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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.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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