Petz (PETZ3) reported adjusted net profit of R$19.4 million in the fourth quarter of 2023 (4Q23), an amount 22% lower than reported in the same period in 2022, the company said on Thursday (7).
The company explains that the result is “a reflection of lower operating leverage and growth in depreciation and amortization and the comparator for the fourth quarter of 2022, which included the equity interest payment (JCP).”
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$66.8 million in the fourth quarter of 2023, a decrease of 3.5% compared to the fourth quarter of 2022.
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EBITDA margin reached 6.8% between October and December last year, a decrease of 0.6 percentage points compared to the margin recorded in the fourth quarter of 2022.
Total revenues reached R$983.8 million in the fourth quarter of last year, a growth of 5.2% compared to the same point in 2022.
Gross profit was R$382.1 million in the fourth quarter of 2023, an increase of 4.5% compared to the same period in 2022. Gross profit margin was 38.8% in the fourth quarter of 2023, a decrease of 0.3 percentage points compared to the margin of the fourth quarter of 2022.
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As of December 31, 2023, the company's net debt was R$23.2 million, compared to cash of R$72.3 million in the same period in 2022.
The leverage index, measured by net debt/EBITDA, was 0.1 times on December 23, a decrease of 0.4 percentage points compared to the same period in 2022.
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