Good afternoon, everyone, and thank you for waiting. Welcome to the earnings webinar of LPS Brasil to discuss the results for the second quarter of 2025. This event is being recorded, and all participants will be only listening to the webinar during the presentation of LPS Brasil.
Then we'll start the Q&A session, in which participants will be able to share their questions through the Q&A platform using one of the buttons below, according to the instructions on the screen. For those who wish to follow the webinar in English, it's possible to listen to the simultaneous translation by clicking on the button that's also identified below. The link for the presentation in English is available in the chat.
Before proceeding, I would like to clarify that any statements that may be made during this webinar regarding the business prospects of LPS, projections, operating and financial goals, constitute the beliefs and assumptions of the company's management. Forward-looking statements are not a guarantee of performance and involve risks, uncertainties, and assumptions, as they refer to future events and therefore depend on circumstances that may or may not occur.
Investors and analysts should understand that general conditions, industry conditions, and other operating factors may affect the future results of the company and could lead to results that differ materially from those expressed in such forward-looking statements. First, I'll turn the floor to Mr. Cyro Naufel to start the conference. Mr. Cyro, you may begin.
Good afternoon, everyone. I would like to thank you for attending one more conference of LPS Brasil. We will present the results for 2025.
We'll have Francisco Lopes Neto, our VP, and our CFO, Robson Paim. Before starting the presentation, I would like to share a message from our CEO, Marcos Lopes. Good afternoon, everyone. I would like to thank you for participating in one more conference call of LPS Brasil, in which we'll present the results for the second quarter of 2025. In this second quarter, the Brazilian real estate market remained booming, with emphasis on high-end properties and those covered by Minha Casa, Minha Vida housing program.
Despite the positive demand scenario, the volume of real estate financing declined during the period, according to data from ABECIP. This decline is directly related to the reduced availability of funding, which limited the capacity to grant credit, a movement that occurs in a macroeconomic context marked by high interest rates.
Recently, the scenario has become even more complex due to the trade policies adopted by United States, which may have an impact on the domestic economy of Brazil. The company remains attentive to economic developments and credit conditions, focusing on preserving its financial performance and anticipating strategic adjustments that ensure the sustainability of results.
I will now hand the floor over to Cyro, who will begin a more detailed presentation of the quarter's results. Thank you.
Starting the presentation. We'll start with the highlights on slide number four. The total transactions closed totaled BRL 3.2 billion in the second quarter of 2025, which is 7% lower than the same period of 2024. CrediPronto ended the quarter with BRL 17.4 billion in the end of the second quarter, and the funded volume was BRL 855 million, stable when compared to the previous same period of 2024.
Net revenue for the company amounted to BRL 51.2 million in the second quarter of 2025, 13% higher than the second quarter of 2024. The EBITDA of the company reached BRL 19.6 million in the second quarter of 2025, 12% higher than the same period of last year. In the quarter, the EBITDA margin was 38.5%.
The net income of the controlling shareholder ex-IFRS increased by 63% in the second quarter of 2025, totaling BRL 11.3 million when compared to the second quarter of 2025. Moving on to slide five, we see Lopes launches. They total BRL 4.9 billion in the period, 14% less when compared to the second quarter of 2024. Operations in São Paulo had the highest volume of launches, while in Rio de Janeiro launched BRL 1.1 billion. On the map on the side, we see the states whose operations had launches in the first half of the year.
On slide number six, we see Lopes intermediation results. Lopes intermediated BRL 3.2 billion in the second quarter of 2025, 7% less year-on-year. Currently, the company is present in 19 states with a total of 171 stores. On slide seven, we see Lopes intermediation by geographic region of Brazil. The state of São Paulo intermediated 33% of the volume, totaling BRL 1.4 billion, followed by Rio de Janeiro with 29% and BRL 1.1 billion.
The other regions added amounted for 34% of BRL 1.3 billion, with highlights of the operations of Paraná and Ceará, in which two plots of land were intermediated. On slide eight, we see the division of intermediation between primary and secondary markets. The primary market accounts for most of the company's intermediations, 65% of the GSV intermediated in the quarter, and 72% of the units sold. The average ticket in the secondary was BRL 656,000.
Moving to slide number nine, we see the indicators regarding Lopes Labs. First, we see the organic visits to the portal, 10.4 million visits in the last 12 months viewed. The leads from organic search generated by Lopes portal totaled 169,000 in the last 12 months. These were my comments about operational results, and now I turn the floor to Francisco, who will talk about CrediPronto. Then we'll talk about the financial results of the company later.
