Sequoia Logística e Transportes (SEQL3) Q1 2026 earnings summary

Executive summary

• Achieved significant deleveraging and positive impacts from restructuring, including homologation of the Extrajudicial Recovery Plan and successful negotiations with creditors and tax authorities.

• Preserved and grew core operations in bank object delivery and B2B logistics, while exiting unprofitable B2C e-commerce logistics.

• Initiated 2026 with reduced debt, improved liquidity, and regularized fiscal liabilities.

Financial highlights

• Consolidated EBITDA reached R$87 million in 2025; adjusted EBITDA margin improved to 3.6% in 4Q25 from -23.4% in 4Q24.

• Gross profit totaled R$40 million in 2025, up 161% year-over-year; gross margin improved to 7.6% in 4Q25.

• Net revenue for 2025 was R$592.9 million, a 36.3% decrease year-over-year, reflecting the exit from B2C and indoor logistics.

• Equity increased by R$741 million, driven by debt conversions and capital injections.

• Debt reduced by R$599 million through debenture conversions; net debt at year-end was R$280.1 million, down from R$751.7 million in 2024.

Outlook and guidance

• Focus on recurring EBITDA generation and cash flow, with continued payment of restructured obligations and legacy management.

• Positive impact expected in 2026 from the sale of the Mega Sorter Damon and exit from B2C logistics.