The document summarizes Valid's 4Q10 earnings results. Key highlights include:
- Net income reached R$100 million in 2010, up 23.2% from 2009. EBITDA was R$175.1 million, up 20.3% and exceeding guidance.
- EBITDA margins grew across all divisions, driving consolidated margin to 22.9%.
- Cards division saw revenue growth of 13.2% despite a volume drop, due to growth in smart cards. EBITDA grew 15.2%.
- ID systems saw 12.4% revenue growth and 14.3% EBITDA growth due to new biometrics services.
Understanding CRA Digital News Subscription Tax CreditStuart Bollefer
Based in Toronto, CA, Stuart Bollefer serves as the senior tax partner at Aird & Berlis, LLP, where he provides client-driven solutions in areas such as estate planning and tax law. Stuart Bollefer possesses a wide range of knowledge on Canada Revenue Agency regulations.
The Digital News Subscription Tax Credit (DNSTC), an incentive to benefit readers of the Canadian news media, was established in 2019 and became effective in 2020. Taxpayers who subscribe to digital news through a qualified Canadian journalism organization (QCJO) can claim a 15-percent tax credit on the subscriptions. With the limit of applicable subscriptions at $500, this amounts to a maximum of $75 DNSTC tax credit per year. Claims are limited to standalone QCJO digital subscriptions. For subscriptions that involve a combination of newsprint and digital subscriptions, only the digital content is eligible for the tax credit. In addition, qualifying subscriptions are limited to the period of 2020 through 2024.
F-Prime Capital State of Technology Venture Capital - 2021F-Prime Capital
At the end of each year, we reflect on the current state of the venture market in technology. We are sharing it with our broader community in the hope that someone will find it informative, interesting or at least entertaining.
This presentation comprises key figures included in the publication OECD COmpetition Trends 2020 released on 26 February 2020 during the OECD Competition Open Day in Paris. The full publication can be found at oe.cd/comp-trends.
Understanding CRA Digital News Subscription Tax CreditStuart Bollefer
Based in Toronto, CA, Stuart Bollefer serves as the senior tax partner at Aird & Berlis, LLP, where he provides client-driven solutions in areas such as estate planning and tax law. Stuart Bollefer possesses a wide range of knowledge on Canada Revenue Agency regulations.
The Digital News Subscription Tax Credit (DNSTC), an incentive to benefit readers of the Canadian news media, was established in 2019 and became effective in 2020. Taxpayers who subscribe to digital news through a qualified Canadian journalism organization (QCJO) can claim a 15-percent tax credit on the subscriptions. With the limit of applicable subscriptions at $500, this amounts to a maximum of $75 DNSTC tax credit per year. Claims are limited to standalone QCJO digital subscriptions. For subscriptions that involve a combination of newsprint and digital subscriptions, only the digital content is eligible for the tax credit. In addition, qualifying subscriptions are limited to the period of 2020 through 2024.
F-Prime Capital State of Technology Venture Capital - 2021F-Prime Capital
At the end of each year, we reflect on the current state of the venture market in technology. We are sharing it with our broader community in the hope that someone will find it informative, interesting or at least entertaining.
This presentation comprises key figures included in the publication OECD COmpetition Trends 2020 released on 26 February 2020 during the OECD Competition Open Day in Paris. The full publication can be found at oe.cd/comp-trends.
After researching over a thousand Twitter Tools for the Twitter Tools Book I came across many tools that tried to add value by presenting a different way to visualize or analyze your tweets, the people in your network, and the tweets from the people in your network.
EC21 (www.ec21.com) is one of the world’s leading B2B e-commerce company, headquartered at Seoul, South Korea, connecting millions of suppliers and buyers worldwide.
Comunicação intra-pessoal
Aumentar a auto-estima,
Estimular a boa disposição,
Reflectir sobre a importância do pensamento positivo para o fortalecimento da pessoa,
Resgatar boas emoções, esquecidas no decorrer da vida
Reconhecer a beleza das coisas boas da vida, treinando a nossa mente para que deixemos de lado pensamento negativos.
After researching over a thousand Twitter Tools for the Twitter Tools Book I came across many tools that tried to add value by presenting a different way to visualize or analyze your tweets, the people in your network, and the tweets from the people in your network.
EC21 (www.ec21.com) is one of the world’s leading B2B e-commerce company, headquartered at Seoul, South Korea, connecting millions of suppliers and buyers worldwide.
