Odontoprev 1Q23: revenue and EBITDA reach record levels, up 11% and 22%, respectively.
May 10, 2023 at 05:09 pm EDT
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BRADESCO DENTAL, THE BEST SELLING BRAND ACROSS THE BOARD, ADDING 21 THOUSAND LIVES IN THE QUARTER AND 354 THOUSAND IN 12 MONTHS.
São Paulo, May 10th, 2023
Odontoprev (B3: ODPV3), listed in São Paulo since 2006 and the market leader on dental benefits in Latin America, is pleased to present its 1Q23 results.
Growth
Revenue growth of 4% in 2021, 6% in 2022 and 11% in 1Q23, reaching a record R$524 million;
Average ticket up 4% in the Corporate segment, 7% in SME and 11% in Individual plans;
Efficiency and value creation
Dental care ratio of 34% in 1Q23, lower than 35% in 1Q22, best level ever for a first quarter;
SG&A ratio of 23%, versus 26% in 1Q22;
EBITDA jumps 22%, with margin expansion to 39%, registering a record R$202 million;
Results and Shareholder remuneration
Net income grows 5% to R$170 million, +79% over 4Q22, all time best for a first quarter;
Net cash of R$913 million, without any leverage.
Please join our videoconference tomorrow, Thursday, May 11th, at 09:00 a.m. Eastern time (02:00 p.m. London and 10:00 a.m. Brazil), with simultaneous translation to English.
Click hereto access the video conference.
Click here to access the 1Q23 Earnings Release.
With best regards,
José Roberto Pacheco
CFO & IRO ri@odontoprev.com.br
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OdontoPrev SA published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 21:07:56 UTC.
Odontoprev SA is a Brazil-based company primarily engaged in the provision of dental care services. The Company is involved in the management, sale and provision of private dental care plans and services. It offers services to individual and corporate customers. The Company organizes its dental care services into three main segments: Collective Pre-paid Plans, Collective Post-paid Plans and Individual Pre-paid Plans. Through its indirect subsidiary Easy Software Ltda, the Company is also active in the development of computer software for the dental industry. Odontoprev SA holds shares in various direct subsidiaries, such as Clidec - Clinica Dentaria Especializada Cura Dar's Ltda, Odontoprev Servicos Ltda, Garcia Pedrosa Ltda and Adcon Administradora de Convenios Odontologicos Ltd. Furthermore, It is a subsidiary of Bradesco Saude SA, a unit of Banco Bradesco SA's Bradesco Seguros e Previdencia SA.