Fintech PR
CCR – Results for the 3rd quarter of 2024
SÃO PAULO, Nov. 1, 2024 /PRNewswire/ —
Highlights
- The Company announced the extension of Renovias’ term until April 13, 2026. Further details can be found in the regulatory matters section.
- Record traffic in all platforms, with growths of 4.4% in toll roads, 5.1% in urban mobility, and 8.8% in airports.
- CCR announced that will start the payment of dividends, totaling R$ 304 million, on November 29, 2024.
- CCR won the auction for the Sorocabana Route. The fixed grant amount offered was R$1.6 billion.
Consolidated Operational and Financial Highlights
OPERATIONAL AND FINANCIAL HIGHLIGHTS (R$ MM) |
3Q23 |
3Q24 |
Var.% |
9M23 |
9M24 |
Var.% |
Consolidated Adjusted Net Revenue¹ |
3,416 |
3,782 |
10.7 % |
9,745 |
10,748 |
10.3 % |
Consolidated Adjusted EBITDA¹ |
2,122 |
2,190 |
3.2 % |
5,853 |
6,265 |
7.0 % |
Adjusted EBITDA – Toll Roads |
1,549 |
1,621 |
4.6 % |
4,375 |
4,653 |
6.4 % |
Adjusted EBITDA – Mobility |
552 |
571 |
3.5 % |
1,422 |
1,561 |
9.8 % |
Adjusted EBITDA – Airports |
235 |
274 |
16.5 % |
632 |
793 |
25.4 % |
Adjusted EBITDA – Others |
(214) |
(276) |
28.8 % |
(575) |
(742) |
29.0 % |
Consolidated Adjusted EBITDA Margin² |
62.1 % |
57.9 % |
-4.2 p.p. |
60.1 % |
58.3 % |
-1.8 p.p. |
Adjusted Net Income¹ |
502 |
560 |
11.7 % |
1,022 |
1,420 |
38.9 % |
Net Debt/LTM Adjusted EBITDA (x) |
2.9 |
3.1 |
0.2 p.p. |
2.9 |
3.1 |
0.2 p.p. |
Toll Roads – Equivalent Vehicles (million) |
300.9 |
314.0 |
4.4 % |
869.3 |
909.6 |
4.6 % |
Mobility – Transported Passengers (million) |
184.3 |
193.6 |
5.1 % |
529.2 |
560.6 |
5.9 % |
Airports – Boarded Passengers (million) |
4.8 |
5.2 |
8.8 % |
13.5 |
14.6 |
8.4 % |
CAPEX³ |
1,331 |
2,101 |
57.9 % |
4,190 |
4,982 |
18.9 % |
- Excludes construction revenue and expenses. Adjustments are described in the “non-recurring effects” section in Exhibit I.
- The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
- Includes improvement works that do not generate future economic benefits for ViaOeste.
Videoconference
Conference call in Portuguese with simultaneous translation into English:
November 1st, 2024
10:00 a.m. São Paulo / 09:00 a.m. New York
Videoconference link:
https://grupoccr-br.zoom.us/webinar/register/WN_BwhScwe7RiiCHKDSZ1znTg
IR Contacts
Flávia Godoy: (+55 11) 3048-5900 – [email protected]
Douglas Ribeiro: (+55 11) 3048-5900 – [email protected]
Cauê Cunha: (+55 11) 3048-5900 – [email protected]
Igor Yamamoto: (+55 11) 3048-5900 – [email protected]
Caique Moraes: (+55 11) 3048-5900 – [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/ccr—results-for-the-3rd-quarter-of-2024-302293554.html
Fintech
Fintech Pulse: Your Daily Industry Brief – Breaking Trends and Insights in Fintech
In the fast-paced world of financial technology, shifts occur daily as companies strive for innovation, customer satisfaction, and enhanced market reach. Today’s briefing covers a spectrum of developments, from Visa Direct’s groundbreaking integration in Korea to challenges plaguing the app economy. We’ll also touch on recent acquisitions, strategic partnerships, and expansions in fintech ecosystems. Here’s what you need to know about today’s most pressing fintech trends.
Visa Direct’s Milestone in South Korea: SentBe’s Card Transfer Service Launch
South Korea’s fintech ecosystem has taken a notable leap forward with SentBe’s implementation of Visa Direct’s Card Transfer Service. This collaboration marks a milestone, positioning SentBe as the first Korean fintech company to offer card-to-card international money transfers, a feature in high demand given the rise in cross-border financial activities. Visa Direct’s real-time card-to-card transfers are a potential game-changer for consumers and businesses alike, facilitating faster and more secure global transactions.
