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SONDA revenues reached US$ 863.7 million during the first nine months of 2018

23/10/2018

October 23, 2018.-  SONDA, the leading Latin American network of IT Services, reported its results for the first nine months of 2018, in which consolidated revenues totaled $ 570,406 million, equivalent to US$ 863.7 million, EBITDA reached $ 62,380 million, equivalent to US$ 94.5 million, and net income was $6,938 million, equivalent to US$10.5 million. The latter included a negative effect over tax (-US$14.1 million) as a consequence of exchange rate fluctuations (CLP/USD).

The EBITDA margin for the period was 10.9%, standing out the improvement in EBITDA margin reached in Brazil and OPLA (Other Countries in Latin America). In Brazil, in local currency, the EBITDA increased 23.8% compared to 2017, and in OPLA, 27.1%. In addition, OPLA reached an increase of 18.2% in revenues in constant currency.

The depreciation of the Brazilian real, Mexican peso, Colombian peso and Argentine peso, translated to the Chilean peso, negatively affected the translation of results into reporting currency. In constant currency, consolidated revenues increased 0.5% and EBITDA decreased 6.9%.

Business closings reached US$ 933.5 million, highlighting the increase registered in OPLA (+32.3%). IT Services contributed with 57.8% of the contracts closings, highlighting the closings in IT Outsourcing, which contributed with 31.9% of the company's business closed.

Business opportunities ("pipeline") reached US$ 3,524.9 million, representing an increase of 0.6% compared to the first nine months of 2017. It stands out the increase of new opportunities registered in OPLA (+32.6%) and Chile (+47.5%).

Regarding SONDA´s results, the CEO of SONDA, Raúl Véjar, pointed out that "2018 has been a challenging year and has not been free of complexities, but the results we have obtained after a series of measures implemented to deal with them, demonstrate that we are going in the right direction. In Brazil we see positive signs and our operation is improving its margins and results quarter after quarter. At a consolidated level, the results also show improvements comparing to previous quarters. In particular, without considering exchange rate effects, in this quarter we achieved revenue growth in all regions. This greater dynamism reinforces our optimism for the next quarters”.

About SONDA: SONDA is the leading Latin American network of IT services and solutions in the region, with revenues of US$ 1,369 million in 2017 and 17 thousand employees, with a direct presence in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, Peru and Uruguay.