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• Revenue: $845.5 million for 2024, a 22% increase year over year.

• Merchant Acquiring Revenue: Grew by 11% due to pricing initiatives and increased sales volume.

• Payments in Puerto Rico Revenue: Increased by 6%, driven by higher transaction volumes.

• LatAm Revenue: Increased by 62% year over year, with LatAm making up approximately 33% of total revenue.

• Adjusted EBITDA: $340.2 million, up 17% year over year, with a margin of 40.2%.

• Adjusted EPS: $3.28, up 16% year over year.

• Operating Cash Flow: Approximately $260 million for the full year.

• Shareholder Returns: Approximately $95 million returned through share purchases and dividends.

• Liquidity: Approximately $468 million as of December 31, 2024.

• Fourth Quarter Revenue: $216.4 million, up 11% year over year.

• Fourth Quarter Adjusted EBITDA: $88.6 million, up 24% year over year, with a margin of 40.9%.

• Fourth Quarter Adjusted Net Income: $56 million, up 37% year over year.

• Fourth Quarter Adjusted EPS: $0.87, up 40% year over year.

• Net Debt: $706.8 million at year end, with a net debt to trailing 12 months adjusted EBITDA of 2.06 times.

• 2025 Revenue Outlook: Expected to be between $889 million to $899 million, growth of 5.1% to 6.3%.

• 2025 Adjusted EPS Outlook: Expected growth between 1.8% and 5.2% from 2024.

• Warning! GuruFocus has detected 5 Warning Signs with EVTC.

Release Date: February 26, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Evertec Inc (NYSE:EVTC) reported a record revenue of $845.5 million for 2024, marking a 22% increase over the previous year.

• The successful integration of Sinqia, the largest acquisition in Evertec's history, contributed significantly to revenue growth, particularly in Latin America.

• Adjusted EBITDA rose by approximately 17% year over year to $340.2 million, with a margin of 40.2%, reflecting strong efficiency and expense management.

• The company has developed a robust business pipeline in Latin America, converting opportunities into significant business wins, including a deal with Grupo Aval in Colombia.

• Evertec Inc (NYSE:EVTC) returned approximately $95 million to shareholders through share purchases and dividends, demonstrating a strong commitment to shareholder value.

Negative Points

• The economic activity index in Puerto Rico decreased slightly in 2024, although it remains above pre-pandemic levels.

• The adjusted EBITDA margin decreased by approximately 180 basis points from the previous year, primarily due to the inclusion of Sinqia, which has lower margins.

• Evertec Inc (NYSE:EVTC) faces a 10% discount on Popular services starting in October 2025, which will impact revenue and adjusted EBITDA.

• Currency fluctuations posed a significant headwind, negatively impacting segment growth by 9.6 percentage points, mainly due to the devaluation of the Brazilian currency.

• The company anticipates client attrition in 2025, notably from Mercado Libre, which could affect growth in the Latin America segment.