“We have now reached a brand new degree”, says CEO of Positivo Tecnologia after document income
In an interview with EXAME, Helio Rotenberg comments on the results of Positivo, which increased its revenue guidance after the second quarter of 2022 results
The company Positive Technology is at its best. The company had revenue of BRL 1.9 billion in the second quarter of 2022, an increase of more than 100% compared to the result of the same quarter of the previous year. Recurring EBITDA for the second quarter reached R$185 million, up 82% from the same period in the previous year, and net income reached R$90 million, up 76%. “We are experiencing a moment in which our diversification plan, outlined in 2018, proves to be the right one”, said the president of Positivo Tecnologia, Helio Rotenberg, in an interview with EXAM.
Before focused mainly on the final consumer, Positivo started a few years ago a movement to expand its sales to institutions, whether public bodies or private companies. One of the main recent contracts on this front is the manufacture of electronic voting machines that will be used in elections. The 225,000 ballot boxes for the 2022 elections were delivered in July. In December 2021, Positivo won another bid, worth R$ 1.2 billion, to supply 176,000 ballot boxes for the 2024 election. The manufacture of the equipment follows the specifications required by the Superior Electoral Court.
Rotenberg reinforces, however, that Positivo Tecnologia’s revenue is not just made from ballot boxes. The company delivered products to almost 300 public institutions in the first half of 2022 alone, from Banco do Brasil to small municipalities.
To increasingly expand this niche of activity, Positivo set up a kind of bidding headquarters. On this front alone, the company has more than R$ 2 billion already contracted for delivery this year. And another 8.5 billion in the addressable bidding pipeline. “We participate in practically all the public notices that appear and develop custom products for each public notice. This makes us more competitive”, says the businessman.
The institutional segment accounted for 59% of Positivo’s revenue in the quarter, with around half of this amount coming from contracts with public bodies. Final consumer products accounted for 20%, and special projects, including electronic voting machines, 21%.
From machines to smartphones
Positivo has also been diversifying into products. The payment solutions category, with acquiring machines, grew 259 times in the quarter compared to the same period last year. The company has also invested in smartphones, smart home products and electronic locks, in addition to computers.
With this positive tide, Positivo increased its revenue guidance for 2022 – it was between BRL 5 billion and BRL 6 billion, and now it has gone to the range between BRL 5.5 billion and BRL 6.5 billion. “We have reached a new level and we will grow from this new level”, he says.