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Positivo (POSI3) generated profits of R$64 million in the first quarter of 2024, an increase of 7.5 times in the year-on-year comparison.

Positivo (POSI3) generated profits of R$64 million in the first quarter of 2024, an increase of 7.5 times in the year-on-year comparison.

Positivo (POSI3) made a profit of R$64.3 million in the first quarter of 2024 (1Q24), according to the balance sheet released on Tuesday night, the 14th, and the reported net profit was 655% higher than the 1Q20 figure. 23. Or 7.5 times larger.

According to the company, this was the highest first-quarter net profit ever reported by the manufacturer.

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to R$115.6 million in the first quarter of 2024, an increase of 36.3% compared to the same period in 2023. Despite this, the EBITDA margin decreased by 0.4 percentage points to 11.6%.

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Positive (POSI3): results

The company’s total revenue reached R$1.17 billion in the first quarter of 2024, an increase of 37.7% compared to the same quarter in 2023. This figure was driven by a recovery in consumption and strong sales in payment solutions and special projects.

Operating cash generation in the first quarter of 2024 amounted to R$83 million, mainly supported by higher net profit in the period.

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Leverage, in turn, decreased by 0.2x (compared to 1Q23 and 4Q23, with the relationship between net debt and EBITDA falling to 1.3x).

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