Santa Catarina multinational increased Revenue by 119% in the last five years. Quarterly Net Revenue was also 16.7% higher than in the second quarter of 2023
Senior Systems Disclosure
Senior Sistemas, a multinational management software company, enthusiastically presents its results for the first half of 2024, which reaffirm its successful growth trajectory. The company also celebrates a significant milestone in its history: R$1 billion in revenue, considering the last 12 months.
“Becoming a R$1 billion company was a goal sought by the Senior team. To achieve this, we combined 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 strict financial management focused on operational efficiency, and, most importantly, had a committed team that is committed to the Company’s values and goals. And today, we are proud to announce to the market that we have reached this new level: Senior is a R$1 billion company! ”, says Carlênio Castelo Branco, CEO of Senior.
Sustainable growth
Carlênio Castelo Branco | Senior Systems Disclosure
In the last five years, the company recorded an increase of 119% in its Net Revenue, going from R$$ 382 million in 2019 to R$$ 835 million in 2023. In the period, Net Profit grew 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, an increase of 20.8% compared to the same period of the previous 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 of the quarter.
The company also raised 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 growth avenues: Management, Financial and Platform. “To expand our inorganic growth in line with the thesis of strengthening our operations in strategic segments, this semester we carried out three M&As that strengthen the Management pillar and position us as the leading technology provider in important economic segments”, highlights Carlênio Castelo Branco.
The most recent acquisition was that of Hypnobox, in the Construction and Development segment, which offers a new sales management experience for customers in the segment with specialized CRM. In agribusiness, the arrival of GAtec, a specialist in software for agro-industrial management, further diversifies Senior's range of solutions in the sector, both inside and outside the farm. In the Human Resources vertical, the company also announced this year the purchase of HRTech JobConvo, a specialist in software for Recruitment & Selection management, to reinforce the offer of Talent Acquisition solutions on the HCM platform.
Another highlight is the strong growth of Fintech Wiipo. There are already approximately 2.8 million employees connected to the app. Wiipo recorded growth of 88% in the granting of payroll loans and an expansion of 80% in revenue compared to the previous semester.
“And in the Platform pillar, we are driving the business and the results of the first half of the year demonstrate its good performance”. Net Revenue grew 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 in the period.
Outlook for the second half of the year
According to Senior’s CEO, the company is integrating the businesses from recent acquisitions, maximizing synergies and strengthening its brand in the market. In addition, he believes that “being a R$1 billion company positions us at a new level in the management technology sector and opens up space for us to conquer even more business opportunities. We are moving into the next semester motivated by the future and committed to maintaining Senior’s continued growth”, concludes Carlênio Castelo Branco.
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