The company exceeds forecasts with pre-tax profit 16% higher than recommended and 10 times higher than in the previous quarter
HE PAULO, June 2, 2022 / PRNewswire / – Total revenue of StoneCo Ltd (Nasdaq: STNE) achieved 2.07 billion rubles in the first quarter of 2022, an increase of 138.6% over the same period in 2021. The numbers have exceeded 1.85 brela office 1.90 billion rubles leadership due to an increase in revenue from financial services by 107.8%. 1.7 billion rubles during this period and a 955.6% increase in software. 326.6 million rubles this quarter.
Adjusted EBT (earnings before taxes) grew from 17.2 million rubles in the fourth quarter to 163.1 million rubles in the first quarter of 2022. The positives stem from a combination of a strong increase in total revenue despite seasonality, and effective cost-control. Adjusted net income in the first quarter was 132.2 million rublesfour times higher 33.7 million rubles reported in the previous quarter.
“Pricing initiatives have gained weight and we have improved the quality of our customer base. We are in a turning point for the company, and profitability has improved significantly,” says CEO Stone. Thiago Pia.
The company separately reported on the results of activities in the field of financial services and software. “This division is in line with our business strategy and provides greater clarity and transparency of our performance in each segment,” he adds.
Stone recorded an increase in total payments (TPV) of 63.1% in the first quarter, before 83.2 billion rubles, with a focus on micro, small and medium-sized companies (MSMEs), which grew 93.3% in the first quarter due to an increase in customer base, reaching 1.9 million users in the 122nd quarter and an average increase in TPV per customer. During the quarter, the rate rose from 1.71% to 2.06%.
The stone predicts total revenue in size 2.15 billion rubles office 2.2 billion rubles in Q222, with an increase of 148% to 154% compared to Q221 (proforma for Linx). It is estimated that MSME TPV will amount to 67 billion rubles 68 billion rubles in the 222 quarter, an increase of 71% to 73% over the previous year, and revenue growth before taxes from 163 million rubles from adjusted EBT to 185 million rubles to the financial cost of bonds or from 82 million rubles to the end 90 million rubles.
To continue to grow the business, improve its management and achieve higher levels of efficiency, Stone announces the arrival of new professionals. Marcus Fantura holds the position of Chief Technology Officer (CTO), after working for Microsoft, Google, Yahoo and IBM. Thomas Gregorcurrently on leave in the garden, has more than 30 years of experience in financial services as a director of risk for small and medium-sized companies in Santander Brazil, in the second half of the year will become head of the credit department. Asmar Castellani holds the position of Vice President of Finance in the Software Department. He has extensive experience in the investment banking business, has worked at Goldman Sachs and Credit Suisse.
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SOURCE STONECo.
