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Positivo posts third quarter results

by Stuart Wilson, Wednesday 16 November 2011

Brazilian PC powerhouse Positivo Informatica has released its results for the third quarter of 2011. PC unit sales were up 33.9% year-on-year driven by notebook sales. During the first nine months of 2011, Positivo’s PC unit sales hit 1.61 million units.

During the third quarter, the company launched its Positivo Ypy line of tablet devices, with the product development based entirely on research conducted with Brazilian consumers.

Despite the increase in unit sales, Positivo’s overall third quarter revenues were down 21.3% year-on-year at US$276.2m as price erosion and the company’s changing product mix impacted the top line.

In its report announcing the third quarter results, Positivo stated: “The PC market performed satisfactorily in the third quarter of 2011, maintaining its growth trajectory, fuelled by the resumption of deliveries to government clients and healthy sales to the corporate market, especially to SMB. The retail market, on the other hand, began the period with modest volumes due to inventories remaining in the channel from the end of the second quarter, and the impact of the holiday period on product turnover in the stores.”

According to Positivo, component prices that had been impacted by the earthquake in Japan, returned to normal in the third quarter. The company did note that it was starting to see an impact on HDD pricing due to the unprecedented flooding in Thailand.

Positivo’s report stated: “More recently, in October, some hard disk drive (HDD) manufacturers in Thailand were forced to suspend production due to the problems caused by the floods that hit the country. This temporarily affected HDD spot prices, as well as their availability for delivery. This component accounts for between 5% and 10% of the cost of computers, depending on the configuration, and Thailand is responsible for around 40% of the global supply.”

“In Positivo’s case, however, the potential short-term impacts are being mitigated thanks to its strategic inventories of this component, with sufficient volume to support computer production until the beginning of 2012,” the report continued.

Positivo sold 244,800 PCs to the Brazilian government in the first nine months of 2011 and expects the full year figure to hit 380,000. Positivo recently launched an operation in Argentina and has already seen solid results with its Positivo BGH brand becoming one of the top-selling retail brands in the country.

Average PC prices fell sharply in the third quarter, down 19.5% on a sequential basis and 27.1% year-on-year. Positivo attributed the decline to the change in its product mix and also a reduction in state VAT charged by Paraná for in-state sales (from 18% to 7%) and interstate sales (from 12% to 7%), effective as of August.

DISTREE Latin America

The 2nd annual DISTREE Latin America takes place in September 2012. DISTREE Events expanded into the Latin American market in 2011, driven by demand from ICT and consumer electronics (CE) vendors for a regional channel development platform. DISTREE Latin America offers easy access to major buyers from across this vast region in one place at one time. www.distree-latam.com

DISTREE Latin America offers vendors a powerful and cost-effective platform to meet senior executives from major distributors and retailers from across this vast continent, accelerating channel development for all attendees. Follow DISTREE Latin America updates on Twitter www.twitter.com/DISTREE_LatAm

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