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Grupo Mateus (GMAT3) investor relations material

Grupo Mateus 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 summary14 Nov, 2025

Executive summary

  • The merger with Novo Atacarejo expanded presence to three new states, raising market share to 37.7% in Pernambuco, Paraíba, and Alagoas, and increased the store network to 306 locations, serving over 47,000 clients monthly across more than 1,800 cities.

  • Opened 13 new stores in the quarter, with 4 more in October, 15 construction projects underway, and 22 new stores planned for 2025.

  • Same-store sales (SSS) excluding electronics and Novo Atacarejo rose 4.3% in 3Q25, while electronics segment was downsized due to macroeconomic headwinds.

Financial highlights

  • Gross revenue for 3Q25 was BRL 12.1 billion, up 28.3% year-over-year; 9M25 net revenue reached BRL 27.9 billion (+19.3% YoY).

  • Gross profit for 3Q25 (excluding extraordinary effects) was BRL 2.2 billion (+16.0% YoY), with a gross margin of 23.2%.

  • EBITDA for 3Q25 (excluding extraordinary effects) was BRL 744 million (+14.8% YoY), margin 8.0%; net income (excluding extraordinary effects) was BRL 471 million (+37.3% YoY), net margin 5.1%.

  • Net income for the first nine months of 2025 was BRL 1.246 billion, up 28% year-over-year.

  • Operating expenses were 15.2% of net revenue for the quarter; accumulated expenses for the year grew 19.5%.

Outlook and guidance

  • Expansion strategy remains focused on selective, high-return stores, with about 30 new stores targeted for 2026 and 22 planned for 2025, balancing between cash and carry and retail formats.

  • Emphasis on innovation, specialization, and adapting to changing consumer behavior, including new foodservice and premium service store formats.

  • Portfolio optimization continues, with electronics segment downsizing due to macroeconomic headwinds.

Assurance on future stock valuation accuracy
How will supplier payment terms be equalized?
Expansion strategy given market and new formats
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Frequently asked questions

Grupo Mateus S.A. is a diversified retailer based in Brazil, operating under various brand names across multiple business lines. The company's operations include supermarkets, wholesale self-service stores, appliance and furniture retailing, and e-commerce platforms. It serves a broad range of market segments through its retail chains, such as Mateus Supermercados and Hiper Mateus, and wholesale operations under the Mix Atacarejo and Armazem Mateus brands. The company is headquartered in São Luís, Maranhão, Brazil, and its shares are listed on the BOVESPA.

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