Rômulo de Mello Dias, the CEO of Cielo S A (OTCMKTS:CIOXY), said that net operating revenue in 2Q2016 surged 10% to R$3.1 billion over the previous year quarter. EBITDA came at R$1.3 billion, almost unchanged from the same period a year earlier. Consolidated net income increased 13.8% to R$989 million with a margin of 32%.
Regarding Cielo Brazil, the financial volume came at R$143 billion, a jump of 9.9% over the same quarter of 2015. Purchase of receivables operations jumped 21% to R$339 million in 2Q2016, which accounts for 20.4% of the total credit financial volume. Net revenue grew 6.6% to R$609 million in 2Q2016 while EBITDA margin declined 3.3% to 42.7%.
Coming to other major achievements, Cielo is ranked first in the service segment of the largest and the best firms ranking of the Exame Magazine. The company received the recognition for tenth consecutive year. It also comes in the ten best Brazilian firms as per Corporate Governance Index, and it is termed as one of the best firms to start a career by Você S.A.
Cielo is a firm with the best satisfaction level in the POS terminal ‘Escolha’ PME SME Selection award category. With respect to understanding of the progress of the debit and credit card financial volume for the market, the company has revised growth guidance to a higher range of 7% to 9% from a previous projection range of 5.5% to 7.5% with Cielo expanding in line with the industry.
Talking on the cost of sale of Cateno and Cielo Brazil jointly, after removing the impact of subsidiaries through equity stake, growth in the first half of this year came 7.7%, provided the stronger financial volume was also changed. Cielo also revised evaluation estimate range to 6% to 8% from previous range of 4% to 6%.
Iddriven Inc (OTCMKTS:IDDR) Sets Eyes On Europe For Growth
Iddriven recently issued a letter to shareholders reiterating its growth prospects especially in Europe where it is aggressively exploring new opportunities. The enterprise software company has already inked deals with Zeva and PATECCO as it looks to expand its wings in the region.
The cyber security market being one of the fastest growing markets in the world present the company with unique growth opportunities. Iddriven recently released its IAM software solution that it is using to target customers with as it continues to flex its muscle in the multibillion-cyber security industry.
Iddriven Inc (OTCMKTS:IDDR) says its IAM solution is designed to limit access to sensitive data in an organization set up while also ensuring data is not sent to the wrong people. With the likes of Zeva PATECCO and Oxford Consulting group on board, the company is now looking to market the IAM solution as a must-have for organizations looking to stay a step ahead of potential cyber-attacks.