TOTVS S.A. reported consolidated earnings results for the first quarter ended March 31, 2018. For the period, the company has posted net revenue of BRL 562.99 million against BRL 560.133 million a year ago. EBIT was BRL 62.27 million against BRL 53.82 million a year ago. Earnings before tax were BRL 51.15 million against BRL 42.29 million a year ago. Net income was BRL 34.31 million against BRL 30.16 million a year ago. EBITDA was BRL 96.76 million against BRL 88.244 million a year ago. Adjusted EBITDA was BRL 96.76 million against BRL 90.124 million a year ago. Adjusted net income was BRL 34.310 million against BRL 31.403 million a year ago. Net Debt was BRL 276.6 million in first quarter of 2018. Net debt declined 37% year-on-year. Operating cash flow generation decreased by 11% and 27% respectively.