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SONDA's revenue growth was 33% in the first half, driven by digital transformation projects and upcoming business launches

As a result of increased activity in Smart Cities projects and relevant business contracts throughout the region, the company reported a profit of US20,5$ million.

As a result of increased activity in Smart Cities projects and relevant business contracts throughout the region, the company reported a profit of US20,5$ million.

 

July 28, 2023 - SONDA, a prominent digital transformation company, released its consolidated financial results for the first half of 2023. The company achieved a net profit of US$20,5 million, which was 33,0% higher than the same period in 2022. Additionally, the consolidated revenues amounted to US$705 million, showing a notable increase of 16,7% compared to the same period in 2022, primarily driven by enhanced commercial activity.

Meanwhile, EBITDA reached US$62,5 million, slightly below what it did in the first half of 2022.

According to the integrator of technological solutions, these results are due to the company's excellent performance in Smart Cities projects and digital transformation projects. Additionally, it is negotiating new contracts in the countries where it operates and seeking to expand regionally.

 “The results are in line with what we expect to achieve in 2023. We have been able to make progress in developing impactful solutions and in the digital transformation of our clients, according to the strategic plan 2022-2024,” mentioned José Orlandini, the Chief Executive Officer (CEO) of SONDA.

The financial and growth success of the company is also due to the internal organizational strategy, which has led to industry-specific specialization: 

"Our work structure and knowledge have enabled us to provide customers with solutions that add value in the different geographies in which we are present" concluded José Orlandini.

During the period, a significant event for SONDA was the closure of a 50 million-dollar contract with Codelco, a mining company. The project's main objective is t to support Codelco's IT and communications equipment needs.

SONDA also initiated the operation of the "Your Protected Neighborhood" project with the Municipality of Las Condes. This initiative involves the implementation of a video surveillance system that incorporates artificial intelligence to automatically process images and generate alarms for detecting crime risks.

As a recognition of the successful implementation and impact of this project, SONDA was awarded the Smart City Awards 2023 at the Smart Cities Meeting. This award highlights the company's excellence in creating innovative solutions for smart cities and its commitment to leveraging technology to improve urban living and safety.

Additionally, there are agreements with the existing concessionaire of the Unemployment Fund Administrator in Chile. There are currently agreements with companies in the United States, Brazil, and Uruguay in banking, insurance, health, and transportation.

The Ministry of the Interior of Uruguay has signed a contract for a project in Montevideo. An expansion of a comprehensive surveillance and public security system was the goal of this project. It focuses on implementing and configuring all devices to improve security standards. As a result of this project, the Ministry now adds 2,100 video surveillance cameras to the 4,400 already installed, providing the capital with a total of 6,500 devices.

Sonda is a leader in Digital Transformation services in the region, with revenues of $1,248 million in 2022 and more than 13,000 employees. The company operates in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, the United States, Mexico, Panama, Guatemala, Peru, and Uruguay.

 

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