PagSeguro Digital Ltd. (NYSE:PAGS) Q1 2019 Earnings Conference Call Transcript

May 14, 2019 • 07:00 pm ET

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PagSeguro Digital Ltd. (NYSE:PAGS) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Hello, everyone, and thank you for waiting. Welcome to a PagSeguro's First Quarter 2019 Results Conference Call. This event is being recorded and all participants will be in a listen-only mode during the conference presentation. After PagSeguro's remarks, there will be a question-and-answer session. At that time, further restrictions will be given (Operator Instructions). This event is also being broadcast live via webcast and maybe accessed through PagSeguro's website at investors.pagseguro.com, where the presentation is also available. Participants may view the slides in any order they wish. The replay will be available shortly after the event is concluded. Those following the presentation via webcast may post their questions on PagSeguro's website.

Before proceeding, let me mention that any forward-statements included in the presentation or mentioned on this conference call are based on currently available information and PagSeguro's current assumptions, expectations and projections about future events. While PagSeguro believes that their assumptions, expectations and projections are reasonable in view of currently available information, you are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those included in PagSeguro's presentation or discussed on this conference call for a variety of reasons, including those described in the forward-looking statements in Risk Factors section of PagSeguro's registration statement on Form F-1 and other filings with the Securities and Exchange Commission, which are available on PagSeguro's Investor Relations website.

Finally, I would like to remind you that during this conference call, the company may discuss some non-GAAP measures. For more details, the foregoing non-GAAP measures and the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures are presented in the last page of this webcast presentation.

Now, I would turn the conference over to Mr. Ricardo Dutra, CEO. Mr. Dutra, you may begin your presentation.

Executive
Ricardo Dutra

Hello, everyone, and welcome to our first quarter results conference call. Today, I have here with me Eduardo Alcaro, our CFO; and Andre Cazotto, our Head of Investor Relations.

Before we go through operational and financial metrics, I would like to say a few words about PAGS vision for the near future in this competitive market. Our primary focus is the payment business and we will keep investing to maintain our fast growth combined with profitability. We will now enter a new phase that we believe will be a landmark in PAGS history. Starting tonight, the company will offer digital payments and banking services in a massive way through the app to any Brazilian consumer in an on-boarding process that takes less than three minutes.

We are now launching a national advertising campaign to promote the services under the brand PagBank. PAGS already has a complete payment ecosystem, which is the core for digital account cashing (ph). We build our digital bank ecosystem with features such as wire transfers, P2P transfers, prepaid card, bill payments, mobile top up among others. In order to become the client's final money destination and to further increase our closed loop transactions. PAGS has already