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Marcopolo (POMO4) investor relations material

Marcopolo Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary31 Oct, 2025

Executive summary

  • Net revenue grew 8.2% year-over-year to BRL 2,505.4 million in Q3 2025, driven by strong international operations and exports, offsetting domestic market weakness.

  • Net income reached BRL 329.6 million, down 1.8% year-over-year, with a margin of 13.2%, and ROIC stable at 25%.

  • International markets, especially Argentina, Australia, and South Africa, were key contributors, with external markets accounting for about 50% of net revenue.

  • International operations delivered strong results, offsetting domestic market declines.

  • Total production was stable at 4,127 units, with a 5.1% drop in Brazil offset by 26.2% growth abroad.

Financial highlights

  • Consolidated net revenue for Q3 2025 was BRL 2,505.4 million, up 8.2% year-over-year; gross profit increased 15.9% to BRL 668.7 million.

  • Gross margin reached a record 26.7%, up 1.8 percentage points year-over-year, driven by operational leverage and efficiency gains.

  • EBITDA was BRL 419.8 million (16.8% margin), negatively impacted by a non-recurring BRL 71.3 million impairment at a Canadian affiliate; adjusted EBITDA was BRL 491.1 million (19.6% margin), up 14.3%.

  • Net margin was 13.2%, down 1.3 percentage points from Q3 2024.

  • Cash and equivalents rose to BRL 1,993.9 million at quarter-end.

Outlook and guidance

  • Order book for Q4 2025 remains strong, especially for coach and city buses, with expectations of maintaining production volumes.

  • Backlog visibility extends to February, covering 3–3.5 months of production across all segments.

  • Refrota program and government initiatives anticipated to boost city bus demand in early 2026.

  • International operations, efficiency, and alternative propulsion are key growth drivers for 2026.

  • Limited visibility for 2026 due to seasonality and collective vacations in the European market.

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