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Grupo SBF (SBFG3) investor relations material
Grupo SBF Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic focus on retail and omnichannel initiatives drove growth in Centauro and Fisia, with strong sales and operational efficiency improvements.
Centauro delivered solid results, with net revenue up 16% year-over-year, strong footwear and digital channel performance, and Fisia's wholesale channel up 28%.
Store modernization and expansion continued, including new Centauro and Fisia stores, cost-effective refits, and enhanced omnichannel capabilities like in-store pickup.
Net revenue reached R$1.94 billion in 3Q25, up 9.4% year-over-year, with both business units contributing.
Multi-channel integration advanced, with 70% of exchanges/returns now in stores and new pilots for digital pickup and returns.
Financial highlights
Centauro's net revenue grew 16% year-over-year, with 13% growth in stores and 20% in digital; SSS up 15%.
Fisia's wholesale channel revenue increased 28% year-over-year, with overall net revenue up 9.2%.
Consolidated net income reached R$435.6 million in LTM25, up 12% from LTM24, with a net margin of 5.8%.
Adjusted EBITDA was R$169.0 million in 3Q25, down 16% year-over-year, with an 8.7% margin.
CAPEX totaled R$144.6 million, up 156.1% year-over-year, reflecting investments in new stores, refurbishments, technology, and logistics.
Outlook and guidance
Management expects continued operational and profitability improvements as strategic initiatives mature.
Tax incentives are expected to offset FX impacts in coming quarters, supporting net margin.
Inventory levels are positioned to support strong 4Q25 sales, with healthy turnover and improved demand forecasting.
Focus on capturing demand in upcoming quarters through team reinforcement and assortment optimization.
Anticipate tailwinds from major sports events and new soccer club sponsorships in 2025-2026.
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