Business wire
CI&T Reports 14.7% Net Revenue Growth at Constant Currency in 4Q24 Results
Investor Relations Contact:
Eduardo Galvão
investors@ciandt.com
Media Relations Contact:
Zella Panossian
ciandt@illumepr.com
CI&T (NYSE: CINT, “Company”), a global technology transformation specialist and fast-growing public company, today announces its results for the fourth quarter of 2024 (4Q24) and the full-year ended on December 31, 2024 (2024) in accordance with International Financial Reporting Standards (IFRS), as issued by the IASB.
Fourth quarter of 2024 (4Q24) highlights
- Record Net Revenue of R$656.5 million, a 25.6% increase compared to 4Q23.
- Net Revenue growth at constant currency was 14.7% compared to 4Q23.
- Net Profit increased by 169%, reaching R$61.7 million in 4Q24, up from R$22.9 million in 4Q23.
- Adjusted EBITDA increased by 23.7% to R$128.1 million in 4Q24 compared to R$103.6 million in 4Q23. The Adjusted EBITDA margin was 19.5%.
- Adjusted Net Profit increased by 41.3% to R$78.2 million in 4Q24, up from R$55.3 million in 4Q23. The Adjusted Net Profit margin was 11.9%.
Full-year ended on December 31, 2024 (2024) highlights
- Net Revenue totaled R$2,367.8 million in 2024, a 6.0% increase compared to 2023.
- Net Revenue growth at constant currency was 1.3% year-over-year.
- Net Profit increased by 21.6%, reaching R$161.2 million in 2024, up from R$132.6 million in 2023.
- Adjusted EBITDA increased by 2.4% to R$442.4 million in 2024, compared to R$432.1 million in 2023. The Adjusted EBITDA margin was 18.7%.
- Adjusted Net Profit increased by 8.9% to R$241.9 million in 2024, up from R$222.1 million in 2023. The Adjusted Net Profit margin was 10.2%.
- Cash generated from operating activities increased by 12.7%, reaching R$467.0 million in 2024, up from R$414.3 million in 2023.
- CI&T ended 2024 with 6,907 employees, a 13.0% increase compared to 2023.
Cesar Gon, founder and CEO of CI&T, commented, “Our 4Q24 performance reflects our commitment to delivering transformative value. Our net revenue grew 25.6% (14.7% at constant currency) compared to 4Q23, driven by strategic investments, new sales initiatives, and a focus on organic growth and AI. This robust growth underscores the resilient and powerful nature of our business model, while maintaining a solid bottom line and strong cash generation. As CI&T approaches its 30th anniversary in 2025, we remain dedicated to sustainable, long-term value creation, fueled by innovation and excellence in technology transformation.”
The full 4Q24 Earnings Release can be accessed here.
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