Positivo Tecnologia reverses losses of 2018 – BNamericas English

Brazil

Press Release

Positivo Tecnologia S.A. (“Company”) (B3: POSI3) announces today its operating and financial results for the 4Q19. 

The information is presented in IFRS and in Brazilian Reais (R$). Except where otherwise indicated, all comparisons herein refer to the 4Q18. 

· Net income of R$5.3 million in 4Q19 (+303.2%) and R$20.8 million in 2019 (+4,269.60%), reverting net loss of R$0.5 million presented in 2018. 

· Adjusted EBITDA of R$35.9 million in 4Q19, with a margin of 6.5% (-2.4 p.p.). In 2019, adjusted EBITDA totaled R$144.0 million, with a margin of 7.5% (+1.5 p.p.). 

· HaaS: Positivo As a Service recorded a growth of 93.6% in revenue in 2019 vs. 2018 

· Servers: revenue of R$221.3 million in 2019 (+36.5% vs 2018) 

· Educational Technology: Business unit records revenue of R$47.5 million (+35.5% vs. 2018). 

· Core Business: growth in demand for technology devices, following the recovery in consumption indicators in Brazil, according to IDC: ü Computers: +9.1% in 4Q19 vs. 4Q18 and +2.8% in 2019 vs. 2018 ü Mobile Phones: +18.6% in 4Q19 vs. 4Q18 and +8.3% in 2019 vs. 2018 

· Follow-On: funding of R$353.7 million in Jan/20. Proceeds will be used to finance the Company’s sustainable growth in the government segment, support the organic and inorganic increase of its key growth drivers, such as HaaS, Servers, Educational Technology and IoT – Positivo Casa Inteligente, and to enchance its capital structure.