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Performance in 2019

GRI 201-1

The set of results evidences OdontoPrev’s unique strategic positioning, with a specialized operation in each client’s segment, optimizing the capture of growth opportunities and value creation.

Net revenue grew 12.8% in 2019, from R$1,592 million in 2018 to R$1,795 million in 2019, with an average ticket of R$21.13 per beneficiary/month, compared to R$20.43 in 2018.

Evolution of Net Revenue (R$ million)

The number of OdontoPrev’s beneficiaries reached 7,399,638 in 2019. The portfolio was composed of corporate clients (71%) and the remaining 29%, SMEs, and individual plans.

The cost of services accounted for 44.5% of revenue for the year, versus 44.1% in 2018. Selling and administrative expenses represented 26.6% of revenue in 2019, compared to 25.8% in the previous year.

Operating cash generation, measured by adjusted EBITDA, totaled R$418 million in 2019, 1% higher than in 2018, with a margin of 23.3%, lower than the 26.1% recorded in 2018.

Adjusted EBITDA (R$ million)

Net income totaled R$285 million, in line with 2018, and the Company ended 2019 with net cash of R$560 million, and zero debt.

Net Income (R$ million)

Return to shareholders

In 2019, OdontoPrev completed 13 years of its IPO on B3’s Novo Mercado, and at the end of 2019, reached a market capitalization of R$9.0 billion. Total return to shareholders since the IPO accumulates 824%, versus 257% of IBX-100.

Value-Added Statement (VAS)

The VAS aims at evidencing the wealth generated by OdontoPrev and its distribution to the company’s segments, represented by shareholders, employees, financial institutions, and government. The value distribution took place as follows:

Icone Excel
(Reais thousands)   
CodeAccount Description01/01/2018 to 12/31/201801/01/2019 to 12/31/2019
7.01Revenue1,543,5301,764,092
7.01.01Sales of goods, products and services1,600,1671,842,530
7.01.04Provision/reversal of doubtful accounts-56,637-78,438
7.02Inputs acquired from third parties-959,567-1,147,633
7.02.01Costs of products, goods, services sold-669,569-776,457
7.02.02Supplies, energy, outsourced services and others-20,457-21,000
7.02.04Others-269,541-350,176
7.02.04.01Other operating income (expenses)-1,853-3.849
7.02.04.02Selling expenses-167,077-201,072
7.02.04.03Administrative expenses-103,348-140,516
7.02.04.04Variation in provision for events/losses occurred and not notified (IBNR)-969-12,077
7.03Gross value added583,963-616,459
7.04Retentions-13,805-22,527
7.04.01Depreciation, amortization and depletion-13,805-19,211
7.04.02Others0-3,316
7.04.02.01Right of use amortization (CPC 06 (R2)/IFRS 16)0-3,316
7.05Value added received, net produced570,158593,932
7.06Value added received in transfer49,42240,047
7.06.01Equity accounting17,448,129
7.06.02Financial income31,91831,918
7.07Total value added to distribute619,58633,979
7.08Distribution of value added619,58633,979
7.08.01Personnel89,266116,497
7.08.01.01Direct compensation65,98289,802
7.08.01.02Benefits18,47920,754
7.08.01.03F.G.T.S.4,8055,941
7.08.02Taxes, fees and contributions224,185215,3
7.08.02.01Federal186,961200,807
7.08.02.02State4443
7.08.02.03Municipal37,1814,45
7.08.03Debt capital12,77414,664
7.08.03.02Rentals5,6642,053
7.08.03.03Other7,1112,611
7.08.03.03.01Financial expenses7,1112,611
7.08.04Equity capital284,793284,763
7.08.04.01Interest on equity59,62762,556
7.08.04.02Dividends103,131136,779
7.08.04.03Retained earnings/accumulated losses for the period122,03585,428
7.08.05Other8,5622,755
7.08.05.01Stock Option Grant8,5622,755
Balões de depoimentos

Testimonials

The support we receive from OdontoPrev is very important for our institution, as it qualifies the social protection we offer to our employees, their dependents and institution’s users, without its support, it would be difficult to guarantee their right to dental health.

Crislaine Lima, Socio-Educational Program Coordinator, Gol de Letra Foundation

OdontoPrev has been a partner of the Ronald McDonald Institute, since the foundation of this Institute in 1999 and has been contributing to transform the lives of thousands of children and adolescents with cancer in Brazil. With a 21-year history, the Institute already supported 1,500 projects of 100 institutions throughout the country, qualifying 26,000 health professionals in the early diagnosis of cancer.

Francisco Neves, Founder, and Superintendent of Ronald McDonald Institute

Over 500 people are benefited from OdontoPrev’s dental plans in its partnership with Tide Setubal Foundation. Taking into account that we assist socially vulnerable people, perhaps some of them never experienced something like that, as they made other choices in life.

Thiago Cassimiro, Tide Setubal Foundation’s Project Assistant, talking about the donation of dental plans in the “Black Friday do Bem” campaign.

Since I was a child, I had contact with Dentistry, my uncle was a dentist. I loved to see him working. Today, I am proud to be a dentist, strong-willed to serve patients. OdontoPrev not only takes care of the patient, but it also takes care of services through satisfaction surveys, which check service provided by the dentist, thus, everyone wins, patients, and dentists.

Rodrigo Villagra, OdontoPrev’s accredited dentist

I can see a digital future in dentistry and OdontoPrev’s competitive advantage is innovation and agility. The company offers a loyalty program to dentists, which allows accumulating points that I can exchange with dental materials.

Priscilla Ronchetti, OdontoPrev’s accredited dentist

We have been maintaining a long-standing partnership with OdontoPrev, approximately 15 years. OdontoPrev knows our routine and our demands concerning quality. We realize how OdontoPrev has been changing over the years, pursuing new technologies, improving its website and platform. This makes us look at our partnership in the long run.

Luciana Ezequiel, DHL’s HR Officer

The Young Entrepreneurs Program allowed me to grow as a professional and as a person, made me rediscover myself as a marketing professional and grow more and more. Every day I feel I contribute to the Company’s evolution and I have the opportunity of taking part in strategic projects.

Victoria Carnieri, OdontoPrev’s Marketing

I was well-received, with kindness and without discrimination. All the opportunities I receive at the company are fairly offered to me. OdontoPrev’s opportunities are offered to anyone pursuing professional and personal growth.

Paulo Ferreira, OdontoPrev’s Sustainability assistant

OdontoPrev’s Trainee Program offers lots of labor market opportunities, it includes trainees in different projects that contribute to his/her personal and professional development and presents adverse corporate scenarios for professional growth.

Mariana Lupianhas, OdontoPrev’s internship

I feel challenged by strategic projects I receive and I feel responsible for sustaining the company as a leader in the market. My 30-year experience in OdontoPrev makes me feel comfortable to innovate. OdontoPrev combines the strength of a publicly-held company and its capacity and desire for innovation. The employee is stimulated to devise new solutions at all hierarchical levels and play a leading role.

Diego Lyra, OdontoPrev’s Controller

OdontoPrev changed my life and received me with open arms. I am a disabled person, due to a traffic accident occurred 21 years ago. Every environment is prepared to receive any type of disability and fully accessible. The Company allowed me to develop myself intellectually and take up courses to improve my work.

Raquel Naressi, OdontoPrev’s Clinical Audit Supervisor