Brazil · Delayed Price · Currency is BRL CVC Brasil Operadora e Agência de Viagens Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw modest booking growth but lower revenue and take rate due to B2B and maritime mix, with Brazil showing resilience and Argentina impacted by FX. Cost reductions and digital transformation are underway, with July sales rebounding and no near-term fundraising planned.
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Resilience amid the Middle East conflict enabled 4% booking growth and stable net revenue, with B2B outpacing B2C. EBITDA declined 10.5% due to conflict and FX impacts, but leverage improved and cost discipline remains a focus.
Fiscal Year 2025
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EBITDA margin surpassed 30% with record cash generation and strong B2B growth in both Brazil and Argentina. Digital transformation and expansion into metasearch platforms are set to drive future growth, while deleveraging and efficiency remain top priorities.
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Strong B2B growth and international expansion drove a 15% increase in confirmed bookings and a 36% rise in net profit, while leverage dropped to 0.5x EBITDA. Ongoing digitalization and store expansion in small towns support future growth, despite B2C headwinds and maritime travel challenges.
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Q2 2025 saw strong revenue and EBITDA growth, driven by B2B and international expansion, while B2C faced headwinds from maritime capacity cuts and macroeconomic challenges. Operating cash generation and debt reduction improved, with technology and strategic partnerships supporting future growth.
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Q1 2025 saw 30% sales growth and a BRL 1 billion increase, with all business units expanding and EBITDA up 21%. Phygital sales reached 44% of B2C, exclusive products grew to 22%, and net debt fell to 0.9x EBITDA. Growth is expected to continue, though at a more moderate pace.
Fiscal Year 2024
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Record growth in 2024 with 301 new stores, 18%+ Q4 bookings growth, and doubled EBITDA. Adjusted net profit reached BRL 54 million, and free cash flow turned positive by BRL 185 million. 2025 outlook is strong, with continued expansion, tech investment, and improved leverage.
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Q3 2024 saw record store openings, double-digit B2C growth, and a return to net income after 20 quarters of losses. EBITDA rose 30% year-over-year, net debt was reduced, and operating cash generation matched 2019 levels, with strong outlook for continued growth and profitability.
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Q2 2024 saw record store openings, strong B2C growth, and a turnaround in profitability, with adjusted EBITDA reaching BRL 70.3 million and operating cash generation at an 18-quarter high. Market share gains, improved take rates, and continued expansion position the company for further growth.