Business
Stone closed the last quarter of 2023 with adjusted net profit of R$564 million, an increase of 177% compared to 4Q22
20% Growth in the MSMB total payment volume (TPV), double the industry average, according to ABECS Adjusted EBT of R$638 million, a 131.6% increase compared
About this update from Stoneco Ltd.
[{"type":"text","content":"20% Growth in the MSMB total payment volume (TPV), double the industry average, according to ABECS Adjusted EBT of R$638 million, a 131.6% increase compared to 4T22 The MSMB customer base grew by 37.4% year-over-year, reaching nearly 3.5 million active customersSÃO PAULO, March 18, 2024 /PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) reported growth year-over-year of 20.1% in total revenue, reaching R$3.2 billions in 4Q23, with adjusted EBT of R$638 millions, 17.2% higher than 4Q22, with adjusted EBT margin increasing 2,3 p.p sequentially, to 19.6%. The result is mainly attributed to the growth of consolidated revenue, with lower financial expenses\n\nThe financial services revenue reached R$ R$ 2.87 billion in 4Q23, 24.4% higher year over year. The growth was driven by MSMB (micro, small, and medium-sized businesses) clients, whose TPV increased by 20.2% year over year (or 25%, considering the processed volume of PIX P2M). The segment also showed a 22 bps increase in take rate year over year.\nIn 4Q23, the deposits in the banking platform reached R$6.1 billion, up 52.1% compared to 4Q22. The company continues to advance on its credit solution, with a portfolio of R$309 millions, highlighting the effectiveness of risk management practices.\nThe company has disclosed a new metric to assess the volume of payments within the customer base already using integrated solutions in the priority softwares verticals - Retail, Gas Station, Food and Pharmacies -, with a 19% increase compared to 3Q23, nearly twice the quarterly evolution of MSMB's TPV. Adjusted Software EBITDA reached R$58.7 million in 4Q23, with a margin of 16.2%, compared to R$59.6 million and a margin of 15.8% in 4Q22. The reduction was mainly due to restructuring costs incurred in this vertical, which are expected to yield benefits in 2024.\n\"Last year brought strategic achievements and advancements in line with our goals to 2027. Our strategy is clear: integrate software business across four main sectors, build a huge technological platform, harness the potential of payment matching, banking, credit and software\", says Pedro Zinner, CEO of Stone. \nThe company's profitability also translated into cash generation, and the year ended with an adjusted net cash position of over R$5 billion, even after significant investments in the credit portfolio and share buybac...