Dasa, IMC, Brisanet Q1 Earnings Reveal Mixed Outcomes

In Q1 2024, Dasa (DASA3) reported a net loss of R$ 176 million ($34.17 million), marking a deterioration of R$ 8 million ($1.55 million) from Q1 2023.

The company’s EBITDA stood at R$ 639 million ($124.07 million), reflecting a 4% increase from Q1 2023. However, the EBITDA margin dropped slightly by 0.3 percentage points, settling at 17.1%.

Dasa’s net revenue increased by 5%, reaching R$ 3.7 billion ($718.45 million) in Q1 2024.

The company’s financial result showed a net expense of R$ 485 million ($94.17 million), which was 9% lower than Q1 2023.

This reduction resulted from a lower average debt cost and a decrease in interest rates.

Dasa’s net debt totaled R$ 9.6 billion ($1.87 billion) after extending debt maturity and reducing costs.

The company’s cash position was R$ 2.1 billion ($408.74 million), surpassing the R$ 1.5 billion ($292 million) in debts due in 2024.

Adjusted general and administrative expenses reached R$ 521 million ($101.17 million) in Q1 2024, a 4% increase from Q1 2023.

This rise resulted mainly from inflation, mitigated by process revisions, activity prioritizations, and contract renegotiations.

IMC Halves Q1 Loss to R$ 27.9 Million

IMC (MEAL3) reduced its net loss by 51.3% in Q1 2024, reporting a loss of R$ 27.9 million ($5.42 million).

This improvement is from R$ 57.3 million ($11.12 million) in Q1 2023. Adjusted EBITDA fell by 7.1%, reaching R$ 37.9 million ($7.36 million).

The adjusted EBITDA margin decreased by 0.77 percentage points to 7.5%.

IMC’s net revenue increased by 2.5%, totaling R$ 506.7 million ($98.40 million) in Q1 2024.

The company’s gross profit reached R$ 144.9 million ($28.14 million), reflecting a 2.5% increase.

IMC closed Q1 with 569 stores in Brazil and the USA, expanding by 40 units over the past year.

IMC’s general and administrative expenses and other operational results decreased by 15.7% to R$ 22.8 million ($4.43 million).

The company’s net financial result was negative at R$ 23.6 million ($4.58 million), a 36.7% reduction from Q1 2023.

Net debt stood at R$ 326.3 million ($63.37 million) as of March 31, 2024.

Brisanet Reports R$ 20.1 Million Profit in Q1 2024

Brisanet (BRIT3) reported a net profit of R$ 20.1 million ($3.90 million) in Q1 2024, a 20.1% decline from Q1 2023.

The company’s EBITDA increased by 1.4%, reaching R$ 141.3 million ($27.45 million).

However, the adjusted EBITDA margin contracted from 47.7% in Q1 2023 to 42.2% in Q1 2024.

Brisanet attributed the profit decline to expenses from expanding its 4G/5G mobile operations.

The company’s consolidated net revenue grew by 14.4%, totaling R$ 334.4 million ($64.96 million).

This growth was driven by subscriber base increases and a 27% rise in B2B revenues.

Brisanet continues to expand its fiber optic and 4G/5G services, covering nearly 6 million people.

The company’s infrastructure includes over 40,000 km of backbone, focusing on organic growth and regional development.

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