Dasa (DASA3) released its balance sheet for the fourth quarter of 2023 (4Q23) this Wednesday, 27th. The company’s net loss increased to R$495 million in 4Q22, an increase of 130% compared to the same period in 2022. In 2023, the drop was 191%, to R$1.1 billion in losses.
Earnings before interest, taxes, depreciation and amortization (Ebitda, in English) was R$407 million in the fourth quarter, down 10% compared to 4Q22. In the year, it showed a slight increase of 4%, at R$2.2 billion compared to the R$2.1 billion presented in 2022.
With adjustments, EBITDA for the quarter was R$438 million, down 7% compared to the same period in 2022. For the year, adjusted EBITDA showed the same positive variation of 4%, at R$2.3 billion.
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The company’s net revenue in 2023 was R$14.2 billion, an increase of 9% compared to the previous year. In the quarter, the line was R$3.3 billion, an increase of 1% compared to 4Q22.
General and administrative expenses, when adjusted, in the quarter showed a significant drop of 41% in the annual comparison with the fourth quarter of 2022, reaching R$271 million in 4Q23.
Growth in Hospitals and Oncology
Gross revenue expanded by 7%, at R$3.7 billion in 4Q23. According to the data release report, this was due to the growth in Hospitals and Oncology (BU1).
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Furthermore, there was an expansion of the national Diagnostics operation (BU2). With adjustment, gross profit for the quarter fell by 24%, reaching R$700 million compared to the R$925 recorded in 4Q22. This was due to higher adjusted operating costs in Hospitals and Oncology.
The company ended the fourth quarter of 2023 with net debt of R$9 billion. The figure is stable compared to the end of 3Q23. The cash position, however, fell by R$684 million between the quarters, ending 4Q23 at R$1.7 billion. The explanation for the variation was the settlement of debts in the period.
Dasa also announced that there was a significant reduction in investments, mainly in technology. According to the company, the movement is the result of management’s focus on capturing returns on investments already made.
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