Hospital Mater Dei (MATD3) Q3 2025 earnings summary

Executive summary

• Achieved record net revenue and EBITDA in Q3 2025, with strong operational cash generation and net debt reduction.

• Notable advancements in robotic-assisted surgeries and CAR-T cell therapy, with major investments in innovation.

• Recognition for hospital quality, patient satisfaction, and highest network-wide NPS in 2025.

• Strategic focus on oncology, surgical production, and revenue beyond bed fees contributed to growth.

• Operational efficiency improved with occupancy rates above 81%, supporting cost dilution and margin expansion.

Financial highlights

• Net revenue reached up to BRL 570 million in Q3 2025, up as much as 16.3% year-over-year; average ticket per bed increased by 11%.

• Adjusted EBITDA rose to BRL 126 million, up 39% year-over-year, with a margin of 22.2%.

• Recurring net income was BRL 35 million, with adjusted net profit up to BRL 40 million and net margin of 8.2%.

• Costs remained below 70% of revenue, with personnel and medical services costs reduced as a percentage of revenue.

• Cash flow from operations was BRL 134 million, with 88% EBITDA-to-cash conversion over nine months.

Outlook and guidance

• Optimism for continued growth, especially in units that underwent turnarounds and integration.

• Expectation of further margin improvements through operational efficiencies and AI-driven process enhancements.

• Continued investment in advanced medical technologies, robotic surgery, and specialty mix to drive future growth.