Report Outline:

Sonda has announced Q4 2014 revenues, for the period ending December 31, 2014, of $421.5m, up 41.0% y/y.

Q4 2014 EBITDA was $62.7m, representing a margin of 14.9%, down 199bps compared with 16.9% in Q4 2013.

Full year 2014 revenues were $1,447.8m, up 30.7% y/y.

Full year 2014 EBITDA was $213.9m, representing a margin of 14.8%, down 219bps compared with 17.0% in 2013.

Q4 2014 revenue breakdown by line of business (and revenue growth in local currency) was:

• IT services: $218.6m (+53.5%)

- Chile ~$50.8m (-0.4%)
- Brazil ~$123.3m (+132.7%)
- Mexico ~$17.0m (+58.2%)
- Other Latin America ~$28.0m (-2.2%).

• Platform $173.3m (+28.6%)

- Chile ~$86.1m (+12.3%)
- Brazil ~$42.1m (+68.5%)
- Mexico ~$23.9m (+10.9%)
-Other Latin America ~$21.5m (+85.6%).

• Applications $29.5m (+37.1%).

- Chile ~$7.7m (+32.3%)
- Brazil ~$19.8m (+48.9%)
- Other Latin America ~$2.1m (-15.0%).

Full year 2014 revenue breakdown by line of business (and revenue growth) was:

• IT services: $807.4m (+37.9%)

- Chile ~$196.7m (-9.1%)
- Brazil ~$430.3m (+97.1%)
- Mexico ~$63.4m (+21.1%)
- Other Latin America ~$118.4m (+19.1%).

• Platform $529.0m (+21.3%)

- Chile ~$289.5m (+14.9%)
- Brazil ~$124.5m (+44.9%)
- Mexico ~$58.0 m (-2.7%)
- Other Latin America ~$57.9m (+46.7%).

• Applications $111.4m (+29.0%).

- Chile ~$25.5m (+19.7%)
- Brazil ~$78.1m (+42.0%)
- Mexico ~$0.0m (-100.0%)
- Other Latin America ~$8.0m (-18.5%).

Q4 2014 revenue by geography was:

• Chile $144.3m (+12.3%)
• Brazil $184.9m (+102.9%)
• Mexico $40.9m (+10.9%)
• Other countries in Latin America $51.5m (+21.0%).

Full year revenue by geography was:

• Chile $510.8m (+4.5%)
• Brazil $631.8m (+76.2%)
• Mexico $121.2m (+8.0%)
• Other countries in Latin America $184.1m (+23.9%).