CVC Brasil Operadora e Agencia de Viagens SA (BSP:CVCB3)

Q3 2024 CVC Brasil Operadora e Agencia de Viagens SA Earnings Call Transcript

Nov 13, 2024 / 01:00 PM GMT

Release Date Price: R$2.17 (+2.36%)

Transcript

Key Points

Positve

CVC Brasil Operadora e Agencia de Viagens SA (BSP:CVCB3) opened 90 new stores in Q3 2024, setting a historic record for new store openings in Brazil and Argentina.
The company reported a significant improvement in profitability, with a nominal EBITDA margin 11 times higher year-over-year compared to Q3 2023.
CVC Brasil Operadora e Agencia de Viagens SA achieved a net income for the first time in 20 quarters, marking a BRL340 million improvement in the bottom line for the first nine months of 2024.
Operating cash generation reached BRL118 million in Q3 2024, returning to the same level as Q3 2019, indicating strong financial health.
The company's leverage has been significantly reduced to 1.2 times net debt over the last 12 months' EBITDA, down from 5.7 times when the current management took over.

Negative

Despite improvements, CVC Brasil Operadora e Agencia de Viagens SA still faces challenges in Argentina, with a 22% drop in confirmed bookings in Q3 2024.
The company's net revenue in Argentina decreased by 22% in Q3 2024 compared to the same period in 2023.
There was a slight drop in net revenue intake rate in Brazil, partially due to extraordinary events in Q3 2023.
The company experienced a 70% drop in EBITDA in Argentina quarter-on-quarter, reflecting ongoing economic challenges in the region.
General and administrative expenses in Brazil increased by 3.6% in Q3 2024, although the company aims to keep these expenses in line with inflation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CVCB3.SA - CVC Brasil Operadora e Agencia de Viagens SA
Q3 2024 CVC Brasil Operadora e Agencia de Viagens SA Earnings Call
Nov 13, 2024 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone. And thank you for waiting. Welcome to this video conference to present CV C Corp's third quarter, 2024 results. Today, we have simultaneous translation into English available to access. Just click on the globe icon at the lower bar of your screen. Look for interpretation and choose your preferred language, Portuguese or English.

If you choose to listen to the video conference in English, there is an option to mute original audio in Portuguese, just click on mute original audio. We'd like to inform you this video conference is being recorded and it will be available at the company's IR website, www CVC Corp dotcom dot BR dash AR where you can find

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