SONDA's revenues grew by 16.2% during the first nine months of 2023, driven by increased business activity in the region.

SONDA, a prominent digital transformation company, released its consolidated financial results as of September 2023. The company’s consolidated revenue reached US$980.5 million for the first nine months of 2023, which implicates a 16.2% growth in reporting currency compared to the same period in 2022, primarily driven by enhanced commercial activity.

The technology solutions integrator detailed that the increase in consolidated revenues occurred in all geographies, led by North America with 28%, the Southern Cone region with 20%, Brazil with 7%, and the Andean region with 6%.

EBITDA reached US$88.4 million, slightly below what was reported for the same period in 2022, due to the company's strategy of increasing commercial investment to gain market share and strengthen its business lines in the 12 countries where it operates.

“The company's results as of September are aligned with our strategic plan for 2022-2024. At a consolidated level, during the period, we experienced increased dynamism in business closings and revenues. This was made possible through the implementation of our commercial strategy, focusing on strengthening our presence in the region, attracting new clients, and capitalizing on the growth rates in the IT market. We are planting the seeds for a future that we see filled with opportunities for our industry”, mentioned José Orlandini, SONDAS’s Chairman of the Board.

Among the significant contracts closed during the period, SONDA emphasizes on those with Caixa Econômica Federal in Brazil for an amount of around US$54 million, and another one with Transcaribe to manage the fleet and payment methods of the integrated transportation system in Cartagena, Colombia. The latter, aligns with the growth in mobility solutions, promoting smart and sustainable cities, in the same line of other projects already implemented in the region in Santiago, Chile, Mexico City, and Panama City. Additionally, in the period, they highlight the business closings volumes in the Banking and Insurance vertical, amounting to US$190 million, equivalent to a 153% growth compared to the same period in 2022.

Regarding new business opportunities, as of the end of September 2023, they amounted US$5.2 billion, reflecting a significant growth in all geographies compared to December 2022, when they stood at US$3.6 billion.

"We are in a good position to grow by focusing on those businesses where we have a competitive advantage with solutions that accelerate the digital transformation processes of our clients and respond to global automation needs that have a positive impact on people's lives". Orlandini concluded.