The collaboration exemplifies Visa’s larger strategy of partnering with regional fintech players to broaden its influence across Asia’s dynamic fintech markets. By tapping into SentBe’s growing customer base and extensive user insights, Visa is embedding itself deeper into local markets, simultaneously offering Korean users a more streamlined and efficient money transfer experience.
The service’s design allows individuals and small businesses alike to benefit from quicker transaction processing times, marking a significant evolution from traditional remittance processes that rely on intermediary banks. The move is especially critical in a digital age where customer expectations lean heavily towards instant, seamless financial interactions.
Source: Electronic Payments International
Fintech App ‘Trap’ Enrages Consumers Struggling to Cancel Subscriptions
In the modern subscription-based economy, some fintech companies are facing backlash over what customers perceive as the ‘trap’ of endlessly renewable subscriptions that are nearly impossible to cancel. A recent expose revealed mounting frustrations among consumers who signed up for digital services but later found themselves locked into subscriptions they could not easily terminate. The piece highlights the darker side of user retention strategies deployed by some companies to mitigate churn by making cancellation processes intentionally convoluted.
The app-based economy relies on recurring revenue, which remains a vital lifeline for startups and established firms alike. However, industry insiders argue that lack of transparency and difficult cancellation processes have an adverse impact on customer trust, leading to a growing dissatisfaction that may ultimately backfire on these companies. As consumers grow more savvy, fintechs relying on these practices could risk higher attrition rates, regulatory scrutiny, and brand erosion.
This emerging issue has raised questions about ethical standards and customer-centric models in fintech. As competition intensifies, companies must balance growth with transparent practices that foster customer loyalty, rather than coercion.
Source: Forbes
Pinwheel and Terafina Partner to Streamline Omnichannel Customer Onboarding
Pinwheel, a fintech infrastructure company known for its payroll and income data connectivity solutions, recently announced a partnership with Terafina, a leader in omnichannel sales and service platforms for financial institutions. This collaboration aims to simplify and enhance the onboarding process for new customers, providing them with seamless experiences across multiple channels, whether online, mobile, or in-branch.
The partnership combines Pinwheel’s data integration capabilities with Terafina’s expertise in customer onboarding, allowing financial institutions to create more personalized and flexible account opening processes. With consumer expectations evolving towards instant service and mobile-first access, this integration empowers banks and credit unions to meet these needs by delivering cohesive and smooth digital onboarding journeys.
In an industry where customer acquisition and retention are increasingly dependent on first impressions, the significance of streamlined onboarding cannot be overstated. By improving access to real-time employment and income data, this partnership enhances user verification and compliance while also allowing institutions to better assess applicants’ creditworthiness, which is crucial in today’s lending environment.
Source: PR Newswire
nCino Acquires FullCircl in $135 Million Deal: Expanding the Scope of Relationship Management
Fintech giant nCino recently completed its acquisition of FullCircl, a move that underscores its ambition to broaden its reach in the financial services sector. FullCircl, known for its focus on customer relationship management (CRM) solutions tailored to financial institutions, brings a robust set of tools that will allow nCino to enhance its cloud-based banking platform. The acquisition, valued at $135 million, positions nCino as a stronger player in the relationship management space, especially crucial for institutions looking to build deep, long-term client relationships.
With this acquisition, nCino aims to expand its footprint in Europe and boost its offerings in the CRM space, providing banks and credit unions with innovative tools for client engagement and retention. The integration of FullCircl’s CRM capabilities will also support nCino’s existing portfolio, which includes loan origination and digital banking solutions, strengthening its position as a one-stop platform for financial institutions.
This acquisition is part of a growing trend of consolidation in the fintech sector, where larger firms acquire specialized players to fill critical service gaps and offer more comprehensive solutions. By building a holistic platform that spans multiple functionalities, nCino is better equipped to compete in the increasingly crowded digital banking software market.
Source: The Paypers
DriveWealth’s European Expansion: A Strategic Base in Lithuania
DriveWealth, a digital brokerage technology firm, has chosen Lithuania as the launchpad for its European operations. By establishing a base within Lithuania’s burgeoning fintech hub, DriveWealth is strategically positioning itself to tap into the European market, leveraging the country’s favorable regulatory environment and proximity to major EU economies.
