiatives recently introduced have enabled us to maintain a healthy financial position and acceptable profitability indices'. He added that 'Medium and long term growth expectations in the IT industry across the region continue to be promising, according to specialist firms, which motivates us to remain committed to our triennial investment plan for 2016-2018'.