Webcast Results
3Q2023
Investor Relations ri@padtec.com.br
Padtec S/A © 2023. Todos os direitos reservados.
Disclaimer
This material may contain projections and/or estimates of future events. The use of the terms "anticipates", "believes", "expects", "estimates", "plans", "anticipates", "projects", among others, is intended to signal possible trends and statements that evidently involve uncertainties and risks, and future results may differ from current expectations. Forward-looking statements are based on a variety of assumptions and factors, including economic, market and industry conditions, as well as operational factors.
Any changes in these assumptions and factors could lead to practical results that differ from current expectations. These forward-looking statements should not be fully relied upon. Forward-looking statements reflect only opinions as of the date they were made and presented.
The Company is not required to update them in the light of new information or new developments. The Company is not responsible for transactions that are carried out or for investment decisions that are made based on these projections and estimates. Finally, the pro forma financial information contained in this material is unaudited and, therefore, may differ from the final audited results.
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
3Q2023
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
Demand for Padtec solutions in Brazil resumes growth, remaining stable in the foreign market
Net Revenues (R$MM)
300 | 279.6 |
260.7
250
200
110.5 | 111.2 |
150 | |||||||||||||||
84.9 | 103.1 | 96.9 | 103.5 | ||||||||||||
100 | 79.2 | ||||||||||||||
72.8 | 51.7 | 58.0 | 65.5 | 34.7 | |||||||||||
50 | 54.8 | 55.7 | 27.5 | 53.2 | |||||||||||
38.9 | 23.4 | 23.5 | 30.2 | ||||||||||||
8.8 | 18.7 | 19.7 | 11.4 | ||||||||||||
0 | 9.2 | 10.5 | 12.6 | 14.6 | 15.6 | 14.6 | |||||||||
1Q22 | 2Q22 | 3Q22 | 9M22 | 1Q23 | 2Q23 | 3Q23 | 9M23 |
DWDM Brazil
DWDM Foreign Market
Services, Softwares & Platforms
9M23 x 9M22
Total Net Revenues: +7.2%
DWDM Brazil: +8.9%
DWDM Foreign Market : (12.3%)
Services, Softwares & Platforms : +38.8%
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
Focus on profitability, record gross margin1 in 3Q23: 37.9%
(9M23: 36.7%)
Gross Margin (%)
50% | ||||||||
40% | ||||||||
30% | ||||||||
20% | ||||||||
28.4% | 33.2% | 32.3% | 33.1% | 36.0% | 36.0% | 37.9% | ||
10% | ||||||||
0% | ||||||||
1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 |
1 Considers combined consolidated results (Padtec S.A. + Ideiasnet S.A.) since January 2019.
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
Record EBITDA1 in 3Q23: R$ 25.4 million
EBITDA (R$ MM); Adjusted EBITDA (R$MM); EBITDA Margin (%)
46.0 | |||||||||||||||||||||||||||||||||
40 | 16.4% | ||||||||||||||||||||||||||||||||
RECORD | |||||||||||||||||||||||||||||||||
27.7 | |||||||||||||||||||||||||||||||||
35 | |||||||||||||||||||||||||||||||||
10.6% | |||||||||||||||||||||||||||||||||
30 | 20.6 | ||||||||||||||||||||||||||||||||
8.7 | |||||||||||||||||||||||||||||||||
25 | 11.1% | ||||||||||||||||||||||||||||||||
5.6% | |||||||||||||||||||||||||||||||||
12.9 | |||||||||||||||||||||||||||||||||
20 | 19.6 | ||||||||||||||||||||||||||||||||
7.7 | 12.2% | ||||||||||||||||||||||||||||||||
15 | 5.2 | 8.7 | |||||||||||||||||||||||||||||||
10 | 3.5 | 9.7% | 20 | ||||||||||||||||||||||||||||||
6.2% | 19 | ||||||||||||||||||||||||||||||||
4.9% | 11.9 | ||||||||||||||||||||||||||||||||
5 | 7.7 | ||||||||||||||||||||||||||||||||
5.2 | |||||||||||||||||||||||||||||||||
0 | 3.5 | -1.0 | -5.4 | ||||||||||||||||||||||||||||||
-1.0 | |||||||||||||||||||||||||||||||||
-5 | |||||||||||||||||||||||||||||||||
1Q22 | 2Q22 | 3Q22 | 9M22 | 1Q23 | 2Q23 | 3Q23 | 9M23 |
EBITDA
Adjusted EBITDA
Non operational effects
EBITDA:
3Q23 x 2Q23 +97.2%
3Q23 x 3Q22 +33.9%
9M23 x 9M22 +65.8%
1 Considers combined consolidated results (Padtec S.A. + Ideiasnet S.A.) since January 2019.
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
R&D x Net Revenues (R$MM)
50 | 43.6 | 41.7 | ||
40 | 35.8 | 31.1 | ||
30 | ||||
20 | ||||
10 | ||||
0 | 14% | 13% | 11% | 11% |
2020 | 2021 | 2022 | 9M23 |
Sales Expenses x | ||||||||||||
10% | Net Revenues (R$MM) | |||||||||||
9% | 9% | 9% | 9% | |||||||||
8% | ||||||||||||
6%
4%
2%
0%
2020 2021 2022 9M23
Administrative Expenses x
Net Revenues (R$MM)
12% | |||
10% | |||
10% | 8% | 8% | 8% |
8% | |||
6% | |||
4% | |||
2% | |||
0% | |||
2020 | 2021 | 2022 | 9M23 |
Financial Expenses x
Net Revenues* (R$MM)
12% | ||||
10% | ||||
8% | 6% | |||
6% | 5% | |||
4% | ||||
4% | 3% | |||
2% | ||||
0% | ||||
2020 | 2021 | 2022 | 9M23 |
Padtec S/A © 2023. Todos os direitos reservados.
*Does not consider exchange variation.
Financial Results
Debt restructuring successfully concluded in 2Q23
More than 90% in long-term, average funding cost: 6.3% p.a.
Debt: long X short term (R$MM) | Net Debt / LTM EBITDA¹ (X) | ||
150 | 2 | ||
113.3 | 104.3 | |||
100 | 83.7 | |||
82.5 | ||||
50 | 77.1% | 79.7% | 69.9% | 90.7% |
22.9% | 20.3% | 30.1% | 9.3% | |
0 | ||||
2020 | 2021 | 2022 | 9M23 |
Short term debt
Long term debt
1
1.42
0.85
0
(0.06)
(0.33)
-1
2020 2021 2022 9M23
¹ LTM EBITDA corresponds to the sum of the EBITDA recorded in the last twelve months.
Padtec S/A © 2023. Todos os direitos reservados.
Financial Results
Debt Evolution (R$MM)
150 | ||||||||
100 | ||||||||
50 | 113.3 | 104.3 | ||||||
0 | 0.7 | 41.3 | 53.6 | |||||
(1.5) | ||||||||
-50 | (50.5) | (49.3) | ||||||
-100 | ||||||||
Gross Debt | Interest | Amortization | New Loans | Gross Debt | Cash and Cash | Financial | Net Debt 9M23 | |
2022 | and Principal | 9M23 | Equivalents | Investments in | ||||
Payment | Guarantee |
Padtec S/A © 2023. Todos os direitos reservados.
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Disclaimer
Padtec Holding SA published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2023 14:17:50 UTC.