Brazil · Delayed Price · Currency is BRL Grupo Mateus Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 20% year-over-year to BRL 43.6 billion in 2025, with strong market share gains in the Northeast. Despite macroeconomic headwinds and pressured margins, disciplined expense control, productivity initiatives, and improved cash cycle supported resilient profitability.
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Gross revenue rose 28.3% year-over-year to BRL 12.1 billion, with EBITDA up 32% and net income for the first nine months reaching BRL 1.246 billion. The merger with Novo Atacarejo expanded market share and operational scale, while inventory and accounting revisions improved governance.
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Net revenue grew 14.9% year-over-year in Q2 2025, with EBITDA reaching a record BRL 705 million and a margin of 8%. Cash conversion cycle improved to 72 days, and integration of Novum is expected to drive further efficiencies in the coming quarters.
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Net revenue grew 12.9% to BRL 8.3 billion, with gross margin up to 23% and EBITDA rising 27%. Expansion focused on store density and margin, while working capital and supplier terms improved. ROIC for new stores stabilizes at 25%, with legacy stores above 30%.
Fiscal Year 2024
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EBITDA grew 26% to BRL 2.5 billion with margin expansion, while net income reached BRL 1,385 million despite tax and inflation pressures. Expansion in the Northeast drove sales and margin gains, and leverage remained low at 0.29x EBITDA.
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Q3 saw 20% revenue growth and 7.3% same-store sales increase, driven by expansion and a successful anniversary campaign. Gross margin improved to 22.7%, EBITDA margin reached 8.2%, and net income rose 20% year-over-year. Over 50 stores are expected by year-end, with continued focus on operational efficiency and market share gains.
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Q2 2024 saw double-digit revenue and net income growth, with strong same-store and wholesale performance, stable margins, and improved cash cycle. Expansion in key regions drove market share gains, while disciplined capital allocation and cost control supported profitability.