The expansion is particularly significant given the increasing demand in Europe for retail investing platforms that provide accessible and affordable market entry. DriveWealth’s solutions enable digital brokers and financial platforms to offer customers fractional shares and real-time trading experiences, which have proven highly popular in markets like the U.S. This move aligns with DriveWealth’s long-term growth strategy and its commitment to democratizing access to investing across the globe.
Lithuania’s supportive regulatory framework and well-developed fintech infrastructure make it an ideal location for DriveWealth’s entry into Europe. The country’s fintech-friendly policies allow innovative financial service providers to set up and scale efficiently. DriveWealth’s presence in Lithuania not only adds to the growing cluster of fintech firms but also reinforces the country’s reputation as a rising fintech powerhouse within the EU.
Source: Finance Magnates
Key Takeaways and Strategic Insights
As seen from today’s top stories, several overarching themes shape the fintech landscape:
- Global Partnerships and Local Expansion: Visa’s collaboration with SentBe exemplifies how partnerships enable fintech firms to break into regional markets by addressing specific customer needs.
- Transparency in Subscription Models: The customer backlash against difficult-to-cancel fintech services raises concerns about the sustainability of current subscription models.
- Innovation in Customer Onboarding: Pinwheel and Terafina’s partnership highlights the importance of streamlined onboarding processes as a means to increase customer satisfaction and improve retention.
- Mergers and Acquisitions to Fill Service Gaps: nCino’s acquisition of FullCircl illustrates a broader trend of consolidation, where fintech companies acquire specialized players to broaden their product portfolios.
- Regional Hubs as Strategic Launch Pads: DriveWealth’s decision to establish a base in Lithuania underscores the importance of regional fintech hubs in providing a supportive environment for global expansion.
Today’s roundup underscores the adaptability of fintech companies as they navigate emerging challenges and opportunities. From addressing regional financial needs to innovating customer experience, fintech firms continue to redefine what it means to engage in modern finance. As the industry grows, so too does the necessity for ethical practices, robust infrastructure, and agile customer solutions. In this competitive environment, the companies that prioritize transparency, customer satisfaction, and strategic expansion will set the standard for the future of finance.
The post Fintech Pulse: Your Daily Industry Brief – Breaking Trends and Insights in Fintech appeared first on HIPTHER Alerts.
Fintech PR
MANTRA and Libre Open Onchain Access to BlackRock Money Market Fund
HONG KONG, Oct. 31, 2024 MANTRA, a layer 1 blockchain purpose-built for tokenized real-world assets (RWAs) has partnered with Libre Capital, a UAE-headquartered financial instruments tokenization and issuance platform, to provide investors with onchain access to a diverse range of attractive investment funds. This partnership will provide those MANTRA users that are institutional or accredited investors with investment opportunities across a number of notable onchain funds, including leading hedge funds, private credit funds and the BlackRock ICS Money Market fund.
By leveraging Libre’s capabilities and MANTRA’s robust ecosystem, the partnership will facilitate the issuance of a tokenized BlackRock ICS Money Market Fund, and expand investment horizons for institutional and accredited investors seeking to diversify their portfolios within the digital asset landscape. The initiative underscores MANTRA’s commitment to leading the development of a comprehensive and diverse digital asset infrastructure, and strengthens MANTRA’s position in the growing digital asset spectrum within the financial services industry.
Libre operates backbone infrastructure that allows investors to access tokenized versions of real world assets such as money market funds, private credit and hedge funds and other alternative asset products on public blockchains. Libre does this through the on-chain Libre Gateway DeFi dApps (decentralized applications) deployed on each public chain. This enables accredited, professional and institutional investors to directly access top-tier funds on MANTRA Chain in a fully compliant manner.
“We’re honored to be partnering with Libre to give users access to this caliber of funds,” said MANTRA Co-Founder and CEO John Patrick Mullin, “with the addition of protocols like the Libre Gateway, MANTRA can better equip users with a best-in-class collection of tools to continue to grow the real-world asset economy.”
“The launch of the Libre Gateway on MANTRA Chain is a huge step forward to enable access to wealth and treasury management tools for users on MANTRA, and for Libre to take advantage of MANTRA’s RWA-specific infrastructure,” said Dr. Avtar Sehra, CEO and founder of Libre.
