Technos (TECN3) Q4 2024 earnings summary

Executive summary

• Net revenue reached R$400.3M in 2024, up 16.9% year-over-year and 23.6% in 4Q24, driven by higher sales volume and stable prices.

• Gross profit increased 20.2% in 4Q24 to R$75.1M; full-year gross profit was R$218.9M, up 15.6%.

• Adjusted EBITDA for 2024 was R$93.2M (+7.4% YoY); 4Q24 EBITDA was R$36.7M (+8.8%), with margin at 26.7%.

• Net income for 2024 was R$64.8M, a 15.3% increase year-over-year; Q4 net income rose 3.5%.

• Technos celebrated its 100th anniversary, reinforcing its legacy and commitment to innovation.

Financial highlights

• Gross revenue for 2024 was R$464.3M (+17.3% YoY); 4Q24 gross revenue was R$159.9M (+24.7% YoY).

• Gross margin for 2024 was 54.7%, down 0.6 p.p. year-over-year, mainly due to exchange rate increases.

• SG&A expenses rose 12.4% to R$146.1M in 2024; Q4 SG&A up 14.5% to R$41.0M.

• Net financial result was positive at R$18.3M, supported by higher present value adjustment revenue and lower FX/hedging expenses.

• Interim dividends of R$15.0M were paid in January 2025, yielding 4.36%.

Segment performance

• Sales volume in 2024 reached 2.18M units (+17.9% YoY); 4Q24 volume was 687,000 units (+24.7% YoY).

• Average price per product remained stable at R$213 for the year and R$233 in 4Q24.

• Selling expenses rose 20.8% to R$23.1M in 4Q24, representing 18.9% of net revenue.

• Administrative expenses were R$10.5M in 4Q24, 7.7% of net revenue.