Santos Brasil Participações (STBP3) Q1 2025 earnings summary

Executive summary

• Achieved strong year-over-year growth in revenue, EBITDA, and net profit for Q1 2025, driven by higher container throughput and robust operational performance across key terminals.

• Container handling volumes at Tecon Santos rose over 15%, with a favorable mix of 78% full containers; Tecon Imbituba volumes up over 60%.

• Vehicle terminal volumes surged over 44% year over year, driven by export growth to Argentina.

• Maintained leadership in ESG, with continued inclusion in ISE-B3, improved CDP rating, and GPTW certification.

• CMA CGM Group acquired a 51% controlling stake, marking a new phase and triggering a public tender offer.

Financial highlights

• Net revenue reached R$898 million in Q1 2025, up 37% year over year.

• EBITDA grew 54% to R$496 million, with a margin of 56.1%, up over 6 percentage points.

• Net profit increased 34% to R$198.5 million, with a net margin of 22.5%.

• Operating costs increased 22% year over year; operating expenses rose 6%.

• Operating cash flow increased 46% year over year to R$292.8 million.

Outlook and guidance

• Expectation for continued strong performance, supported by contract renegotiations, client base diversification, and focus on asset expansion and modernization.

• CMA CGM Group to register a Tender Offer with CVM within 30 days post-acquisition.