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2Q19 Results
Recent Events
Valid from-to: Aug/19 – Aug/20
Rational: New suitesCustomer portfolioGross revenues: R$ 18.2 MMEV: R$ 32.0 MM (+earnout up to R$ 6.0MM)
Acquisition of Softpar
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GPTW Certification
Record net revenues and recurring revenues
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Net Revenues(R$ MM)
Recurring Revenues(R$ MM | %NR)
2Q19: Record, with organic addition of R$ 1.5MM and inorganic of R$ 6.5 MM
2T19: Record recurring revenues and % of recurrence in line with the record of 1Q19
34.1 42.2
136.8156.1
2T18 2T19 LTM-2T18
LTM-2T19
+ 23.6%
+ 14.1%
28.1 35.3
105.2128.3
82.3% 83.8% 76.9% 82.2%
2T18 2T19 LTM-2T18
LTM-2T19
+ 25.9%
+ 21.9%
2Q18 2Q19 LTM-2Q18
LTM-2Q19
2Q18 2Q19 LTM-2Q18
LTM-2Q19
Impact of extraordinary expenditures and backlog implementation
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Gross profit(R$ MM | Gross Mg.%)
Adjusted EBITDA(R$ MM | EBITDA Mg.%)
Expenses1
(R$ MM | %NR)
¹General and administrative (without depreciation, amortization and other expenses).
2Q19: Slight drop due to higher development and implementation costs and extraordinary items (R$ 1.5 MM)
2Q19: Increase with consolidation of expenses of acquired companies and extraordinary items (R$ 0.3 MM)
2Q19: Growth impacted by higher development and implementation costs
12.7 12.4
53.9 52.6
37.3%29.4%
39.4%33.7%
2T18 2T19 LTM-2T18
LTM-2T19
-2.7%
-2.4%
7.7 9.0
32.840.1
22.7% 21.5% 23.9% 25.7%
2T18 2T19 LTM-2T18
LTM-2T19
+ 16.9%
+ 22.5%
5.0 5.1
21.2 18.4
14.6% 12.1% 15.5% 11.8%
2T18 2T19 LTM-2T18
LTM-2T19
+2.1%
- 13.1%
2Q18 2Q19 LTM-2Q18
LTM-2Q19
2Q18 2Q19 LTM-2Q18
LTM-2Q19
2Q18 2Q19 LTM-2Q18
LTM-2Q19
Addition of R$ 55.5 MM (+67.9% vs. 2Q18), of which R$ 13.9 MM organic (+17.0% vs. 2Q18) and R$ 41.6 MM inorganic (R$ 4,4 MM ConsultBrasil, R$ 9.9 MM Atena, R$ 8.2 MM ADSPrev and R$ 19.1 MM Softpar), proving that we have entered a new route of revenue growth
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81.8 85.0 88.1 90.9 95.7
4.4 22.641.6
81.8 85.0
92.5113.5
137.3
2Q18 3Q18 4Q18 1Q19 2Q19
Organic Inorganic
+67.9%
Software UnitPortfolio of recurring contracts (R$ MM)
Software UnitRecord revenues and compressed margins due to implementations
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Software Net Revenues(R$ MM)
Software Gross Profit(R$ MM | Gross Mg.%)
2Q19: Record, with inorganic addition of R$ 6.5 MM 2Q19: Costs with development and implementation of the backlog
21.929.2
90.4100.4
2T18 2T19 LTM-2T18
LTM-2T19
+ 33.5%
+ 11.0%
10.0 10.0
43.8 39.9
45.7%34.3%
48.5%39.7%
2T18 2T19 LTM-2T18
LTM-2T19
- 9.0%
2Q18 2Q19 LTM-2Q18
LTM-2Q19
2Q18 2Q19 LTM-2Q18
LTM-2Q19
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Software UnitCosts impacted by development and implementation of the backlog
Costs (R$ MM)
5.2
29.6
2019 Acquisitions Organic
R$ 6.1 MM costs in the quarter to convert sales into revenues
(7.5 % of Net Revenues)
Development CustomizationImplement. Maintenance Support
3.6
2.5
5.5
2.0
16.1
Services UnitHighest volume of revenues in a 2nd quarter
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Services Net revenues(R$ MM)
Services Gross profit(R$ MM | Gross Mg. %)
2Q19: Highest value in a 2nd quarter, with R$ 0.9 MM growth in Outsourcing
2Q19: Slight reduction mainly due to higher costs in the Outsourcing unit
12.2 12.9
46.455.7
2T18 2T19 LTM-2T18
LTM-2T19
+ 5.7%
+ 20.0%
2.7 2.4
10.012.7
22.2% 18.2% 21.6% 22.8%
2T18 2T19 LTM-2T18
LTM-2T19
- 13.2%
+ 26.7%
2Q18 2Q19 LTM-2Q18
LTM-2Q19
2Q18 2Q19 LTM-2Q18
LTM-2Q19
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Gross Cash(R$ MM)
Net Debt(R$ MM)
Gross Debt(R$ MM)
1T19 2T19 1T19 2T19 1T19 2T19
Financial positionIncrease of net debt, with debentures and Softpar acquisition
Acquisition Financial
Movement mainly related to the raising of debentures, sale of treasury shares and acquisition of Softpar
Increase of R$ 16.5 MM due to the purchase of Softpar and R$ 18.0 MM due to the settlement of the remaining portion of the debentures.
Temporary increase, due to the recent acquisition of Softpar, which should reduce in the coming quarters.
24.6
25.3
+ 0.7
47.3 64.3
22.6
39.6
103,9
69,9
+ 34.0
45.3
78.6
+ 33.34,3x EBITDA ajust.LTM
2,5x EBITDA ajust. LTM
2Q18 2Q19 2Q18 2Q19 2Q18 2Q19
Final MessageSinqia is ready to execute the consolidation strategy even faster!
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4.7
46.2
181.7
Pre-PE (2004) Pre-IPO (2012) Today
1st CicleGrowth of
10x
2st CicleGrowth of
4x 3rd Cicle
*
Sinqia’s LTM net revenues (-) consolidated revenue from last 4 acquisitions in the period (+) LTM net revenues from last 4 acquisitions at due diligence base date: ConsultBrasil (May/18), Atena (Oct/18), ADSPrev (Sep/18) and Softpar (Dec/18)
Net Revenues(R$ MM)
This material was prepared by Sinqia S.A. (“Sinqia”) (B3: SQIA3) and may contain certainstatements expressing management's expectations, beliefs and/or forecasts regardingfuture events or results. These statements involve risks and uncertainties that couldcause results materially different from those projections. Such statements are based oninformation currently available, from Sinqia and the industry in which Sinqia operates, andis not intended to be complete or serve as advice to potential investors, so readers shouldnot rely exclusively on the contained. Investment in securities issued by Sinqia involvescertain risks. Before making any investment decision, prospective investors shouldcarefully consider all the information contained in the Reference Form, in the financialstatements with the notes and, if applicable, in the offer memorandum, among others.Business, financial condition, results of operations, cash flow, liquidity or future businesscould be materially adversely affected by risk factors currently known or unknown. Thispresentation does not constitute an offer to sell or a solicitation to buy any securities ofSinqia.
Disclaimer
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