Cielo, leader in the small machines sector in Brazil, ended the second quarter of this year with a net profit of R$ 635.3 million, according to a balance sheet released this Tuesday (2). This result is 252.2% higher than in the same period last year, and 244.1% higher than in the first quarter of this year.
The result is the best since the fourth quarter of 2018, and was driven by non-recurring factors. The main impact was the sale of MerchantE, carried out in April, which had a positive net impact of R$ 282.3 million.
Other factors, such as the impairment (lower book value of assets) of software and the restructuring of the store channel, had a negative impact.
Without this effect, Cielo had a net income of R$375.9 million, which on a recurring basis was 79.6% higher than in the same quarter last year, and 57.8% higher than the result for the first quarter. According to the company, the high volumes captured and the profitability of the customer base led to growth.
Cielo’s Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 1.183 billion in the quarter ended in June, 103.7% higher than in the same period last year. On a recurring basis, Ebitda was R$914.7 million, up 57.5% in one year.
The company’s net revenue was BRL 2.540 billion, a decrease of 9.7% compared to the second quarter of 2021. If the effects of the sale of MerchantE are isolated, there was an increase of 33.7% compared to the same period of the year past.
Among the company’s units, most of the result came from Cateno, responsible for managing payment arrangements for Banco do Brasil’s Ourocard cards. Cateno recorded a profit of R$ 244.7 million, of which R$ 171.3 million is attributable to Cielo – BB is a partner in the company.
Source: CNN Brasil

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