EBITDA increased 38.4% in Brazil in the first half of 2018


July 24, 2018.- SONDA, the leading Latin American network of IT Services, reported its results for the first half of 2018. Consolidated revenues totaled Ch.$367,899 million, equivalent to US$564.9 million, EBITDA was Ch.$37,867 million, equivalent to US$58.1 million, and net income was Ch.$1,336 million, equivalent to US$2.1 million. The latter included a negative effect over tax (-US$11.4 million) as a consequence of exchange rate fluctuations (CLP/USD).

It stands out the improvement in EBITDA margin reached in Brazil and OPLA (Other Countries in Latin America). In Brazil, in local currency, the EBITDA increased 38.4% compared to 2017. In the case of OPLA, the EBITDA grew 33.7%. 

The depreciation of Brazilian real, Mexican peso, Colombian peso and Argentinean peso respect to Chilean peso, negatively affected the translation of SONDA’s results into reporting currency (CLP). Excluding exchange rate effects, consolidated revenues and EBITDA would have decreased 2.5% and 9.2%, respectively.

Business closed totaled US$574.3 million, highlighting the increase registered in OPLA (+29.7%). IT Services contributed with 54.8% of business closed, where it stands out the contribution of new deals closed in IT Outsourcing (28.6%) to the total of SONDA’s business closed.

Business opportunities (“the pipeline”) reached US$3,603.7 million, up 2.4% compared to 2017. It stands out the increase of new opportunities registered in Chile and OPLA.

Regarding SONDA’s results, Mr. Raúl Véjar, CEO of the Company, said: "2018 has been a challenging year. In spite that exchange rate effects have negatively affected our results, we are seeing with an increasing optimism the improvements that we are obtaining as a consequence of action plans executed to recover margins in our operations, particularly in Brazil and OPLA".