Consolidated revenues of SONDA reach US$366 million and show solid growth across all geographies

Consolidated revenues of SONDA reach US$366 million and show solid growth across all geographies

According to financial results for the first quarter reported to the Financial Market Commission (CMF):

April 26, 2024.- SONDA, a leading company in providing solutions to accelerate digital transformation, reported its financial results for the first quarter of 2024, with consolidated revenues reaching US$366 million, representing a 27.5% increase compared to the first quarter of 2023. The positive result is attributed to the closings of significant contracts and increased demand for technology services.

The operating result reached US$22 million, representing a 23.8% increase compared to the same period in 2023. The EBITDA, on the other hand, stood at US$35 million, with a year over year expansion of 24.6%.

Net Income attributable to the owners, stood at US$5 million. Although it is lower by US$8 million compared to the same period in 2023, it is in line with expectations and is mainly explained by a non-recurring financial gain and non-cash generated in the first quarter of 2023 due to the takeover of Multicaja in January 2023.

In terms of commercial activity, SONDA reported business closings totaling US$437 million, representing a growth of 15.5%, driven by growth in the Andean Region and Brazil. Similarly, the pipeline of new business opportunities exceeded US$5.5 billion, which is a 14.6% increase over the figure recorded at the end of 2023.

Following the first-quarter results, SONDA's Chairman of the Board, José Orlandini, explained that "both the public and private sectors increasingly require the integration of more technology in the digital transformation of their processes, which has allowed SONDA to accompany them in this development."

Regarding the contract closings during the period, notable business additions include additional contracts within the framework of the Infovía Digital contract in Brazil, an MPS contract with the largest network of clinics in Brazil, a Service Desk project with a major health insurer, a new security contract with Municipality of Vitacura in Chile, an expansion of the security contract in Uruguay, and a new fleet management contract for "Tren Ligero” in Mexico.

Similarly, within the framework of SONDA's startup ecosystem, which now surpasses 60 firms worldwide, the first contract in Uruguay was closed during the first quarter. This addition complements the business closings in other countries, such as Chile, Mexico, and Peru, as a result of the strategic alliances that have been formed.

"This 2024, we expect to grow at the same pace as we did in 2023. We have a strategic plan that has been successful, not only in terms of closing new business deals but also in improving and consolidating our competitive position in Brazil and North America as a leading player in offering innovative technological solutions," declared Orlandini. "We see growth opportunities, especially in the retail, banking & insurance, and healthcare industries. Alongside this, we will continue to deepen our startup ecosystem, with which we have forged a strong and mutually beneficial relationship in terms of offerings," concluded Orlandini.