Net profits of the Cielo 16.2% to r $ grows 720,7 mi

SAO PAULO-the Cielo, company that makes registration of shopkeepers to capture transactions for flags of credit and debit cards, opened on Tuesday, 28, the season of disclosures of results of the fourth quarter of 2013 to disclose net income of r $ 720,7 million in the period, 16.2% higher than the amount seen in 12 months. In comparison with the preceding three months, growth was 4.5%.
The cash generation as measured by Ebitda (earnings before interest, taxes, depreciation and amortization) of the company reached r $ 912.7 million between October and December last year, a growth of 8.9% compared to the amount seen in the same range of 2012, of R $ 837,8 million. Compared with the third quarter of 2013, was decrease of 1.9%. The Ebitda margin of the Cielo was 49.2% in the fourth quarter, down 2.6 percentage points in 12 months and 4.3 p.p. compared with the third quarter of last year.
The Cielo disclosed that its net operating revenue totaled r $ 1,853 billion during the last three months of 2013, high of 14.7% compared to the same time last year. Compared to the third quarter, was seen increased 6.7%.
In a report accompanying its financial statements, the Cielo stressed that the form of changed accounting of Commission revenues arising from sales with splitted card, as reported in December to the market. With that, all the information and financial statements submitted by the company are in accordance with the new policy.
Results in 2013
In 2013, the acquirer's net profit stood at R $ 2,674 Cielo billion. The figure is 14.9% seen in the previous year. The growth presented last year surpassed the "soft guidance" given by Cielo for the expansion of its outcome in the period, from 7% to 10% before 2012. However, the projection, as executives at Cielo, did not represent a reference, but only a preliminary estimate.
The President of the company, Romulus de Mello Dias, had previously admitted, including that the soft guidance was conservative after the results of the first half of 2013. On occasion, however, he chose not to give new numbers on "macroeconomic and competitive environment".
The Ebitda of the Cielo in 2013 totaled r $ 3,575 billion, 15.4% compared to 2012. The net operating revenue was r $ 6,734, 25.0% higher amount billion, on the same basis of comparison. (
The net profits of the Cielo in the fourth quarter of 2013 was in line with analysts ' expectations. However, the cash generation as measured by Ebitda (earnings before interest, taxes, depreciation and amortization) and the company's net operating revenue came in below the expected average.
The average of seven houses consulted by Broadcast, real-time news service the Agência Estado (Agora, BTG Pactual, Citibank, Credit Suisse, Deutsche Bank, UBS and Harvest) indicated net profit of around r $ 728 million in the period, i.e. the result presented was 1% lower.
To Ebitda, analysts of the seven houses queried average R $ cipher design 1,128 billion during the period. The difference was 19.1%.
The net operating revenue of Cielo was 9.7% below the average projection of $ 2,052 billion estimated by analysts.