Cielo - 23.3% Increase in Financial Volume and Net Income of R$721 Million in 4Q13
Cielo - 23.3% Increase in Financial Volume and Net Income of R$721 Million in 4Q13 PR Newswire BARUERI, Brazil, Jan. 28, 2014 BARUERI, Brazil, Jan. 28, 2014 /PRNewswire/ -- Cielo S.A. (BM&FBOVESPA: CIEL3 / OTCQX: CIOXY) announces today its results for the fourth quarter and year of 2013. The Company's consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and in accordance with the accounting practices adopted in Brazil. 4Q13 HIGHLIGHTS o Change in the methodology that the Company uses to account revenues from commissions from credit card installment sales; all the information and financial statements presented are already in accordance with the new criterion; o Transaction financial volume totaled R$131.6 billion, up 23.3% year-on-year, or R$24.8 billion; and increase of 16.3% compared to 3Q13, or R$18.4 million; o Net Operating Revenue of R$1.9 billion, up 14.7% or R$237.3 million year-on-year and 6.7% or R$115.9 million quarter-on-quarter; o Net revenue from Prepayment of Receivables* totaled R$186.9 million, up 33.0% or R$46.4 million year-on-year and 27.3% or R$40.1 million quarter-on-quarter; o Prepayment of Receivables reached 17.3%, over the financial volume of credit, up 4.6 p.p. year-on-year and up 0.7 p.p. quarter-on-quarter; o EBITDA of R$912.7 million, up 8.9% or R$74.9 million year-on-year and decrease of 1.9% or R$17.5 million quarter-on-quarter; o EBITDA margin at 49.2%, down 2.6 p.p. year-on-year and 4.3 p.p. quarter-on-quarter; o Cielo's net income totaled R$720.7 million, up 16.2% or R$100.3 million year-on-year and 4.5% or R$31 million quarter-on-quarter; *Net funding costs revenue (see explanation in management analysis of Prepayment of Receivables Revenue) Click on the link below to open the earnings release: http://cielo.riweb.com.br/ShowResultado.aspx?IdResultado=AAPbfc2mbkZgESeVlts5qg==&linguagem=en 4Q13 Earnings Conference Call January 29, 2014 ENGLISH 09:00 a.m. (NY) | 12:00 p.m. (Brasilia) Phone: +1 786 924-6977 Code: Cielo PORTUGUESE 07:30 a.m. (NY) | 10:30 a.m. (Brasilia) Phone: +55 11 4688 6361 Code: Cielo Investor Relations Director Roberta Noronha email@example.com +55 11 2184-3739 SOURCE Cielo S.A.