Hospital Mater Dei (MATD3) investor relations material

Executive summary

• Achieved record net revenue of R$575 million in Q1 2026, up 15.1% year-over-year, driven by higher occupancy, improved ticket mix, and operational efficiency despite seasonal headwinds.

• Adjusted EBITDA reached R$130 million, up 34.6%–35% year-over-year, with margin expanding 3.3 percentage points to 22.6%.

• Net income grew 66.7%–80% year-over-year to R$36.3 million, with a margin of 6.3%.

• Record occupancy rate of 84.3%, up 4.6 percentage points year-over-year, and operational beds remained stable.

• Fitch and Moody's reaffirmed AA/AA+ ratings, reflecting strong cash generation and financial discipline.

Financial highlights

• Net revenue for Q1 2026 was R$575 million, up 15.1% year-over-year.

• Average ticket per bed rose 8.4% year-over-year to R$2.86 million.

• Adjusted EBITDA margin improved to 22.6%, up 3.3 percentage points year-over-year.

• Gross margin was 30.2%, with costs at 69.8% of revenue, down 1.4 percentage points year-over-year.

• Adjusted net profit margin reached 6.3% in Q1 2026.

Outlook and guidance

• Management projects continued positive cash generation, margin maintenance, and gradual maturation of hospital assets.

• Focus remains on deleveraging, disciplined capital allocation, and selective M&A as financial position strengthens.

• Plans to open new hospital beds in coming quarters, maintaining occupancy above 80%.