Thank you, Cyro. Good morning, everyone. It's a pleasure to be here again presenting the results of CrediPronto in this conference call for the results of the second quarter of 2025. On slide 10, it's interesting to note the volume of originated volume in the first half, BRL 2.139 billion, whereas the total last year was BRL 4 billion.
This was a positive six months, and we maintained the operations very efficient and trying to have a good penetration in the market to improve the results that the company seeks. In order to improve results, we have grown our portfolio by BRL 630 million in the quarter. If we compare to how it ended in 2024, t his continuous growth is very important because that is what will generate the profit-sharing results, which will enable us to have revenues from bank correspondence and the profit itself.
We see on page 11 that the total revenue in the second quarter of BRL 21.6 million, which is composed of BRL 8.9 million of origination revenue from banking correspondents and commissions, and BRL 12.6 million. It's a significant figure of profit-sharing in the second quarter of 2025.
The highlights are shown on the same slide, and we see the volume of new contracts signed that has grown. The demand has been very interesting because the market is seeking credit because it's a very efficient, consolidated solution, well-regulated both in terms of getting back the property in case it's needed, and as well as legal certainty.
We're going through a very good moment in terms of operations and credit structure. It's always good to bear in mind that it's likely to be the most important part, the efficient property funding in real estate credit that Brazil has that allows us to make so many launches. On page 12, we provide more details about this profit-sharing composition, showing more stability.
I won't say that this will remain completely stable all the time, but it shows that at this level of BRL 4 million, as we see here for four months in a row. We are already reporting the profit for June, but the months to be included in this quarters are March, April, and May. June is already at BRL 4.2 million.
This is the information I had to share with you for CrediPronto. The growth is within what's expected for the industry. It's a very good brand, and it has been very efficient in providing credit in a seamless journey that is praised by our partners and customers. Thank you all very much, and we hope to see you all again in the next conference call. I turn the floor back to Cyro Naufel to continue the presentation.
Thank you, Francisco.
Now, let's talk about the financial results of the company. Starting on slide number 13, we see that the net revenue in the second quarter of 2025 was BRL 51.2 million, 13% above the second quarter of 2024. While for the first half of 2025, it reached BRL 99.5 million, 20% above the same period in 2024. Slide 14, we see the operating expenses increased by 14% when comparing the second quarter of 2025 and second quarter of 2024, reaching BRL 20.4 million, BRL 31.6 million was operating expenses were BRL 66.9 million, which is 29% above the first half of 2024.
Most of that was due to transfer to banking correspondent due to the higher volume funded by CrediPronto in the quarter. On slide 15, we see EBITDA margin, BRL 65 million and 31.5% in the second quarter of 2025 in LTM view, maintaining the company's focus on our operational efficiency.
On slide 16, we see the result of the second quarter by segment. Before IFRS effects, we see the gross profit and the profit attributed to shareholders of BRL 11.3 million. On slide 17, we see consolidated results regarding the first half of 2025 also by segment. In that column, we see the net income before IFRS of BRL 20.2 million, whereas attributed BRL 17 million.
On slide 18, we see the impacts of IFRS impacts on the company's results, and they refer to repayment of intangible assets, gains and losses within cash and not effect. The IFRS effects are non-cash effects. For a better understanding of the company's performance, I suggest you do not take into account such effects. Finally, on slide 19, we can see the development of the cash flow of the company and cash equivalents.
In the second quarter, we generated BRL 12.4 million in cash and cash equivalents balance reached BRL 50.4 million, which together with financial investments amounts to BRL 70.6 million. This is the information we had to share. We remain available for any questions you may have.
We will now start the Q&A session. To ask a question, please use the Q&A platform according to the icons on the bottom of the screen. Please hold while we collect the questions. We are starting to receive some questions. The first is, what are the reasons for closing 14 stores in the last two quarters and what are the prospects for future growth?
The basic reason is the focus of the company for greater operational efficiency and a performance adjustment in the network stores. The focus is not on the number of brokers or real estate stores, but rather how well they work.
That is what causes us to constantly review the franchises. The second is the improvement in the margins of the first quarter 2025. Is it due to when compared to the first quarter 2025 or due to some seasonality? No, they are due to a better results of CrediPronto, as well as to the fact that we always seek better efficiency in costs of the company. These are the reasons for the improved results.
We would like to thank you all for your presence in attending one more conference call for LPS Brasil. I reinforce the company's effort to always reduce costs and improve the operation, and we hope you can all attend the next webinar. Thank you all very much and have a good day.
The LPS earnings conference call for the second quarter 2025 has now ended. Thank you all, and have a good afternoon.