)
Hidrovias do Brasil (HBSA3) investor relations material
Hidrovias do Brasil Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record recurring Adjusted EBITDA of R$1,125 million in 2025, up 95% year-over-year, driven by operational recovery, normalized navigation, and portfolio optimization through the sale of the Coastal Navigation operation.
Total volume handled reached 17,860 thousand tons in 2025, a 22% increase over 2024, with strong growth in North and South Corridors.
Completed a capital increase and consolidated Ultrapar as controlling shareholder, supporting governance renewal and financial strengthening.
Implemented a new integrated operational management system and achieved a 56% reduction in lost-time injury frequency rate.
Record operating cash generation of R$1,055 million in 2025, more than doubling year-over-year.
Financial highlights
Net operating revenue for 2025 was R$2,465 million, up 41% year-over-year; 4Q25 revenue was R$509 million, up 92% from 4Q24.
Recurring Adjusted EBITDA margin expanded to 46% in 2025, a 13 p.p. increase over 2024.
Net loss for 2025 was R$141 million, a significant improvement from a loss of R$569 million in 2024, despite a R$248 million write-off from the Coastal Navigation sale.
Cash generation from operations reached R$1,055 million in 2025, the highest ever recorded.
Investments totaled R$379 million in 2025, mainly for maintenance and modular expansion projects.
Outlook and guidance
Management expects continued operational recovery, supported by normalized navigability, improved product mix, and ongoing modular expansion, especially in the North Corridor.
A more complicated start to 2026 is anticipated due to infrastructure works and operational bottlenecks, but a solution is expected by the next harvest.
Commissioning of the Cabria project is underway, with full operations expected by the end of Q1 2026.
Next Hidrovias do Brasil earnings date
Next Hidrovias do Brasil earnings date
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.
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.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
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.
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.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
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.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
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.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
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.
Explore our global coverage
)
)