Bematech reduces expense and multiplies profit

Little more than a year after starting a restructuring process, the Brazilian Bematech, specializing in business automation systems, has multiplied by nearly ten times the net income for the fourth quarter. In results released yesterday, for the months of October to December 2012, the company showed a net profit of r $ 10, 7 million, with a high of 884% in comparison with the result of R $ 1.1 million registered in the same period in 2011.
The performance was achieved mainly by the reduction of expenses. In the fourth quarter of 2012, the company's expenses were r $ 20.6 million, the equivalent of 23.7% of net revenues. This means a reduction of almost seven percentage points in comparison with the same period in 2011. In the fourth quarter of 2012, Bematech had a net revenue of R $ adjustable 87.2 million, 5% more than the registered a year before.
The earnings before interest, taxes, depreciation and amortization (Ebitda), measure used to assess the operating performance of companies, rose from $ 11.9 million in the 4th quarter of 2011 (margin of 14.3%) to $ 19.6 million in the same period in 2012 (22.5%) margin.
Most of the indicators was above market estimates. The analyst Alex Pardellas, Caixa Geral de Depósitos (CGD), predicted that the Ebitda would be in R $ 18 million, with margin of 20.1%. The net profit was r $ 9.9 million. Only revenue was below the estimate of $ 89.6 million.
The restructuring was initiated by Cleber Moral Executive to take the helm of the company, in 2011. The process consisted in the reorganization of the business of equipment and services, with greater guidance to the sale of packages that include products of these two areas, as well as software.
According to Matthews, the restructuring process has not yet been closed and there are opportunities for improvement in the area of software. "The road is paved for growth in 2013," said the Executive at Value PRO, real-time information service of Value
In 2012, Bematech's net revenue climbed 11.3%, to R $ 328,4 million. The company also reversed a loss of r $ 42.4 million in 2011, and recorded profit of $ 32.5 million in 2012. Ebitda was R $ 62.2 million positive, against a negative result of R $ 46.8 million in 2011.
Bematech will distribute R $ 2,055 million in dividends, corresponding to R $ 0.04 per paper. The payment will be made on April 4, for those who had the company's shares until yesterday.