)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
Azzas 2154 (AZZA3) investor relations material
Azzas 2154 Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Consolidated recurring gross revenue from continuing operations reached BRL 3.72 billion in 3Q25, up 4.4% year-over-year, with recurring EBITDA at BRL 476.7 million and a margin of 16.1% (+0.4 p.p.).
Recurring net income grew 22.9% year-over-year to BRL 201.3 million, reflecting improved expense control and margin expansion.
Fashion Women, led by Farm Global's 41% growth, and Fashion Men units were operational highlights, while Shoes & Bags faced a challenging quarter due to Vans' global downturn.
The group continued to advance integration, unifying Fashion Women and Men under single leadership to capture synergies and operational gains.
Basic BU (Hering) began a transformation cycle with new leadership and operational restructuring, focusing on franchise model review, product mix repositioning, and working capital optimization.
Financial highlights
3Q25 recurring gross revenue (continuing brands): BRL 3.71 billion (+4.4% vs. 3Q24); recurring EBITDA: BRL 476.7 million (flat vs. 3Q24); recurring net income: BRL 201.3 million (+22.9% vs. 3Q24).
9M25 recurring gross revenue (continuing brands): BRL 10.58 billion (+9.8% vs. 9M24); recurring EBITDA: BRL 1.44 billion (+9.5% vs. 9M24); recurring net income: BRL 602.7 million (+42.9% vs. 9M24).
Gross margin in 3Q25 was 54.7% (+0.3 p.p. vs. 3Q24); recurring EBITDA margin was 16.1% (+0.4 p.p. vs. 3Q24).
Net debt at quarter-end was BRL 2.29 billion, with leverage at 1.37x Net Debt/LTM Recurring EBITDA (pre-IFRS-16); would be 1.27x excluding share buyback.
Operating cash generation for the quarter was BRL 275.9 million; after CAPEX, BRL 166.8 million.
Outlook and guidance
Strategic focus on integration, efficiency, and margin improvement continues, with ongoing leadership transitions in Shoes & Bags and Basic units to drive profitability and long-term value.
Basic BU (Hering) is undergoing a turnaround with new leadership, focusing on franchise model review, product mix repositioning, industrial efficiency, and working capital optimization.
Anticipate healthy same-store sales growth in high single digits for owned stores and continued focus on gross margin over top-line growth.
Inventory and working capital efficiency are top priorities, aiming to reach leverage levels similar to last year.
Focus on disciplined commercial execution, cost control, and strengthening brand positions.
Hering's commercial cycle transformation details
Shoes & Bags: franchisee inventory rebalancing
How is capital allocation impacting leverage?
Hering turnaround: When will financial results stabilize?
How is capital allocation prioritized across BUs?
What's the strategy to optimize inventory days?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Azzas 2154 earnings date
Q4 20256 Mar, 2026
Next Azzas 2154 earnings date
Q4 20256 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage