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Ourinventory of R$ 1 billion enables us to meet the strong demandCompany's growth pace for the coming quarters.
and will support the
Net income reached R$ 51 million in the quarter and R$107 million in thesix-monthperiodagainst net loss in the same periods in 2020.
Computer salesincreased 52% YoY, confirming the maintenance of high sales volumes.Complete brand portfoliowith greater penetration in all Consumer segments.
The Corporate Unit achieved sales of R$ 157 million in the quarter, growing 52% YoY with the new organizational structure.
Payment Solutions withstrong pipeline of new clients.
Revenues for thePublic Institutions unit area reached R$ 237 million in 2Q21 due to new bidswon in the period.
Educational - Technology and Innovation Ecosystem, Positivo Tecnologia's business unit
focused on education initiated operations to meet the needs of public and private schools.
Grossmargin of 26% in 2Q21, a 11.6 p.p. improvement YoY, confirming resumption in
2Q21 EARNINGS RELEASE
Curitiba, August 10, 2021 - Positivo Tecnologia S.A. ("Positivo Technologia" or "Company"; B3: POSI3), one of the largest technology developers and manufacturers based on hardware in Latin America, announces its results for the second quarter of 2021 ("2Q21"). The financial information presented below, except where otherwise indicated, is in accordance with IFRS (International Financial Reporting Standards) accounting standards. Amounts in Reais (R$).
POSITIVO TECNOLOGIA INCREASES ITS GROSS REVENUES BY 87% AND RECORDS A NET INCOME OF R$107 MILLION IN THE FIRST SIX MONTHS, GIVING CONTINUITY TO ITS TRANSFORMATION STRATEGY
Net revenue of R$940 million in 2Q21, 89% higher than the same period in 2020.
Strong operating results when compared to all other periods:(i) LTM EBITDA of R$327 million in 2Q21, a record result; (ii) EBITDA of R$163 million in thesix-monthperiod, reversing the null EBITDA recorded in the same period of 2020, and; (iii) EBITDA of R$102 million in 2Q21, nearly 12x higher YoY.
2Q21 EARNINGS RELEASE
POSITIVO TECNOLOGIA S.A.
The largest technology developer
and manufacturer based on
hardware in Brazil.
Indicadores de Resultados
FINANCIAL HIGHLIGHTS (R$ '000)
Adjusted EBITDA Margin*
Net Debt / EBITDA LTM
*Does not include non-recurring items and includes equity results of Positivo BGH, of which Positivo Tecnologia holds 50% and has operations in Argentina, Rwanda and Kenya, in addition to the HiLab startup.
2Q21 EARNINGS RELEASE
MESSAGE FROM MANAGEMENT
The second quarter was marked by Positivo Tecnologia's progress in its transformation process with diversification of revenues, supported by the continued strong demand for hardware in all our operating segments: consumer, corporate and public institutions. The strong demand for hardware led the Brazilian computer market to reach an annual demand of approximately 8 million units, in line and supported by the same global growth trends, and consolidated by the strong, and certainly permanent, adoption of hybrid models for work and schools, which significantly impacted, in particular, the consumption and usage pattern for notebooks, desktops and servers. Positivo Tecnologia's core computer business consolidated a domestic retail market share of 16%, gaining positions in practically all its three operating segments through the Positivo, Compaq and Vaio brands.
Anchored on this strong trend, Positivo Tecnologia continues to transform its business model and diversifying its revenues by offering technology services based on its hardware solutions to different market segments. In addition to highly complex special projects, such as the Electronic Voting Machines, Positivo is also gaining scale in its Payment Solutions and Educational Technology areas, which we believe are strongly related to the Company's core operations and where we have been experiencing great growth opportunities.
With the quality seal assured by Positivo Tecnologia S.A., who has been investing in educational technology since 1994, we recently launched the Educational - Technology and Innovation Ecosystem initiative. Integrating and connecting the best solutions, educational institutions, publishing houses, national and international companies, students, parents, edtechs, NGOs and Foundations so that together they can transform the teaching-learning process, Educacional - Ecossistema de Tecnologia e Inovação arrives on the market as a great promise for boosting education in the country. In order to reach this goal, in addition to offering its current portfolio (traditional business model), the Educational - Technology and Innovation Ecosystem initiative has structured pedagogical and hardware suites comprised of proprietary and third-party solutions focused on basic Portuguese, Mathematics and STEAM (an English acronym for Science, Technology, Engineering and Mathematics) education offering public and private schools means of curation, flexibility and intelligence.
This diversification strategy, along with the strong demand for computers - which has been recording volume rates above 50% YoY - continue to sustain new records in revenue, growth and profitability, reflecting in consistent results for yet another consecutive quarter. We believe that 2021 will be the best year in our history and we intend to continue leveraging this result by building strong foundations for a leading Technology Company in the Brazilian market.
Also in this quarter, we are very proud to announce that Positivo Tecnologia was selected to become part of the Board of Directors of the Distributed Management Task Force (DMTF), one of the most important global technology forums. A non-profit institute that establishes open standards for management and industrialization in the information technology (IT) sector. Positivo is the first Brazilian company to become a member of this Board and assumes responsibility alongside eight technology multinationals: Cisco, Dell, HP, Lenovo, Intel, NetApp, Broadcom and Verizon.
Furthermore, in addition to the structuring of our new Corporate Vice-Presidency, which took place in May, we highlight the Corporate Unit's good performance in the quarter, with strong demands for laptops, in line with the growing trend for the remote work model and the need for companies to adapt. We conquered large accounts as the small and medium corporate segment also begins to heat up again. In addition, our improved server positioning and increase in HaaS services (with higher demand for Haas coming from large corporations, public institutions and public schools) continues to accelerate our growth opportunities, not just in hardware sales, but also in the provision of services.
Our IoT consumer initiatives, known "Positivo Casa Inteligente", continue to reach new goals such as the Smart Wi-Fi Lamp, which was, once again, the best-selling product in the Brazilian version of the Amazon Prime Day, which took place on June 21st and 22nd. It is also worth mentioning the partnerships that been signed with Positivo Casa Inteligente and major real estate developers, fostering the use of this solution and accelerating this Avenue for Growth in the corporate segment.
Regarding the global crisis in integrated circuits that we have seen since the end of last year, we are very optimistic that we will be able to supply everything we plan to deliver by the end of this year. We are already noticing a slowdown in the rise of components, which may mean that we have already reached the peak of the crisis, but we believe that it is still premature to conclude when there will be full normalization of the supply chain. It is important to mention that in recent weeks, the issue of components was added, a logistical crisis in Asia, especially in China, which should normalize in the coming weeks.
We remain confident that our work continues to build the foundations for a new Positivo Tecnologia which, in addition to bringing innovations to the market in a very simple and accessible way, also consolidates the trend for solid revenue diversification with less fluctuations and better margins.
Finally, we thank our employees, partners, customers and shareholders for their trust.
2Q21 EARNINGS RELEASE
OUR BUSINESS MODEL
Through a business organization that allows us to ensure a strong presence and solid market share, we were able to consolidate key competences in the development, production and distribution of hardware, services and peripheral software. As shown in the table below, we illustrate how Positivo Tecnologia organizes its Business Units and the breakdown of its audiences and product lines:
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Positivo Tecnologia SA published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 23:25:10 UTC.