CINT - CI& T reports Q4 results; initiates Q1 and FY23 outlook

2023-03-08 06:32:51 ET

• CI&T press release ( NYSE: CINT ): Q4 net profit was R$30.1 million compared to R$43.8 million in 4Q21.
• Adjusted EBITDA was R$127.4 million, a 25.1% growth year-over-year, equivalent to an Adjusted EBITDA margin of 20.8%.
• Adjusted Net Profit was R$54.5 million, 4.3% higher than 4Q21 with an Adjusted Net Profit margin of 8.9%.
• Revenue of R$611.81M (+33.9% Y/Y).
• The number of clients with annual revenue above R$1 million in the last twelve months grew from 94 in 4Q21 to 178 in 4Q22.
• Outlook: We expect our net revenue in the first quarter of 2023 to be at least R$590 million compared to a net revenue of R$492 million in the first quarter of 2022, a 20% growth on a reported basis.
• For the full year of 2023, we expect net revenue growth in the range of 13% to 17% year-over-year, assuming a constant currency outlook.

• In addition, we estimate our Adjusted EBITDA margin to be at least 19% for the full year of 2023.

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