Cielo - 23.3% Increase in Financial Volume and Net Income of R$721 Million in 4Q13

BARUERI, Brazil, Jan. 28, 2014 /PRNewswire/ -- Cielo S.A. (BM&FBOVESPA: CIEL3 / OTCQX: CIOXY) announces today its results for the fourth quarter and year of 2013. The Company's consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and in accordance with the accounting practices adopted in Brazil.

4Q13 HIGHLIGHTS

Change in the methodology that the Company uses to account revenues from commissions from credit card installment sales; all the information and financial statements presented are already in accordance with the new criterion;
Transaction financial volume totaled R$131.6 billion, up 23.3% year-on-year, or R$24.8 billion; and increase of 16.3% compared to 3Q13, or R$18.4 million;
Net Operating Revenue of R$1.9 billion, up 14.7% or R$237.3 million year-on-year and 6.7% or R$115.9 million quarter-on-quarter;
Net revenue from Prepayment of Receivables* totaled R$186.9 million, up 33.0% or R$46.4 million year-on-year and 27.3% or R$40.1 million quarter-on-quarter;
Prepayment of Receivables reached 17.3%, over the financial volume of credit, up 4.6 p.p. year-on-year and up 0.7 p.p. quarter-on-quarter;
EBITDA of R$912.7 million, up 8.9% or R$74.9 million year-on-year and decrease of 1.9% or R$17.5 million quarter-on-quarter;
EBITDA margin at 49.2%, down 2.6 p.p. year-on-year and 4.3 p.p. quarter-on-quarter;
Cielo's net income totaled R$720.7 million, up 16.2% or R$100.3 million year-on-year and 4.5% or R$31 million quarter-on-quarter;