Positivo Tecnologia S.A.
Individual and consolidated interim financial information for the quarter ended September 30, 2022 and Report on the Review of Quarterly Information
KPMG Auditores Independentes Ltda. The Five East Batel
Rua Nunes Machado, nº 68 - Batel
Caixa Postal 13533 - CEP: 80250-000 - Curitiba/PR - Brasil Telefone +55 (41) 3304-2500
kpmg.com.br
Independent Auditor's report on review of Interim Financial Information
To the Board of Directors and Shareholders of
Positivo Tecnologia S.A.
Curitiba, PR
Introduction
We have reviewed the accompanying individual and consolidated interim financial information of Positivo Tecnologia S.A. ("the Company"), included in the Quarterly Information Form - ITR, for the quarter ended September 30, 2022, which comprises the statement of financial position at September 30, 2022 and the respective statements of income and other comprehensive income for the three and nine-month period than ended, and changes in equity and cash flows for the nine-month period than ended, including explanatory notes.
The Company's management is responsible for the preparation of the individual interim financial information in accordance with the Technical Pronouncement CPC 21(R1) - Demonstração Intermediária and the preparation of the consolidated interim financial information in accordance with the Technical Pronouncement CPC 21(R1) and the International Accounting Standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the presentation of this information in accordance with the standards issued by the Comissão de Valores Mobiliários - CVM, applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.
Scope of review
We conducted our review in accordance with Brazilian and International standards on review engagements of interim financial information (NBC TR 2410 - Revisão de Informações Intermediárias Executada pelo Auditor da Entidade and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada.
KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.
Conclusion on individual interim financial information
Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual interim financial information included in the Quarterly Information Form - ITR referred above has not been prepared, in all material respects, in accordance with CPC 21(R1), applicable to the preparation of the Quarterly Information Form - ITR, and presented in accordance with the standards issued by the Comissão de Valores Mobiliários - CVM.
Conclusion on consolidated interim financial information
Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information included in the Quarterly Information Form - ITR referred above has not been prepared, in all material respects, in accordance with CPC 21(R1) and IAS 34, issued by IASB, applicable to the preparation of the Quarterly Information Form - ITR, and presented in accordance with the standards issued by the Comissão de Valores Mobiliários - CVM.
Other matters - Statements of Value Added
The interim financial information above mentioned includes the Statements of Value Added, individual and consolidated, for the nine-month period ended September 30, 2022, prepared under the responsibility of the Company's management, and presented as supplementary information for the purposes of IAS 34. These statements were submitted to review procedures together with the review of Quarterly Information, with the objective of concluding whether they are reconciled with the interim financial information and accounting records, as applicable, and whether their format and content are in accordance with criteria determined in the Technical Pronouncement CPC 09 - Demonstração do Valor Adicionado. Based on our review, nothing has come to our attention that causes us to believe that it has not been prepared, in all material respects, in accordance with the criteria defined in this Pronouncement and consistent with the individual and consolidated interim financial information as a whole.
Curitiba, November 9, 2022
KPMG Auditores Independentes Ltda.
CRC SP-014428/O-6F-PR
Original report in Portuguese signed by
Edson Rodrigues da Costa
Accountant CRC PR-054199/O-0
KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada.
KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.
