- The result was more than three times greater than for the
same period in 2022;
- The company reported R$ 3.1
billion net revenue, and 25.2% annual growth;
- Adjusted EBT totals R$ 545
million, a 228% increase year-on-year, 16% above
guidance;
- TPV in the Micro, Small and Medium Entrepreneurs (MSME)
segment had a 20% annual increase;
SÃO PAULO, Nov. 10,
2023 /PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE, B3:
STOC31), closed the third quarter with strong growth, exceeding
projections and with significant evolution across all products.
Adjusted EBT (earnings before taxes) was R$
545 million, a 228% increase year-on-year, and 21.9%
compared to the previous quarter. Net revenue closed 3Q23 at
R$ 3.1 billion, with a 25.2% growth
year on year.
In the Financial Services segment, revenue grew by 29%, reaching
R$ 2.7 billion. The Banking platform
reached 1.9 million customers, with a 244.2% annual increase,
closing the quarter with R$ 4.5
billion in deposits, above 51.1% in the annual comparison.
In the credit operation, 3Q23 marked the end of the testing phase,
with a portfolio of R$ 113 million.
The company plans to continue expanding supply cautiously and
observing market conditions.
The software segment continues to improve the EBITDA margin,
with efficiency gains in the integration of back-office processes,
which resulted in a 6 p.p. increase in margin, reaching 20.5%.
Revenue grew by 5.9% year-on-year, totaling R$ 388 million.
Maintaining the trajectory of evolution and profitability,
adjusted net earnings reached R$ 435
million, a 302% increase in the year, with an adjusted net
margin of 13.9%, compared to 10.9% in 2Q23. Adjusted net cash
closed at R$ 4.9 billion, up 56.5%
YoY and 12.3% in the quarter, with a R$ 530
million increase.
The active payments customer base reached 3.3 million, with the
addition of 316 thousand customers, and the MSME segment growing
41.7% year-on-year, exceeding 3.2 million. The volume of processed
payments (TPV) in MSMEs grew by 20% in the year, totaling
R$ 89.6 billion, more than double the
market. This growth was also linked to the evolution of the Take
Rate, which rose to 2.49%, a 28 percentage points increase year
over year.
"This quarter's strong results demonstrate discipline and focus
in deploying our strategy. We grew consistently and with quality.
We are looking to the future to consolidate the integration of our
services for delivering the best and most complete solutions to our
customers", says CEO Pedro
Zinner.
Share buyback
On Sep
21, Stone's Board of Directors approved a repurchase program
of R$ 300 million in outstanding
Class A common shares. The program was concluded in November.
Management structure reorganization
On
Oct 9, the company announced
organizational changes in the management structure for better
aligning the company with specific market entry strategies by
customer segment, and accelerating the integration of its
segments.
About Stone.
Stone is a financial technology company that has a complete
solutions platform, whose purpose is to improve the lives of
Brazilian entrepreneurs, helping them to sell more, manage their
business better, and grow steadily. Through technology and
innovation, it contributes to strengthening and evolving the
market. With customers spread across Brazil, it develops a close and personalized
relationship with each of the retailers it serves.
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SOURCE Stone