Solid result reflects 28.81TP3Q expansion in revenue and progress in deleveraging strategy, but 21.31TP3Q drop in quarterly profit requires adjustments
. Simpar (SIMH3), the holding company that controls companies operating in strategic sectors such as logistics, car rental, concessions and financial services, posted solid results in the third quarter of this year (3Q24), with highlights in revenue growth and Ebitda (earnings before interest, taxes, depreciation and amortization), according to the company's financial statement released to the market on Tuesday (12).
In terms of net profit, Simpar posted a result of R$ 125 million in 3Q24, which represents a recovery compared to the loss of R$ 110.6 million recorded in 3Q23. However, in comparison with 2Q24, net profit fell by 21.3%, indicating the need for financial adjustments to maintain the consistent growth trajectory.
For Simpar's CFO, Denys Ferrez, this result, which he considers one-off, represents a "cleaning up" phase in the company's portfolio, which hopes to return to regularity and maintain consistent growth after this phase. "Management has also become more selective in the origination of new contracts, focusing on a conservative approach to ensure that revenue is generated on solid foundations, since part of the contracts are still in the process of being physically repossessed," he says.
On the other hand, the company recorded an increase in its gross revenue, which reached R$ 11.94 billion in 3Q24, representing an expansion of 28.8% compared to the same period last year (3Q23) and a growth of 5.7% compared to the previous quarter (2Q24). This increase, says the financial director, was driven by the progress of Simpar's operations, which is investing in organic growth and strengthening the operational bases of its subsidiaries.
Simpar's net revenue also followed the upward trend, totaling R$ 10.87 billion, up 30.6% year-on-year and 5.4% quarter-on-quarter. Net revenue from services reached R$ 8.43 billion, an increase of 26.0% compared to 3Q23, showing the consistent demand for services from subsidiaries, especially in the areas of logistics and vehicle rental.
Read the full story at: Simpar (SIMH3) registers profit of R$ 125 million in 3Q24 with increase in revenue and Ebitda