POSITIVO TECNOLOGIA S.A. AND SUBSIDIARIES
STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2022 AND DECEMBER 31, 2021 (Amounts expressed in thousands of reais)
Parent company | Consolidated | Parent company | Consolidated | ||||||||
September 30, | December 31, | September 30, | December 31, | September 30, | December 31, | September 30, | December 31, | ||||
ASSETS | Note | 2022 | 2021 | 2022 | 2021 | LIABILITIES AND SHAREHOLDERS' EQUITY | Note | 2022 | 2021 | 2022 | 2021 |
CURRENT ASSETS | CURRENT LIABILITIES | ||||||||||
Cash and cash equivalents | 5 | 386,902 | 287,152 | 436,833 | 359,007 | Suppliers | 17 | 661,815 | 870,647 | 900,855 | 1,186,214 |
Derivative financial instruments | 32 | 49,808 | 4,482 | 49,808 | 4,482 | Loans and financing | 18 | 724,228 | 390,072 | 731,105 | 400,196 |
Accounts receivable | 6 | 605,357 | 624,475 | 909,077 | 762,625 | Derivative financial instruments | 32 | - | - | - | - |
Inventories | 7 | 1,396,206 | 1,201,256 | 1,682,779 | 1,690,347 | Salaries and social charges payable | 42,416 | 35,068 | 48,580 | 38,387 | |
Related parties | 10 | 117,963 | 196,153 | 14,899 | 14,502 | Lease liabilities | 15.a | 9,357 | 7,874 | 10,938 | 9,115 |
Recoverable taxes | 8 | 318,189 | 142,639 | 351,127 | 157,222 | Provisions | 19 | 132,834 | 138,024 | 198,065 | 158,080 |
Income tax and social contribution | 42,288 | 14,717 | 47,648 | 18,803 | Provision for tax, labor and civil risks | 23 | 5,358 | 5,985 | 5,358 | 5,985 | |
Sundry advances | 25,315 | 38,209 | 60,276 | 56,229 | Taxes payable | 13,768 | 32,137 | 129,081 | 52,814 | ||
Other receivables | 9 | 61,203 | 52,873 | 65,115 | 56,823 | Dividends payable | 24.f | 58 | 47,611 | 58 | 47,611 |
3,003,231 | 2,561,956 | 3,617,562 | 3,120,040 | Deferred revenue | 8 e 20 | 4,724 | 4,759 | 8,771 | 5,753 | ||
Related parties | 10 | 170,066 | 9,810 | 1,085 | 745 | ||||||
Other accounts payable | 21 | 22,837 | 19,455 | 41,583 | 32,751 | ||||||
1,787,461 | 1,561,442 | 2,075,479 | 1,937,651 | ||||||||
NON-CURRENT LIABILITIES | |||||||||||
Loans and financing | 18 | 702,114 | 481,729 | 717,072 | 500,406 | ||||||
Lease liabilities | 15.a | 18,644 | 23,754 | 20,789 | 26,525 | ||||||
Provisions | 19 | 59,415 | 46,211 | 59,415 | 46,211 | ||||||
Provision for tax, labor and civil risks | 23 | 40,821 | 39,584 | 40,821 | 39,584 | ||||||
Related parties | 10 | 5,627 | 5,627 | 1,881 | 3,440 | ||||||
NON-CURRENT ASSETS | Net capital deficiency in subsidiaries and joint ventures | 11 e 14 .a | 475 | 475 | 475 | 475 | |||||
Long-term receivables | Deferred taxes | - | - | 532 | 654.00 | ||||||
Recoverable taxes | 8 | 255,169 | 275,650 | 255,312 | 275,722 | Other accounts payable | 21 | - | 98 | 10,426 | 17,529 |
Deferred taxes | - | - | 2,047 | 624 | 827,096 | 597,478 | 851,411 | 634,824 | |||
Other receivables | 9 | 67,683 | 63,240 | 68,434 | 63,636 | ||||||
322,852 | 338,890 | 325,793 | 339,982 | TOTAL LIABILITIES | 2,614,557 | 2,158,920 | 2,926,890 | 2,572,475 | |||
SHAREHOLDERS' EQUITY | |||||||||||
Investments in subsidiaries | 11 | 478,458 | 302,880 | - | - | Share capital | 24.a | 721,670 | 721,670 | 721,670 | 721,670 |
Investment in joint venture | 14 | - | - | 35,431 | 37,942 | Capital reserve | 24.b | 121,182 | 119,939 | 121,182 | 119,939 |
Investment in associates and others | 12 e 13 | 21,570 | 26,789 | 69,928 | 76,284 | Profit reserve | 24.c | 361,363 | 361,419 | 361,363 | 361,419 |
Property, plant and equipment | 15 | 80,574 | 72,456 | 112,025 | 92,894 | Equity valuation adjustment | 24.d | (23,493) | (10,069) | (23,493) | (10,069) |
Intangible assets | 16 | 34,449 | 27,780 | 102,432 | 86,994 | Treasury shares | 24.e | (20,936) | (21,128) | (20,936) | (21,128) |
Lucro do período | 166,791 | - | 166,791 | - | |||||||
615,051 | 429,905 | 319,816 | 294,114 | Shareholders' equity attributable to controlling shareholders | 1,326,577 | 1,171,831 | 1,326,577 | 1,171,831 | |||
Non-controlling interest | - | - | 9,704 | 9,830 | |||||||
937,903 | 768,795 | 645,609 | 634,096 | Total shareholders equiy | 1,326,577 | 1,171,831 | 1,336,281 | 1,181,661 | |||
TOTAL ASSETS | 3,941,134 | 3,330,751 | 4,263,171 | 3,754,136 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 3,941,134 | 3,330,751 | 4,263,171 | 3,754,136 |
See the accompanying notes to the individual and consolidated interim financial information.
