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Cielo's profit drops by more than 30% in the fourth quarter of last year. installed base increases
Investing.com – Cielo (SA 🙂 published the balance sheet of its operations of the 4th quarter and 2018 Monday (28), after the closing of the Brazilian stock exchange. The result was below the market consensus, with a 30.6% reduction in net income in the last quarter of last year, from R $ 1.04 billion to R $ 724.1 million at , R $ 27. l & # 39; action. In 2018, the profits of the acquirer decreased by 17.6% over the previous year from R $ 4.05 to R $ 3.3 billion.
Net revenues reached R $ 3.01 billion this quarter, down 30.6%, while Ebitda (earnings before interest, taxes, depreciation and amortization) posted a loss of 20.8% in R $. In contrast to financial performance, Cielo's installed base grew by 9.7 percent in the last quarter of last year, thanks to progress in the micro and small business sector, due in part to the aggressive strategy of selling machines. for the internal market. strong competition, which led to a depreciation of nearly 60% of Cielo's shares in 2018. However, the strategy weighed on margins, the turnover reaching 0.96%, against 1.02% at the end of the year. same quarter of the previous year. 2017 and 1.19% in 2016. The total installed base amounts to 1.8 million units.
The shares of the acquirer rose at Monday's meeting, pending the publication of the balance sheet of the acquirer. . The stock is appreciated from 1.97% to 10.89 and will trade at R $ 11.19 the same day. The company's ADRs increased by 0.68% in New York,
Cielo's competitors followed a different trajectory in New York, where their shares are traded. Cielo (SA: CIEL3) will distribute R $ 709.5 million in fourth quarter-related dividends
Dividends
Cielo lost 3.9%, while PagSeguro (NYSE 🙂 fell 4.32%.
Each Brazilian shareholder holding ADRs traded in New York will receive R $ 0.26139975321 per share held in the portfolio at the close of the trading day of the 22nd and the payment is scheduled for March 11th.
The paper will be traded ex-dividends the following Monday, February 25.
The dividend represents a return of 2.4% compared to R $ 10. , 89 of the newspaper ending on Monday.
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