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FERBASA (FESA4) investor relations material
FERBASA Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Main supplier of ferroalloys in Brazil and only producer of ferrochrome in the Americas reported 3Q25 results under Brazilian and international standards.
Net revenue in 3Q25 was R$542.6 million, down 15.2% sequentially, mainly due to lower sales volume and a weaker US dollar, but up 6.3% year-over-year for 9M25.
Operations span 18 municipalities in Bahia, with 4,800 jobs created and a vertically integrated production chain from mining to metallurgy and energy generation.
Financial highlights
Adjusted EBITDA for 3Q25 was R$50.8 million (margin 9.4%), down 24.9% sequentially; 9M25 EBITDA was R$179.5 million, a 41.1% drop year-over-year.
Consolidated net income reached R$46.0 million in 3Q25, up 146% from 2Q25, but 9M25 net income fell 55.9% year-over-year to R$88.9 million.
Net revenue for 3Q25 totaled R$542.6 million, a 15.2% decrease from 2Q25, reflecting lower sales volume and a weaker dollar.
COGS in 3Q25 was R$499.3 million, down 9.4% sequentially, but up 16.2% year-over-year for 9M25 due to higher sales volume and increased electricity and chrome ore costs.
Financial result for 3Q25 was stable at R$24 million, with financial expenses rising 19.5% due to ACC operations.
Outlook and guidance
Market caution persists due to global protectionist measures and trade barriers, especially in the US and EU.
U.S. protectionist tariffs have significantly impacted exports, especially ferrosilicon and ferrochrome, prompting efforts to diversify export destinations.
Announced R$213 million in dividends in October 2025, reflecting confidence in future cash flows.
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