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POSITIVO TECNOLOGIA S.A. AND SUBSIDIARIES
STATEMENTS OF INCOME FOR FOR THE NINE AND THREE-MONTH PERIODS ENDED AS OF SEPTEMBER 30, 2022 AND 2021
(Amounts expressed in thousands of reais)
Nine-month period ended in | Quarters ended on | ||||||||||||||||||
Parent company | Consolidated | Parent company | Consolidated | ||||||||||||||||
September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | ||||||||||||
Note | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||
NET REVENUE | 25 | 3,505,648 | 2,092,740 | 3,726,610 | 2,291,156 | 964,045 | 740,973 | 1,064,496 | 828,794 | ||||||||||
COST OF SALES AND SERVICES RENDERED | 26 | (2,907,433) | (1,619,795) | (2,971,021) | (1,732,890) | (792,026) | (579,942) | (839,816) | (630,994) | ||||||||||
GROSS INCOME | 598,215 | 472,945 | 755,589 | 558,266 | 172,019 | 161,031 | 224,680 | 197,800 | |||||||||||
Sales expenses | 26 | (342,067) | (248,450) | (348,441) | (259,700) | (103,364) | (82,263) | (108,772) | (88,466) | ||||||||||
General and administrative expenses | 26 | (101,306) | (91,853) | (138,312) | (113,838) | (35,063) | (26,779) | (50,162) | (40,394) | ||||||||||
Other operating income (expenses), net | 8 | 136,507 | 22,013 | 137,213 | 31,004 | 50,524 | 2,447 | 50,384 | 3,022 | ||||||||||
Equity in income of subsidiaries and associated companies | 11 a 14 | 108,485 | 53,951 | (7,618) | 4,667 | 18,125 | 18,009 | (4,594) | 6,399 | ||||||||||
(198,381) | (264,339) | (357,158) | (337,867) | (69,778) | (88,586) | (113,144) | (119,439) | ||||||||||||
INCOME BEFORE FINANCIAL INCOME AND EXPENSES | 399,834 | 208,606 | 398,431 | 220,399 | 102,241 | 72,445 | 111,536 | 78,361 | |||||||||||
Financial revenues | 28 | 69,090 | 31,828 | 73,569 | 34,763 | 40,644 | 7,080 | 42,550 | 7,009 | ||||||||||
Financial expenses | 28 | (236,911) | (96,860) | (256,639) | (105,345) | (90,134) | (37,785) | (98,745) | (40,358) | ||||||||||
Net exchange-rate change | 28 | (65,222) | 16,120 | (45,177) | 14,668 | (3,980) | 11,852 | (4,732) | 9,929 | ||||||||||
(233,043) | (48,912) | (228,247) | (55,914) | (53,470) | (18,853) | (60,927) | (23,420) | ||||||||||||
INCOME BEFORE INCOME TAX | 166,791 | 159,694 | 170,184 | 164,485 | 48,771 | 53,592 | 50,609 | 54,941 | |||||||||||
Current income tax and social contribution | 22 | - | - | (2,288) | (4,334) | - | - | (1,951) | (1,786) | ||||||||||
Deferred income tax and social contribution | 22 | - | - | 1,545 | 891 | - | - | 1,847 | 587 | ||||||||||
- | - | (743) | (3,443) | - | - | (104) | (1,199) | ||||||||||||
NET INCOME FOR THE YEAR | 166,791 | 159,694 | 169,441 | 161,042 | 48,771 | 53,592 | 50,505 | 53,742 | |||||||||||
Attributable to controlling shareholders | N/A | N/A | 166,791 | 159,694 | N/A | N/A | 48,771 | 53,592 | |||||||||||
Attributable to non-controlling shareholders | N/A | N/A | 2,650 | 1,348 | N/A | N/A | 1,734 | 150 | |||||||||||
NET INCOME PER SHARE - R$ | |||||||||||||||||||
Basic | 29 | N/A | N/A | 1.1929 | 1.1866 | N/A | N/A | 0.3488 | 0.3826 | ||||||||||
Diluted | 29 | N/A | N/A | 1.9120 | 1.1815 | N/A | N/A | 0.3481 | 0.3807 |
See the accompanying notes to the individual and consolidated interim financial information.
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Positivo Tecnologia SA published this content on 16 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 22:48:02 UTC.