Cielo Posts Adjusted EBITDA Margin at 70% and Net Income Margin at 44% in 2Q10
SAO PAULO, Aug. 5 /PRNewswire-FirstCall/ -- Cielo S.A. (formerly named VisaNet) (OTC: CIOXY; BOVESPA: CIEL3), the leading merchant acquirer and payment processor in Brazil, released its 2Q10 earnings.
Below are some of the second quarter highlights:
- Transaction Financial Volume up 21.9% in 2Q10 over year-ago period, to R$ 61.6 billion; up 4.8% over 1Q10;
- Net Operating Revenue up 21.6%, to R$ 1.049 billion; up 2.8% over 1Q10;
- Costs and Expenses totaled R$ 360.0 million in 2Q10, up 12.8% over 2Q09 and 2.6% over 1Q10;
- Adjusted EBITDA up 26.1% over 2Q09 to R$ 735.3 million, and up 3.0% over 1Q10;
- Adjusted EBITDA Margin at 70.1% in 2Q10, up 2.5 p.p. over 2Q09 and up 0.1 p.p. quarter-on-quarter;
- Net Income up 25.5% over 2Q09, to R$ 457.7 million, and up 4.0% over 1Q10;
- Net Income Margin at 43.6%, up 1.3 p.p. over 2Q09 and up 0.4 p.p. over 1Q10;
- Over 1.8 million Affiliated Merchants, covering 97.9% of Brazilian municipalities;
- Partnership with HSBC: Cielo has become the bank's preferred acquirer;
To open the earnings release click on the link below:
http://www.mzweb.com.br/visanet/web/arquivos/Cielo_Release2T10_20100804_eng.pdf
2Q10 Earnings Conference Call
August 5, 2010
ENGLISH
11:00 a.m. (NY) | 12:00 p.m. (Brasilia)
Phone: +1 412 858 4600
Code: Cielo
Webcast: http://webcast.mz-ir.com/publico.aspx?codplataforma=2007
PORTUGUESE
9:30 a.m. (NY) | 10:30 a.m. (Brasilia)
Phone: +55 11 2188 0155
Code: Cielo
Webcast: http://webcast.mz-ir.com/publico.aspx?codplataforma=2006
About Cielo
Cielo is the Brazilian market leader in the payment card industry, responsible for affiliating merchants and managing the network for acceptance of payment cards, as well as for the capture, transmission, processing and settlement of transactions carried out with credit and debit cards. Besides the products and services traditionally offered in the market for electronic methods of payment, the Company has a track record of offering innovative solutions in segments that feature synergies with its activities, being a pioneer in offering a correspondent banking infrastructure network, pre-paid cellular phone airtime purchases, electronic vouchers and Cash Back, as well as in the capture and processing of electronic transactions that do not involve payments, such as connectivity and authorization for health-care transactions.
SOURCE Cielo S.A.
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