In addition to revenue growth, the company recorded positive results in revenues in the foreign market, in profit and EBITDA, among other indicators.
Padtec Holding (B3: PDTC3), the sole shareholder of Padtec S/A, a leading manufacturer of optical transport systems, ended the second quarter of 2023 with net revenue of R$ 96.9 million, which represents growth of 22.4% in relation to the previous quarter. With this, the company’s net revenue reaches the mark of R$ 176.1 million in the first half of 2023 – an increase of 11.7%, compared to the same period last year.
Sales and revenues in the international market, which are part of the company’s international expansion strategy, had an important weight in this result. Padtec’s net revenue from sales abroad increased by 26.5% in the first half, compared to the same period in 2022, reaching the mark of R$ 34.7 million. “This result is the result of the strategy and focus of our international team, present in several countries in Latin America and the United States, as well as the quality and performance of Padtec’s DWDM optical solutions, which already operate and equip networks in several countries around the world. in the world”, emphasizes Carlos Raimar, CEO and Director of Investor Relations at Padtec.
Padtec’s services, software and platforms unit for telecommunications networks also grew in the first half: 53.5%, compared to the same period last year. For Alexandre Piovesan, Director of Platforms and Solutions at Padtec, the result is the result of the company’s commitment to offering telecom services as a resource to guarantee quality and reliability to the networks of operators and internet providers (ISPs). “The proposal is to help and boost the business of companies that operate in the broadband market”, says Piovesan.
In the second quarter of 2023, Padtec’s gross profit reached R$34.9 million, which represents growth of 22.4% compared to the previous quarter. The gross margin was 36%, a percentage higher than those recorded in the four quarters of 2022. The company also recorded an improvement in EBITDA, with earnings before interest, taxes, depreciation and amortization of R$ 12.9 million (and EBITDA margin of 13.3%) – an increase of 146.2% compared to the same quarter last year. In the accumulated result for the first half of the year, the company’s EBTIDA reached R$ 20.6 million (11.7% margin) – more than double the value recorded in the same period last year.
Also in this quarter, Padtec concluded the restructuring of its indebtedness, which resulted in the reduction of its total financial cost, the lengthening of debt payment terms and a significant improvement in short-term liquidity. “With this, we reduced the percentage of short-term debt from 30% of total debt, in December 2022, to 6%, in June of this year”, highlights Ramon Pereira, CFO of Padtec. The company ended the second quarter of the year with a net debt of R$62.4 million, comprising debt of R$95 million, and cash, cash equivalents and financial investments in guarantee of R$32.6 million.
With a focus on new market verticals, Padtec announced, in May, a partnership with the companies UfiSpace, from Taiwan, and IP Infusion, from the United States, aiming to offer a complete switch and router solution throughout Latin America. The agreement is part of the supplier’s strategy to expand its operations and its portfolio of products, services and solutions, following market trends. “By entering this segment, Padtec aims to offer an end-to-end solution for communication networks”, points out Argemiro Sousa, director of Equipment Operations at the company.
At the end of the semester, Padtec joined the Fiber Broadband Association (FBA), an association that brings together operators and companies from several countries that operate in the telecommunications sector – specifically, in the optical fiber segment. For the company, joining the FBA reinforces its commitment to technological innovation through collaborative and research projects conducted by international initiatives. “For us, networking is essential for fostering cooperation that results in technological advances. This is very much in line with our purpose of contributing to the evolution of the infrastructure of next-generation communication networks in Brazil, the Americas and the world”, emphasizes Carlos Raimar.
The full results report is available on the ‘Investor Relations’ page of the Padtec website (www.padtec.com.br/investor/padtec-holding/).