In the first quarter of 2024, Unifique (FIQE3) reported a profit of R$ 37.5 million, marking a significant annual increase of 42.7%.
Revenue also performed positively, reaching R$ 249.2 million in the same period, representing a 21.6% increase.
The company attributes the revenue growth to the expansion of its network, organic growth of its customer base, and acquisitions made in the last 12 months.
Earnings before interest, taxes, depreciation, and amortization (Ebitda) reached R$ 123.3 million in the first quarter, reflecting an annual growth of 21.7%. Additionally, the Ebitda margin slightly increased from 49.43% to 49.47%.
Operating expenses in the quarter increased by 59% compared to the previous year, totaling R$ 64 million.By the end of March, the company’s net debt was R$ 335.3 million, showing a 5.4% decrease compared to the previous quarter.
Unifique and BrisanetOn the other hand, Brisanet (BRIT3) reported a profit of R$ 20.1 million in 1Q24, marking a 20.5% decrease compared to the same period of the previous year.
The company attributes this decrease to costs and expenses associated with the start of mobile operations (4G and 5G), where part of the costs is fixed and will be diluted with the gradual increase in the customer base.Total costs for services provided increased by 24.7% compared to the first quarter of 2023, totaling R$ 191.5 million.
Meanwhile, net revenue rose by 14.5%, reaching R$ 334.4 million in the same period.Ebitda reached R$ 141.3 million, representing an annual increase of 1.4%. However, the Ebitda margin dropped from 48% to 42%.
Operating expenses totaled R$ 95.6 million between January and March, registering a 24.9% increase compared to the previous year. Net debt increased by 9.4%, reaching R$ 833.6 million, resulting in a leverage measured by the net debt to Ebitda ratio of 1.43 times.
Brisanet added 9.1 thousand net customers, expanding its base to 1.3 million fixed broadband customers. In the mobile segment, 23 thousand customers were added, totaling 78.1 thousand customers by the end of April 2024.Additionally, 26 thousand homes passed (hp) and 32.2 thousand customers were added in the first quarter.