This partnership comes after MANTRA recently announced the launch of its mainnet, simplifying the process of bringing RWAs onchain and marking a significant step in the integration of traditional finance with blockchain technology. For more information about MANTRA and access to the money market funds, visit mantrachain.io.
About MANTRA Chain:
MANTRA Chain is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.
Website | Twitter | LinkedIn | Discord
About Libre Capital:
Libre is building the investment infrastructure to enable asset managers to seamlessly connect with distributors and enable unparalleled access to global alternatives investment funds. In addition, Libre is working on enabling access to value-add services in the alternative assets ecosystem such as collateralized lending and automated rebalancing. Currently, Libre only makes its tokenized funds available to institutional and accredited investors. https://www.librecapital.com
Photo – https://mma.prnewswire.com/media/2545959/Libre_X_MANTRA_Image.jpg
View original content:https://www.prnewswire.co.uk/news-releases/mantra-and-libre-open-onchain-access-to-blackrock-money-market-fund-302293314.html
Fintech PR
Citrea Raises $14M to Expand Bitcoin Beyond Digital Gold
Citrea is the first to expand Bitcoin from a passive store of value to an active, programmable asset by introducing a secondary layer solution using zero-knowledge technology.
GEORGE TOWN, Cayman Islands, Oct. 31, 2024 /PRNewswire/ — Citrea , the first solution to make it possible to build anything on Bitcoin, today announced its $14M Series A funding round, led by Peter Thiel’s Founders Fund, with participation from Erik Voorhees, Balaji Srinivasan, Jameson Lopp, Maven11, and other prominent angel and venture investors. Citrea has also launched its exclusive developer program, ‘Citrea Origins ‘, bringing together a select group of developers to build applications on Citrea—the only platform for expanding Bitcoin’s utility.
Bitcoin’s global adoption has solidified its role as “digital gold”, but its broader financial potential has remained untapped due to the lack of a scalability solution that maintains its core principles. This gap has forced users to either keep Bitcoin as a passive store of value or rely on custodians for broader use. This adoption undermines Bitcoin’s role in decentralized finance. Without a proper scalability solution, Bitcoin risks losing its relevance in decentralized finance and becoming obsolete as a network.
Citrea is the first Bitcoin scalability solution to expand Bitcoin’s utility without compromising its decentralization or security. Citrea enhances the capabilities of Bitcoin blockspace with zero-knowledge technology and enables the Bitcoin network to support diverse on-chain applications and platforms. By eliminating the need for intermediaries, Citrea allows users to trustlessly buy, leverage, lend, borrow, and use BTC—transforming Bitcoin from a passive store of value into an active financial tool.
“Citrea is a major milestone in the timeline of Bitcoin’s evolution and the first investment we’ve made in the Bitcoin ecosystem,” said Joey Krug , Partner at Founders Fund. “With the strongest team and best technical design we’ve seen in the Bitcoin L2 space, Citrea’s 0→1 technology enables Ethereum-like rollups for smart contracts on Bitcoin in a trust-minimized way.”
“For the past 18 months, we’ve been building the infrastructure Bitcoin needs to move beyond just a store of value and step into a new era of Bitcoin-backed decentralized finance,” said Orkun Kilic , co-founder and CEO of Chainway Labs. “Citrea combines breakthroughs in cryptography with rigorous engineering to make this vision a reality. Bitcoin not only enables a borderless economy but also serves as the foundation for a censorship-resistant monetary layer. Our mission is to lay the foundation and ecosystem required to drive global hyperbitcoinization.”
About Citrea
Citrea is the first rollup that increases BTC’s utility and activates Bitcoin blockspace for a new decentralized financial ecosystem. Citrea’s vision is to build scalable infrastructure that advances Bitcoin into its next phase: the foundation for the world’s finance.
Apply for the developer program ‘Citrea Origins ‘.
For more information, please visit: Citrea website | Citrea X Account
About Chainway Labs
Chainway Labs, the company building Citrea, was co-founded by four young computer scientists and entrepreneurs with a focus on Bitcoin, Ethereum, and zero-knowledge technology.
Photo – https://mma.prnewswire.com/media/2541872/Citrea_Series_A.jpg
View original content:https://www.prnewswire.co.uk/news-releases/citrea-raises-14m-to-expand-bitcoin-beyond-digital-gold-302289040.html
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