Tegma Gestão Logística (TGMA3) Q1 2025 earnings summary

Executive summary

• Net revenue increased 13% year-over-year in Q1 2025, reaching R$440 million, driven by growth in both Automotive and Integrated Logistics divisions.

• Net income rose 17% year-over-year to R$44 million, with net margin improving by up to 0.3 percentage points.

• Free cash flow was positive at R$92 million, supported by operational performance and reduced accounts receivable.

• EBITDA margin remained stable or improved, despite M&A expenses and ramp-up costs.

• Return on invested capital (ROIC) remained high at 39.6%, stable quarter-on-quarter.

Financial highlights

• Gross revenue totaled R$545.1 million, up 12.8% year-over-year; net revenue was R$440.4 million, up 13.2%.

• EBITDA grew 15% to R$265 million, with a margin of 15.6%.

• Earnings per share increased 16.6% to R$0.7.

• Net cash position at March 2025 was R$229 million.

• CAPEX in Q1 2025 was R$10 million, mainly for IT and storage capacity expansion.

Outlook and guidance

• Management expects continued growth in vehicle sales and logistics volumes, supported by positive economic indicators.

• Expectations for GDL in 2025 remain positive, with warehousing and bonded services anticipated to perform well despite recent margin adjustments.

• Dividend payout remains above the minimum policy of 50% of adjusted net income.

• Forward-looking statements are subject to risks and actual results may differ materially.