Cogna (COGN3) reduces adjusted loss by 87.3% in the fourth quarter

cosmos (COGN3) reported an adjusted loss of R$ 74.945 million in the fourth quarter of 2021 (Q4 of 21), a decrease of 87.3% compared to the calculated loss in the fourth quarter of 2020 of R$ 589.232 million.

In the year, the adjusted loss also decreased, but in the range of 75.1%, to reach R$ 210,723 million, while in 2020 it was R$ 845.294 million.

Without adjustments, the company reported Q4-21 net income of R$65 million, reversing a loss of R$4.019 billion from the previous year, primarily impacted by recognition of losses in the recoverable value of assets (impairment), of R$3.294 billion. .

Cogna EBITDA and Revenue

Ebitda’s frequency was positive in the fourth quarter of 21, at R$423.939 million, versus negative Ebitda of R$100.493 million in the fourth quarter of 2020. According to the company, Ebitda “moves Cogna to a new level of profitability.”

In the year, Ebitda’s profit jumped 96.4%, topping the billion: R$1.354 billion, compared to R$689.652 million accumulated in 2020.

However, net revenue decreased 5.6% to R$1.550 billion in Q421, compared to R$1.643 billion in Q4 of 2020.

For the full year of 2021, Cogna’s net revenue was R$5.281 billion, a decrease of 10.5% compared to R$5.899 billion for the full year of 2020.

More balance data

The result was “the result of the completion of the sale of Saber School District, in October 2021, and reflects the change in the mix, with a greater share of hybrid/digital education in higher education, in line with the strategic direction of exploring digital technology. Education as one of the avenues for growth,” the company explained. “The decline in revenue was partially offset by the strong performance of Vasta (+16%) and other companies (+25%).”

The net debt/EBITDA ratio for the past 12 months has remained stable at 2.16x, “maintaining leverage at a very healthy level and in line with Q321, which was the last quarter of relief in the covenant account,” Cogna explains.

Buying opportunity? XP Strategist reveals 6 cheap stocks to buy today. Watch here.

Related