Senior Sistemas, a multinational management software company, proudly presents the results of the first half of 2024, reaffirming its successful growth trajectory. The company also celebrates a significant milestone in its history: R$ 1 billion in revenue, considering the last 12 months.
Being a R$ 1 billion company was an objective aspired to by the Senior team. To achieve this, we combine our planning and execution capabilities with successful strategies, investing in innovation and new technologies to support our clients in their digital transformation. We expanded our portfolio of solutions and market reach through M&A, focused on strategic segments with high growth potential, maintained a rigorous financial management focused on operational efficiency, and, most importantly, rely on a committed and engaged team aligned with the company's values and objectives. And today, we are proud to announce to the market that we have reached this new level:Senior is a R$ 1 billion company!", affirms Carlênio Castelo Branco, CEO of Senior."
Sustainable growth
In the last five years, the company has recorded a 119% increase in its Net Revenue, rising from R$ 382 million in 2019 to R$ 835 million in 2023. During the period, Net Profit increased by 175% and Cash Generation by 139%, results that confirm the company's relevance and solidity in the technology market.
The company also celebrates a good performance in the second quarter of 2024. Net Revenue grew by 16.7%, totaling R$ 236.4 million. Recurring Revenue reached R$ 210.6 million, a 20.8% increase compared to the same period last year. This growth was mainly driven by Cloud Revenue, which increased by R$ 31.4 million or 36.1% compared to the second quarter of 2023, representing 56.1% of the Gross Recurring Revenue for the quarter.
The company also improved profitability indicators with a 27.5% increase in EBITDA, totaling R$ 69.9 million, with an EBITDA Margin of 29.5%. Net profit was R$ 51.6 million, with a net margin of 21.8%.
Highlighted growth avenues
To continue growing consistently, the company invests in three avenues of growth: Management, Financial, and Platform. "To expand our inorganic growth aligned with the thesis of strengthening our presence in strategic segments, this semester we carried out three M&As that enhance the Management pillar and position us as the leading technology provider in important economic segments," highlights Carlênio Castelo Branco.
The most recent acquisition was of Hypnobox, in the Construction and Development segment, which offers a new sales management experience for clients in the segment with specialized CRM. In agribusiness, the arrival of GAtec, a specialist in software for agroindustrial management, further diversifies Senior's range of solutions in the sector, both inside and outside the farm gate. In the Human Resources vertical, the company also announced this year the acquisition of HRTech JobConvo, specialized in software for Recruitment & Selection management, to strengthen the Talent Acquisition solutions offered on the HCM platform.
Another highlight is the rapid growth of the Fintech Wiipo. There are approximately 2.8 million employees connected to the app. Wiipo recorded an 88% growth in the granting of payroll loans and an 80% increase in revenue compared to the previous semester.
And on the Platform pillar, we are driving the business, and the results from the first half of the year demonstrate its good performance. Net Revenue grew by 26.2% compared to the same period of the previous year, and EBITDA increased by 113%. Platform products, including Sign, GED, BPM, Bot, Connect, and Social, showed significant growth in the number of users and transactions during the period.
Outlook for the second half of the year
According to the CEO of Senior, the company is integrating the businesses of recent acquisitions, maximizing synergies, and strengthening its brand in the market. Furthermore, he believes that "being a R$ 1 billion company positions us at a new level in the technology management sector and opens up space for us to seize even more business opportunities. We move into the next semester motivated by the future and committed to maintaining Senior's continuous growth," concludes Carlênio Castelo Branco.
