Management software provider Totvs recorded a rise in fourth-quarter profit, with expansion in operating numbers and reversal of negative financial results a year earlier after raising via stock offering.
Adjusted net income attributed to controllers was R$ 126 million in the period, an increase of 45.1% compared to the same period of the previous year.
The company reported an operating result measured by adjusted earnings before taxes, interest, depreciation and amortization (EBITDA) of R$217.5 million in the period, 32.3% higher than reported a year earlier. Adjusted Ebitda margin rose from 24.3% to 24.4%
Net revenue totaled R$ 890.5 million in the quarter, with year-on-year growth of 31.4% distributed across all business segments, with emphasis on the 19.7% rise in the management unit.
Administrative and other adjusted expenses increased 36.6% in the fourth quarter, to R$92.7 million, while selling and marketing expenses increased 29.9%, to R$170.1 million, in the same comparison.
Source: CNN Brasil
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