03/28/2024 – 10:33
Azul's operating profit totaled R$883.2 million in the fourth quarter of 2023, an increase of 68.32% in the annual comparison. As a result, the operating margin reached 17.6% in the period, an increase of 5.8 percentage points (pp) on the same basis of comparison.
It is important to highlight that, according to the company, the numbers disclosed were not audited, since the work of independent auditors in relation to the review of such statements has not yet been completed.
The company's Ebitda (earnings before interest, taxes, depreciation and amortization) was R$1.46 billion in the quarter, 33.65% higher than the same period in 2022. As a result, the Ebitda margin was 29 .2%, an increase of 4.5 percentage points (pp) on the same basis of comparison.
Net revenue increased by 13% in the quarter in the annual comparison, to R$5.03 billion, reflecting the robust increase in passenger revenue, supported by the strong contribution from other businesses, according to the company.
During the period, operating costs and expenses rose 5.6% on an annual basis, to R$4.147 billion. Azul recorded a free cash flow of R$300 million in the period, after paying R$797.2 million in aircraft leases, R$499.1 million in capex and R$438.2 million in interest.
At the end of the quarter, net debt totaled R$19.367 billion, 1.2% lower than the same period of the previous year. Leverage, measured by the net debt to EBITDA ratio, was 3.7 times.
Finally, the net financial result, which does not include operational results, was negative at R$440.3 million, an increase of 50% on an annual basis.
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