Wiz releases its fourth quarter of 2019 results this Thursday (20/02)
Wiz releases its fourth quarter of 2019 results this Thursday (20/02) |
[20-February-2020] |
SÃO PAULO, Feb. 20, 2020 /PRNewswire/ -- In this earnings release, we recorded a total gross revenue of R$205.3 million, an increase of 18.6% on a year over year basis. In the full year of 2019, we reached R$763.7 million in gross revenue, compared to R$655.8 million registered in 2018, a 16.5% increase. The Company's net accounting profit reached R$223.7 million in 2019, presenting a 21.3% growth over 2018. This performance demonstrates the successful implementation of Wiz's diversification strategy and management model, focused on operational efficiency and delivery of financial results. In line with our diversification strategy, we highlight three of the most important initiatives carried out during the year: i) the acquisition of a 40% stake in Inter Seguros, Banco Inter's Insurance Holding, (ii) establishing an Operational Agreement with the investment company Galápagos Capital, aiming at structuring a real estate backed credit distribution, sales and after-sales operation in the "Home Equity" modality – a product we named Wimo; (iii) Inception of Wiz Conseg, via the acquisition of a 76% share in Barigui Corretora, consolidating the first strategic deal carried out by the operation. The result was announced today (20) after the market closed and tomorrow (21) there will be a conference call (English and Portuguese) for analysts and investors. The complete data is available on the Company's IR website. About us We are Wiz, a manager of financial products and insurances distribution channels, that operates all over the country. After being in the market for over 45 years, we have identified opportunities and implemented solutions to enhance our clients' results in several distribution channels. Investing in people, technology and methods, we've developed a business model focused in operational efficiency, maximizing the value of the Business Units we operate. View original content:http://www.prnewswire.com/news-releases/wiz-releases-its-fourth-quarter-of-2019-results-this-thursday-2002-301008960.html SOURCE Wiz | ||
Company Codes: SaoPaulo:WIZS3 |
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