SOURCE: CSU CARDSYSTEM S.A.

CSU CARDSYSTEM S.A.

August 11, 2011 10:29 ET

CSU Has a 32.6% Increase in Net Income in 2Q11 Compared to the Previous Quarter, and Gross Revenue Reaches a Record R$ 109 Million

SAO PAULO, BRAZIL--(Marketwire - Aug 11, 2011) - CSU CardSystem (BM&FBovespa: CARD3) -- the largest independent processor of electronic means of payment in Latin America -- posted its 2Q11 earning results, which main highlights are:

  • net income of R$ 5.9 million, a 32.6% expansion over 1Q11;
  • EBITDA of R$ 15.9 million;
  • record R$ 109 million revenue, up 8.5% compared to 1Q11, and 2.4% against 2Q10.

"The consistent result reaffirms the company's resiliency in the means of payment business and, mainly, demonstrates the growth of its contact center unit, in the striving for achieving better profitability," said Ricardo Ribeiro Leite, CSU's Administrative and Financial Officer.

CSU CardSystem -- gross revenue of R$ 55.6 million, up 11.6% over 1Q11, due to the natural growth of the business and the start of billing of Tribanco's Tricard. The number of cards billed expanded by 27.2% over 1Q11. Overall, CSU processed 24 million cards.

CSU Contact -- gross revenue of R$ 53.5 million, an increase of 5.4% against 1Q11 and of 21.4% compared to 2Q10. The performance reflects the enlargement in the number of workstations, which reached 4,433 by June 30, a 36.5% change year-over-year, as well as higher added value services provided. "The expansion in the number of workstations is key for the company to increase its revenues and improve its profitability after the maturation of the current installations, with a dilution of the initial costs that are characteristic of this type of service," said general manager Luis Guilherme Prates.

In 2Q11, company's total costs increased by 5.8% quarter-over-quarter, while net revenue was up 8.2%. Therefore, gross profits enlarged by 15.8%, with this resumption also being reflected in the expansion of EBITDA and net profits.

About CSU
CSU CardSystem S.A. is the largest independent processer of electronic means of payment in Latin America. CSU´s IPO in April 2006 positioned it among the select group of companies listed on the Novo Mercado. For 20 years, CSU has been providing management and processing services for card issuers. The Company has 9,000 employees in various locations throughout Brazil, including São Paulo, Barueri, Belo Horizonte, Rio de Janeiro and Recife. It is also well positioned in the contact center and relationship marketing segments through CSU Contact and CSU MarketSystem, respectively.

Contact Information

  • IR Contact
    Monica Hojaij Carvalho Molina
    CSU CardSystem S.A.
    Telephone: 55 11 2106-3821