Fleury (FLRY3) Q4 2024 earnings summary

Executive summary

• Achieved robust growth in 2024, driven by successful integration with Grupo Pardini and strategic acquisitions such as Grupo São Lucas and Confiance Medicina Diagnóstica, expanding geographic presence and operational synergies.

• Diversified revenue streams across B2C (67%), B2B (24%), Novo Zelos/New Links, and healthcare platforms, reinforcing market leadership and resilience.

• Continued innovation with integrated medical centers, digitalization, and AI initiatives, improving efficiency and customer experience.

• Nationwide reach with 528 patient service centers and over 8,000 Lab-to-Lab clients, supporting expansion in premium, intermediate, and basic segments.

• Grupo Fleury recognized for excellence in medical services and ESG practices.

Financial highlights

• Gross revenue in Q4 2024 reached R$1.99 billion (+8.7% YoY); full-year 2024 revenue was R$8.32 billion (+19.5%).

• EBITDA in Q4 2024 was R$405.5 million (+7.9%, 22% margin); full-year EBITDA was R$2.0 billion (+19.6%, 25.8% margin).

• Net income in Q4 2024 was R$84 million (+3.3%, 4.6% margin); full-year net income was R$616.2 million (+32%, 8% margin).

• Operating cash generation in 2024 was R$1.93 billion, with a 97.4% EBITDA cash conversion.

• CAPEX in 2024 totaled R$488.1 million (6.4% of revenues), with 47% invested in IT and digital initiatives.

Outlook and guidance

• Expect continued margin expansion through revenue growth, cost discipline, and efficiency programs, with further integration synergies from recent acquisitions.

• Ongoing digitalization and AI initiatives to drive productivity, customer satisfaction, and cost efficiency.

• No formal guidance, but anticipate maintaining CAPEX at 6-7% of revenues and stable G&A as a percentage of revenue.

• Confident in further market share gains and sustainable growth across all business lines.

• Strategic focus on expanding integrated medicine centers and healthcare platforms.