2023-08-26 10:16:00
After experiencing losses in the first half of 2022, PicPay – fintech controlled by the J&F group – announced last Thursday (24) the closure of its first half of 2023 with profit of BRL 58 million. In the same period last year, the negative result was R$ 655.75 million.
The number reached in the current period does not consider expenses with acquisitions and the integration of Liga Invest (now PicPay Invest) and Banco Original’s individual customers. Considering these factors, the profit margin is more modestremaining around R$ 3 million.
According to data published by the institution, net revenue grew 21% year-on-year, reaching the mark of R$ 1.5 billion. And the adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 123 million – compared to a loss of R$ 403 million previously recorded.
According to PicPay, the published result still does not incorporate the reality of customers, deposits, investments and revenues migrated from Banco Original’s retail operation (which should be incorporated in the coming quarters).
In a statement, Eduardo Chedid, CEO of PicPay, highlighted important movements to maintain the good pace. Among them, in addition to the incorporation of Original, the acquisition of BX Blue, fintech for payroll loans.
“This helped us accelerate our ability to expand the ecosystem, with more investment, credit, cards and insurance products, in addition to other differentials, without losing focus on profitability. This balance led us to the third consecutive positive result and gives us confidence to move on to the next step, which is to offer a personalized value proposition for each type of customer”, said the CEO.
With 2 million customers with gross income above R$ 15 thousand or at least R$ 40 thousand invested, fintech plans a portfolio of products and services targeted at high incomes.
The company plans to launch this semester of new versions of the “Black” and “Platinum” card with a points program, in addition to new investment products, such as funds and customer service via a manager.
“We are moving away from a ‘one-size fits all’ approach to personalized and tailored communication for each customer segment,” said André Cazotto, director of IR, strategy and M&A at PicPay, in a statement.
PicPay ended the semester with 34 million active customers. These ended June with 10 billion reais in deposits – an increase of 22% compared to the same period last year. Transaction volume (TPV) in the first half amounted to 116 billion reais, a growth of 32% over the same period in 2022.
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