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Marcopolo (POMO4) investor relations material

Marcopolo Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary31 Oct, 2025

Executive summary

  • Net revenue grew 8.2% year-over-year to BRL 2,505.4 million in Q3 2025, driven by strong international operations and exports, offsetting a domestic market slowdown.

  • Net income reached BRL 329.6 million, down 1.8% year-over-year, with ROIC stable at 25%.

  • International operations and exports offset an 8% drop in domestic production, with external markets accounting for about 50% of net revenue.

  • International revenue grew 51.3% and exports from Brazil rose 43.1% year-over-year.

  • Total production was stable at 4,127 units, with a 5.1% drop in Brazil offset by 26.2% growth abroad.

Financial highlights

  • Consolidated net revenue was BRL 2.5 billion in Q3 2025, up 8.2% year-over-year.

  • Gross profit reached BRL 668.7 million, with a record gross margin of 26.7%.

  • EBITDA was BRL 419.8 million (16.8% margin), impacted by non-recurring losses; adjusted EBITDA was BRL 491.1 million (19.6% margin), up 14.3%.

  • Net profit was BRL 329.6 million (13.2% margin), slightly down from Q3 2024.

  • Cash and equivalents rose to BRL 1,993.9 million at quarter-end.

Outlook and guidance

  • Order book for Q4 2025 remains strong, especially for coach and city buses, with expectations of maintaining production volumes.

  • International operations, especially in Australia, Argentina, Chile, and Peru, expected to remain strong into 2026.

  • Certification for Paradiso models in Europe underway, with first deliveries expected in late 2026 or early 2027.

  • Refrota program anticipated to boost city bus demand in early 2026.

  • High interest rates in Brazil continue to impact fleet renewal; improvement expected as rates decline.

New Flyer impairment: ADL's competitive strategy
Domestic market: fleet renewal drivers for 2026?
Gross margin: drivers for sustained profitability?
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