Q3 2024 Wiz Co Participacoes e Corretagem de Seguros SA Earnings Call (English, Portuguese) Transcript
Key Points
- Wiz Co Participacoes e Corretagem de Seguros SA (BSP:WIZC3) reported an impressive 17.8% increase in adjusted consolidated EBITDA, reaching 187 million reals.
- The company's consolidated net profit rose by 20.8% compared to the same period last year, totaling 88.5 million reals.
- The insurance segment achieved a record EBITDA of 129.8 million reals, marking a 33.4% increase from the previous year.
- Interseguros reached a milestone with 3.4 million active contracts, reflecting a 115% increase from the previous year.
- The company has been ranked among the largest companies in Brazil, highlighting its strong market position and growth potential.
- The parent company's net income saw a decrease of 2.4% compared to the same period in 2023, impacted by reduced net commission revenue from the runoff of the Red Kasha operation.
- The services segment experienced a 4.3% drop in net commission revenue compared to the previous year.
- There was a partial write-off of the intangible asset in the subsidiary Polish Shop Seguros, impacting the financial results.
- The financial result showed a negative balance of 14 million reals, although it improved compared to the previous year.
- The company faces challenges in the Brazilian macroeconomic environment, including rising interest rates, which could impact future performance.
Good morning, everyone. Welcome to Wiz cos earnings call on the results for the third quarter of 2024. Simultaneous translation is available by clicking on the globe icon labeled interpretation located at the bottom bar of the screen. When you select it, choose your preferred language, Portuguese or English, English listeners can mute the original audio in Portuguese.
Simply click on mute, original audio. After the presentation of these results, we will start the Q&A session. You can send your question using the Q&A icon of the platform which will then be answered by the WSO representatives present. If your question is not answered during this video conference, the investor relations team will contact you later to answer your questions before proceeding.
We would like to clarify that any statements that may be made during this conference call regarding wis business prospects, projections, operating and financial targets constitute beliefs and assumptions of the company's management as well as information currently available to wis forward-looking statements are not guarantees of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
