CI&T Inc 6-K, filed Mar 28, 2024

CI&T Inc (CINT)

6-K 2024-03-28 For: 2024-03-28

Added on April 10, 2026

About this 6-K

CI&T Inc filed this 6-K on March 28, 2024.

(i)	the lack of the accounting of the deferred income accounting for tax-deductible goodwill, as required under the International Financial Reporting Standard (IFRS);
(ii)	the amortization of the identifiable intangible assets recognized as part of the Dextra business combination, which was considered nondeductible in the income tax calculation, and it was not consistent with the Brazilian income tax regulations; and
(iii)	the misclassification of the effects of foreign exchange variation related to loans and borrowings denominated in foreign currency (USD) and designated as hedge instruments. Such classification was previously recognized as a separate line in the statement of financial position, and now it is classified within loans and borrowings, which originated the foreign exchange variation.

	March 31, 2023
Condensed consolidated statements of financial position	As previously reported	Reclassification (iii)		Adjustments ^{(i)/ (ii)}		As restated

Current assets
Non-derivatives - hedge accounting	30,698	(30,698	)	-		-
Recoverable taxes	15,051	-		11,682		26,733
Total current assets	1,111,449	(30,698	)	11,682		1,092,433

Deferred tax assets	37,848	-		(21,265	)	16,583
Total non-current assets (a)	1,912,054	-		(21,265	)	1,890,789

Total assets	3,023,503	(30,698	)	(9,583	)	2,983,222

Current liabilities
Loans and borrowings	233,583	1,645		-		235,228
Non-derivatives - hedge accounting	40,052	(40,052	)	-		-
Total current liabilities (a)	736,973	(38,407	)	-		698,566

Non-current liabilities
Loans and borrowings	714,741	7,709		-		722,450
Deferred tax liabilities	-	-		29,371		29,371
Total non-current liabilities	899,461	7,709		29,371		936,541

Total liabilities	1,636,434	(30,698	)	29,371		1,635,107

Total equity	1,387,069	-		(38,954	)	1,348,115
Total equity and liabilities	3,023,503	(30,698	)	(9,583	)	2,983,222

	March 31, 2023
Condensed consolidated statements of profit or loss	As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Profit before income tax	64,105		-		64,105
Current income tax	(14,780	)	1,379		(13,401	)
Deferred income tax	3,057		(10,127	)	(7,070	)
Total income tax expense	(11,723	)	(8,748	)	(20,471	)
Net profit for the period	52,382		(8,748	)	43,634
Earnings per share – basic (in R$)	0.39		(0.29)		0.10
Earnings per share – diluted (in R$)	0.38		(0.28)		0.10

	March 31, 2023
Condensed consolidated statements of other comprehensive income	As previously reported	Adjustments		As restated

Total comprehensive income (loss) for the period	43,015	(8,748	)	34,267

	March 31, 2023
Condensed consolidated statements of changes in equity	As previously reported	Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Retained earnings (opening balance)	251,873	(30,206	)	221,667
Net profit for the period	52,382	(8,748	)	43,634
Balance as of March 31, 2023	1,387,069	(38,954	)	1,348,115

	March 31, 2023
Condensed consolidated statements of cash flows	As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Net profit for the period	52,382		(38,954	)	13,428
Adjustments for:
Income tax	11,723		38,954		50,677

Changes in operating assets and liabilities:	(895	)	-		(895	)
Cash generated from operating activities	116,562		-		116,562

	March 31, 2023
Basic and diluted earnings per share	As previously reported	Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Numerator
Profit attributable to holders of common shares	52,382	(38,954	)	13,428
Denominator
Weighted average number of basic shares held by shareholders	133,834,456	-		133,834,456
Earnings per share – basic	0.39	(0.29	)	0.10

Numerator
Profit attributable to holders of common shares	52,382	(38,954	)	13,428
Denominator
Weighted average number of diluted shares held by shareholders	137,279,821	-		137,279,821
Net earnings per share – diluted	0.38	(0.28	)	0.10

	June 30, 2023
Condensed consolidated statements of financial position	As previously reported	Reclassification ⁽ⁱⁱⁱ⁾		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Current assets
Non-derivatives - hedge accounting	29,090	(29,090	)	-		-
Recoverable taxes	22,401	-		13,061		35,462
Total current assets	976,262	(29,090	)	13,061		960,233

