Brazil · Delayed Price · Currency is BRL Hypera Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 87% revenue growth and 9.5% sell-out increase, driven by new launches and logistics gains. Net debt fell 20% after a BRL 1.5B capital increase, with leverage at 2.2x EBITDA. Outlook remains strong with further launches and market share gains expected.
Fiscal Year 2025
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Sellout grew 6.8% in 2025, with net revenue up 3.4% and record operating cash flow after working capital optimization. Entering 2026, the company expects further efficiency gains, strong cash flow, and growth from new launches, especially semaglutide, pending regulatory approval.
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Net revenue rose 16% year-over-year to BRL 2.2 billion, with EBITDA margin at 34% and record operational cash flow. Retail outperformed the market, while institutional sales declined; strong pipeline and new launches are expected to drive future growth.
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Sell-out grew 5.5% in Q2 2025, outpacing the market, with strong acceleration in May–July. Working capital optimization improved efficiency and margins, while net revenue reached R$2.2 billion and EBITDA margin was 33.7%. Focus remains on deleveraging and sustainable growth.
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Sell-out grew 7% in Q1 2025, but net revenue fell 41% due to working capital optimization, resulting in negative EBITDA and net earnings. Operational cash flow hit a record, and margins are expected to normalize from Q2 as new product launches and efficiency measures take effect.
Fiscal Year 2024
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Sell-out grew 9% in 2024, but net revenue fell 6% due to working capital optimization, with margins and net income also down. Over 50 new products were launched, and significant investments were made in marketing, R&D, and capacity. Margin recovery and normalized operations are expected in H2 2024.
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Sell-out growth accelerated to 11% in Q3 2024, driven by flu and seasonal products, while working capital optimization reduced revenue and income but boosted free cash flow by 23%. Market share gains, strong innovation, and digital marketing investments support future growth.
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A new working capital strategy aims to boost cash generation by BRL 2.5 billion by 2028 and BRL 7.5 billion over ten years, with a gradual reduction in receivables and inventories. Short-term financial impacts are expected, but operational efficiency and shareholder value are set to improve from 2026.
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Q2 2024 saw 6.3% sell-out growth, record cash flow, and strong performance in chronic treatments, offsetting weak influenza sales. Guidance for 2024 is reaffirmed, with H2 expected to benefit from market recovery and new product launches.