The good performance in 2018 reflects an ongoing geographical expansion, new market possibilities and the resulting increase in our capillarity. This year we have expanded our operations in the Brazilian South and Southeast regions and started operating in the Northeast of the country. We have expanded our offer of products and services to provide the best experience to our clients, meeting our corporate purpose of Gente Servindo Gente (People Serving People).
We are an unlisted publicly held company and we adopt principles, governance structure and routines in line with the best market practices. In 2018, Archy LLC, GIC’s affiliated (Singapore Sovereign Fund) joined Algar as our shareholder. Together with Algar group’s recognized governance practices, this will bring us the opportunity to have international practices and experiences. Also in 2018 and early 2019, we carried out the 7th and 8th public issues of the Company’s debentures and the 1st public issue of promissory notes. We had a demand well above expectations, resulting not only from the sustainable strategy, but also from the relationship we have built with the market over the years, guided by a trustworthy and transparent information.
The customer is our reason for existing. This is one of Algar Telecom’s values, which represents a sentence by the founder of Algar group, Alexandrino Garcia. In 2018, our 16,133 employees worked to offer the best solutions to the market and to people’s daily lives.
We want to be a reference in digital solutions for the B2B segment and our operation’s methodologies are developed with this purpose. We are founding members of Brain, an Institute of Science and Technology created to build strategic partnerships with the goal of simplifying the day-to-day life of individuals and companies. In the same way, in 2018, we structured Estação to disseminate the innovation culture within Algar Telecom.
Given the geographic expansion of Algar Telecom’s operations, our social projects were also expanded, through Algar Institute, keeping the commitment to invest in the communities where we are located. In addition, we are signatories and support international initiatives, such as the Global Compact and the Sustainable Development Goals (SDGs).
Algar Telecom’s net profit reached R$316.1 million in 2018, surpassing the result of the previous year by 38%. The numbers for the period show the efficiency to implement the Company’s strategy and the competitive advantages of our products and services. In addition to the financial performance, we were recognized with key awards in corporate governance, people management, sustainability, innovation and customer service.
Our goal for 2019 is to position ourselves as an increasingly national player, keeping the accelerated growth and our geographic expansion. We will move forward with our technology innovation initiatives, in which Brain and Estação have key roles in the development of disruptive products and solutions.