Q2 2024 Locaweb Servicos de Internet SA Earnings Call Transcript
Key Points
- Ecosystem GMV accelerated growth, reaching nearly BRL17 million, up 22.5% year-over-year.
- Subscriber base grew to nearly 190 million, an increase of 8%.
- Gross margin improved to 47.6%, up 1.5 percentage points.
- EBITDA margin increased by 22% year-over-year, reaching BRL65.4 million.
- Net profit increased to BRL18.3 million, a 5.5% rise.
- Squid restructuring has diluted overall revenue growth.
- BeOnline business saw a seasonal decrease in EBITDA margin, down to 24.4%.
- TPV growth showed a significant slowdown, raising concerns about sustainability.
- Financial services and digital account integration are expected to show more significant results only in 2025.
- CapEx demand is expected to stabilize but remains a concern for future investments.
Good morning, ladies and gentlemen. Welcome to LWSA's Q2 2024 earnings conference. Joining us today are CEO, Fernando Cirne; and Finance and Investor Relations VP, Rafael Chamas. For the Q&A session, we will also be joined by the company's senior management team.
This conference is being streamed online via Zoom webinar with simultaneous interpretation into English and will be available for replay at [email protected]. You can download the slide deck for this presentation at the same websites, results center under the Financial Information tab.
The figures being reported are denominated in Brazilian real and have been calculated in accordance with Brazil's standard accounting practices as per the statements guidelines and interpretations issued by the Brazilian accounting pronouncements committee.
Before moving on, we'd like to mention that the statements contained in this document regarding LWSA's business prospects, operational and financial forecasts as well as future growth estimates are merely projections and as such are based solely on its management's outlook for the
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