Sonda (SONDA) Q3 2024 earnings summary

Executive summary

• Revenues for the first nine months of 2024 reached US$1,200 million, up 22.7% year-over-year, driven by strong performance in Brazil, Mexico, and the Southern Cone, with entry into electromobility contracts in Mexico.

• EBITDA for 9M24 was US$104 million, up 17.7% year-over-year, with an EBITDA margin of 8.6%.

• Operating income rose 16.3% to US$60 million, with margin improving to 5%.

• Net income attributable to owners was US$17 million, down US$8.2 million year-over-year, mainly due to a non-recurring gain in 2023 and higher financial expenses.

• Major deals included contracts with Caixa Econômica Federal, Petrobras, Metrobus, and new projects in mining, retail, and banking.

Financial highlights

• Consolidated revenues reached US$1,200 million, up 22.7% year-over-year for 9M24.

• Gross profit totaled US$168 million, up 9.2% year-over-year; operating income was US$60 million, up 16.3%.

• EBITDA for 9M24 was US$104 million, up 17.7% year-over-year; net income was US$17 million, US$8.2 million below 9M23.

• 3Q24 consolidated revenues were US$390 million, up 11.9% year-over-year; 3Q24 EBITDA was US$35 million, up 9.4%.

• Cash and cash equivalents at period end were $127,313 million, up 29.6% from the prior year.

Outlook and guidance

• Strategic plan for 2025–2027 in development, focusing on innovation, verticalization, and regional expansion.

• Pipeline for the next 12 months stands at US$6,197 million, with Brazil representing 45% of opportunities and the Southern Cone at US$2,015.7 million.

• Ratings agencies Fitch and ICR reaffirmed AA-/Stable ratings, and a new 10-year bond line was registered for up to UF 3,000,000.