Deferred tax assets	28,187	-		(12,770	)	15,417
Total non-current assets	1,841,729	-		(12,770	)	1,828,959

Total assets	2,817,991	(29,090	)	291		2,789,192

Current liabilities
Loans and borrowings	200,285	366		-		200,651
Non-derivatives - hedge accounting	31,288	(31,288	)	-		-
Total current liabilities	583,770	(30,922	)	-		552,848

Non-current liabilities
Loans and borrowings	663,069	1,832		-		664,901
Deferred tax liabilities	-	-		48,116		48,116
Total non-current liabilities	837,437	1,832		48,116		887,385

Total liabilities	1,421,207	(29,090	)	48,116		1,440,233

Total equity	1,396,784	-		(47,825	)	1,348,959
Total equity and liabilities	2,817,991	(29,090	)	291		2,789,192

	Six months ended June 30, 2023						Three months ended June 30, 2023
Condensed consolidated statements of profit or loss	As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated		As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Profit before income tax	123,243		-		123,243		59,137		-		59,137
Current income tax	(18,668	)	2,758		(15,910	)	(3,888	)	1,379		(2,509	)
Deferred income tax	(4,353	)	(20,377	)	(24,730	)	(7,410	)	(10,250	)	(17,660	)
Total income tax expense	(23,021	)	(17,619	)	(40,640	)	(11,298	)	(8,871	)	(20,169	)
Net profit for the period	100,222		(17,619	)	82,603		47,839		(8,871	)	38,968
Earnings per share – basic (in R$)	0.75		(0.36	)	0.39		0.36		(0.07	)	0.29
Earnings per share – diluted (in R$)	0.73		(0.35	)	0.38		0.35		(0.06	)	0.28

	September 30, 2023
Condensed consolidated statements of financial position	As previously reported	Reclassification ⁽ⁱⁱⁱ⁾		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Current assets
Non-derivatives - hedge accounting	26,525	(26,525	)	-		-
Recoverable taxes	19,739	-		14,440		34,179
Total current assets	997,360	(26,525	)	14,440		985,275

Deferred tax assets	29,633	-		(13,747	)	15,886
Total non-current assets	1,852,257	-		(13,747	)	1,838,510

Total assets	2,849,617	(26,525	)	693		2,823,785

Current liabilities
Loans and borrowings	224,579	3,745		-		228,324
Non-derivatives - hedge accounting	34,721	(34,721	)	-		-
Total current liabilities	622,267	(30,976	)	-		591,291

Non-current liabilities
Loans and borrowings	620,589	4,451		-		625,040
Deferred tax liabilities	-	-		57,632		57,632
Total non-current liabilities	795,247	4,451		57,632		857,330

Total liabilities	1,417,514	(26,525	)	57,632		1,448,621

Total equity	1,432,103	-		(56,939	)	1,375,164
Total equity and liabilities	2,849,617	(26,525	)	693		2,823,785

	Nine months ended September 30, 2023						Three months ended September 30, 2023
Condensed consolidated statements of profit or loss	As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated		As previously reported		Adjustments ⁽ⁱ^{)/ (ii)}		As restated

Profit before income tax	172,569		-		172,569		49,326		-		49,326
Current income tax	(32,953	)	4,137		(28,816	)	(14,285	)	1,379		(12,906	)
Deferred income tax	(3,233	)	(30,870	)	(34,103	)	1,120		(10,493	)	(9,373	)
Total income tax expense	(36,186	)	(26,733	)	(62,919	)	(13,165	)	(9,114	)	(22,279	)
Net profit for the period	136,383		(26,733	)	109,650		36,161		(9,114	)	27,047
Earnings per share – basic (in R$)	1.02		(0.20	)	0.82		0.27		(0.07	)	0.20
Earnings per share – diluted (in R$)	0.99		(0.19	)	0.80		0.26		(0.07	)	0.20

	CI&T Inc
	By:	/s/ Stanley Rodrigues
		Name: Stanley Rodrigues
		Title: Chief Financial Officer