Brazil · Delayed Price · Currency is BRL Vamos Locação de Caminhões, Máquinas e Equipamentos Earnings Call Transcripts
Fiscal Year 2026
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Net revenue and EBITDA reached record highs in 2Q 2026, driven by strong leasing and used asset sales, with net income up 22% year-over-year. Leverage and delinquency rates declined, while fleet utilization and sector diversification improved. Guidance for 2026 is reiterated.
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Net revenue grew 22% year-over-year to BRL 1.6 billion, with EBITDA up 7% and net income at BRL 87 million. Inventory and leverage declined, while used asset sales and leasing margins remained strong. 2026 guidance is reiterated, with continued focus on efficiency and deleveraging.
Fiscal Year 2025
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Revenue and EBITDA reached record highs in 2025, driven by higher utilization, strong used vehicle sales, and operational efficiency. 2026 guidance targets over 90% utilization, continued inventory reduction, and 9–20% revenue growth.
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Record fleet utilization and used vehicle sales drove 25% revenue growth, with net income impacted by higher costs and interest rates. Leverage improved to 3.3x net debt/EBITDA, and liquidity covers all debt until 2027. Margins are expected to normalize as inventory levels decline.
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Record used vehicle sales and strong lease revenue growth drove a 16.9% rise in net revenue, though EBITDA and net income declined due to higher depreciation and idle assets. Guidance was revised downward for new assets but raised for contract extensions and used vehicle sales, with a focus on improving utilization and reducing leverage.
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Net revenue rose 24% year-over-year to BRL 1.3 billion, driven by record used vehicle sales and improved fleet utilization. 2025 guidance is reaffirmed, with BRL 5 billion in CapEx and EBITDA projected at BRL 3.85–4.15 billion. Leverage and liquidity remain strong.
Fiscal Year 2024
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Delivered strong 2024 results with 57% higher adjusted net income and 32% EBITDA growth, driven by leasing and used vehicle sales. Focused on contract renewals, operational efficiency, and reduced capex, the company expects sustainable growth and deleveraging in 2025.
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Q3 2024 saw 33% revenue growth and 51% net income increase year-over-year, driven by strong rental and used asset sales. The company is prioritizing Seminovos expansion, higher fleet occupancy, and deleveraging, with 2025 CAPEX projected at BRL 5 billion.
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Adjusted EBITDA grew 31.6% and adjusted net profit nearly doubled year-over-year, driven by rental and used asset sales, despite non-recurring losses from floods and agribusiness downturn. Inventory and working capital optimization, stricter credit, and the Sempre Novo product are key focus areas for H2 2024.