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%.

Download our list of 10 small-cap stocks that, in expert opinion, have upside potential in the coming months and years, and watch a free lesson

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.

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