Comunicação intra-pessoal
Aumentar a auto-estima,
Estimular a boa disposição,
Reflectir sobre a importância do pensamento positivo para o fortalecimento da pessoa,
Resgatar boas emoções, esquecidas no decorrer da vida
Reconhecer a beleza das coisas boas da vida, treinando a nossa mente para que deixemos de lado pensamento negativos.
ICT sector taxes, in general prevent the poor from participating in tomorrow’s information society.
A mobile money levy on transaction value is like a levy on EFT or credit card transaction. It is discriminating mobile money over other payment channels. It lowers the mobile money volume in the system,
incentivizes to stay informal,
affects the poor more than the rich, who have alternatives. The more people that have broadband access, the easier it will be to serve them with e-gov, e-health, e-education and financial services.
The more equal mobile money is to cash to higher the opportunities to make money of financial intermediation, which facilitates growth.
Dropping ICT excise duties will serve Africans better and grow tax revenues faster, creating a win-win situation.
FiinPro Digest #3: Covid-19 Pandemic: Assessing the Impacts from Corporate Fi...FiinGroup JSC
This Report is part of “FiinPro Data Digest” series and prepared
primarily for subscribers of FiinGroup’s financial information and
data platforms. As noted in previous issues, FiinPro Data Digest
focuses on analyzing financial data to give commentaries and
findings with specific data-driven evidence in order to provide
independent and in-depth perspective on securities and financial
issues.
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3. hIGHLIGHTS ¹ EBITDA ajusted for extraordinaryexpenses 2 EBITDA margin does not include equitypickup. ³ Adjusted for deferred liabilities related to income tax and social contribution and extraordinaryexpenses. 13th consecutive year of net income growth; Net income reaches R$ 100.0 million in 2010, up 23.2% on 2009; EBITDA of R$ 175.1 million in 2010, up 20.3%, and exceeds guidance; EBITDA Margin growth across all divisions drives consolidated Margin to 22.9%. 3
4. Net Revenueand EBITDA Breakdown 2010 Balancedrevenue mix Focusonhighermarginsbusinesses 4
5. Cards Volume drops 13.2% in the year due to the decline in inductive cards; Growth in smart cards (especially SIM cards) drives 13.2% net revenue growth in 2010; EBITDA grows 15.2% in the year and totals R$ 57.0 million; EBITDA margin reaches 25.1% in the quarter and closes the year at 21.8%. 5
6. Id systems Identical volumes in 2010 and 2009; 12.4% revenue growth due to the inclusion of biometrics services in existing agreements; EBITDA reaches R$ 87.0 million in 2010, up 14.3% on 2009; EBITDA margin of 37.8% in 2010, up 0.6 p.p. 6
7. Printing Services Growth in variable data’s share of net revenue, from about 45% in 2009 to 55% in 2010; Selective downsizing of product portfolio enabled 32.0% reduction in volume and 2.0% reduction in revenue in 2010; EBITDA grew 48.0% to reach R$ 29.6 million in the year; Greater efficiency + better product portfolio = EBITDA margin of 16.2% in 4Q10 and 11.2% in 2010. 7
10. Dividends + Interest on Equity 81,214 74,274 71,862 66,739 25,645 25,354 24,518 23,120 32% 35% 30% 38% 2009 2007 2008 2006 Net Income Dividends + InterestonEquity 10
11. digital certification Valid Digital Certifier starts assembling its infrastructure to issue the first certificates in 2012; The security of transactions through digital means is guaranteed by the Public Key Infrastructure (PKI) technology; The market, currently estimated at 1.5 million certificate holders, will add another 4 million when Brazil’s Federal Revenue Service makes it compulsory for companies registered under the ‘SIMPLES’ tax system. 11
13. Outlook 2011 Digital Certification: launch in April 2011 and revenues in 2012; New business divisions: ID Systems; Means of Payments; Telecommunications. Dividends: payout increase; EBITDA: 8% to 12% growth. 13
14. Investor Relations Contacts For additionalinformation, contactIR Area: Carlos Affonso D’Albuquerque CFO and IRO affonso@valid.com.br +55 (21) 2195-7202 +55 (21) 9584-1338 InvestorRelationsWebsite : www.valid.com.br/en/ir Av. Presidente WIlson, 231 - 16° Andar - Rio de Janeiro - RJ - CEP 20030-905 14
15. Forward-Looking Statements This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Valid. These are merely projections and, as such, are based exclusively on the expectations of Valid’s management concerning the future of the business and its continuous access to capital to finance the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian and international economies and the industry, among other factors, besides the risks presented in the documents filed by Valid and are, therefore, subject to change without prior notice. 15