VALID SOLUÇÕES S.A. Results | 4Q |
Presentation | 23 |
March 07, 2024
4Q23 Results
This presentation includes
forward-looking statements that reflect current beliefs and expectations regarding future financial results and other aspects of the business.
These beliefs and outlooks are not a guarantee of future performance and involve risks and uncertainties.
Actual results may materially differ from those projected due to several factors.
Analysts and investors are advised not to place undue reliance on these beliefs and expectations, as they only refer to the date of publication of this presentation.
Valid is not obliged to
publicly disclose the results of any revisions to these beliefs and expectations.
Financial results are reported considering the impacts of the adoption
4Q23 Results
4Q23 Results
R$633Mn
4Q23 (32% YoY)
R$2,256Mn
2023 (20% YoY)
R$147 Mn | R$36Mn | 109% OCF/EBITDA 4Q23 | ||||||||
4Q23 (9% YoY) | 4Q23(44% YoY) | |||||||||
R$567Mn | R$213Mn | 95% | OCF/EBITDA 2023 | |||||||
2023 (19% YoY) | 2023 (774% YoY) | |||||||||
Margins of 23.2% in | Margins of 6% in 4Q23 | |||||||||
4Q23 and 25.1% YTD | and 9% YTD | |||||||||
Revenue | EBITDA | Net Income | Cash Generation | |||||||
▪ Increase of more than | ▪ | Valid's best annual | ▪ Record annual Net Income | ▪ Strong EBITDA-to-cash | ||||||
30% QoQ and 20% YoY | EBITDA | (+774% YoY) | conversion rate, reaching 109% | |||||||
▪ Two-digit sales | 3rd consecutive record | ▪ EPS: R$2.66 per year | in the quarter and 95% in the | |||||||
▪ | year | |||||||||
growth across all | year in terms of EBITDA | |||||||||
business verticals YoY | ▪ Last IoE payment of R$0.30 per | ▪ Valid's leverage reaching the | ||||||||
share in Dec/23. Proceeds for | lowest level since its IPO in 2006 | |||||||||
2023 totaled R$77Mn, payout of | ||||||||||
36% | ||||||||||
4Q23 Results
A year marked by a 20% increase in both Revenue and EBITDA, compared to 2022, with Valid maintaining the margin close to 25%.
Net Revenue (R$ Mn)
+20%
EBITDA (R$ Mn)
EBITDA Margin (%)
+19%
+32% | |
2.256 | |
1.879 | |
479 | 633 |
+9%
478
135 147
567
4Q22 | 4Q23 | 2022 | 2023 |
4Q22 | 4Q23 | 2022 | 2023 |
EBITDA | 28.2% | 23.2% | 25.4% | 25.1% |
Margin | ||||
4Q23 Results
The quarterly profit was affected by the significant devaluation of the Argentine currency in December, which impacted the financial result.
(R$ Mn)
147-43
EPS:
-29R$0.44
-42
(+44% YoY)
336
EBITDA 4Q23 | Financial Result | Depreciation and | Others | Income tax and | Net Income 4Q23 |
Amortization | social contribution |
4Q23 Results
(R$ Mn)
567 - 119
- 104 | EPS: | |||||
R$2.66 | ||||||
-69 | ||||||
-62 | 213 | |||||
EBITDA 2023 | Financial Result | Depreciation and | Others | Income tax and | Net Income 2023 |
amortization | social contribution |
4Q23 Results
Annual Net Income grew by 774% over 2022.
(R$ Mn)
68 | ||||||||
82 | 213 | |||||||
-3 | -4 | |||||||
89
24
-44
Income 2022 | EBITDA | Income from | Financial Result | Others | Depreciation and | Income Tax and Social | Income 2023 |
Discontinued Operations | Amortization | Contribution |
4Q23 Results
Annual Net Income grew by 774% over 2022.
+ R$53Mn Reduction in Financial Expenses | |||||||||||
(R$ Mn) | + R$38Mn FX Variation Ex-Argentina | ||||||||||
- R$3.5Mn Other | |||||||||||
= R$88Mn | |||||||||||
+ R$31.5Mn Plus Financ. Invest. Argentina | -R$20Mn Effect ARG | ||||||||||
+ R$20.2Mn PV Adjust in Argentina | |||||||||||
- R$71.8Mn Exchange Argentina | |||||||||||
= R$67.9Mn | |||||||||||
+ R$33Mn in ID | 100% USA | ||||||||||
68 | |||||||||||
+ R$73Mn in Pay (100% ARG) | |||||||||||
- R$17Mn in Mobile | |||||||||||
= R$88.9Mn | 82 | ||||||||||
89
EBITDA | Income from | Financial Result |
Discontinued Operations |
4Q23 Results
EBITDA (R$ Mn) (excluding USA) | ROIC | |||||||||
567 | 4.8 p.p. | |||||||||
478 | ||||||||||
318 | 17,7% | 22,5% | ||||||||
203 | 11,0% | |||||||||
4,8% | ||||||||||
2020 | 2021 | 2022 | 2023 | 2020 | 2021 | 2022 | 2023 | |||
Net Income (R$ Mn) (Excluding USA) | ROE | |||||||||
8.2 p.p. | ||||||||||
213 | ||||||||||
15,8% | ||||||||||
58 | 6,7% | 7,6% | ||||||||
15 | ||||||||||
-88 | -18,1% |
2020 | 2021 | 2022 | 2023 | 2020 | 2021 | 2022 | 2023 |
4Q23 Results
Operational Cash Generation of R$540Mn in 2023, accounting for 95% of the EBITDA recorded in the year.
(R$ Mn)
540 | ||
873 | ||
-71 | ||
-109 | 619 | |
-143 | ||
513 | ||
-97 | -14 | |
95% | ||
EBITDA |
Cash (Dec/22) | Net Cash Generated | CAPEX | Financial Result | Cash After Operations | Funding/Payment of | Interest on Equity | Effects from exchange | Cash (Dec/23) |
Loans | Rate |
Note: Operating Cash Generation: EBITDA - Taxes on Result - Working Capital
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Disclaimer
Valid Soluções SA published this content on 07 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2024 12:47:20 UTC.
