Hospital Mater Dei (MATD3) Q2 2025 earnings summary

Executive summary

• Achieved record net revenue of BRL 546 million in Q2 2025, driven by improved procedure mix, operational productivity, and strong performance across all hubs, without adding new beds.

• Opened Mariana Medical Center in partnership with Vale, expanding regional presence and service accessibility.

• Maintained high occupancy rates, with mature units at 83% and operational rigor across nine units.

• Achieved reaccreditation for key hospital units (JCI and QMENTUM) and published the 2024 Sustainability Report, reinforcing ESG and quality commitments.

• Significant ramp-up and positive EBITDA in key units, notably Salvador and Nova Lima, with strong growth in surgeries and oncological cases.

Financial highlights

• Net revenue reached BRL 546 million, up 12% year-over-year, with average ticket per bed up 11%.

• EBITDA was BRL 150 million, up 32% year-over-year, with a margin of 21.1%, a 1.8pp increase from the previous quarter.

• Net profit for the quarter was BRL 27 million, with a net margin of 5%; adjusted net profit reached BRL 40 million, with net margin up to 8.2%.

• Costs of services provided were 69.8% of net revenue, a 1.4pp improvement year-over-year, and operational expenses diluted to 14.1% of revenue.

• Cash and equivalents stood at BRL 638 million, with net debt reduced to BRL 772 million and leverage at 1.6x.

Outlook and guidance

• Expect continued ramp-up in acquired and younger units, with further improvements in EBITDA and cash generation anticipated in the second half of 2025.

• Focus remains on cost control, revenue growth through higher complexity procedures, and leveraging digital strategies for billing and receivables.

• Debt maturities extended to 2031/2032, reinforcing long-term financial sustainability, with prepayment of BRL 200 million in debt under consideration.