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Hypera (HYPE3) investor relations material
Hypera Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Sellout grew 5.5% year-over-year in Q2 2025, accelerating to 8–8.4% in May–July, outpacing the 5.2% market growth, driven by market recovery, new launches, and digital marketing.
Working capital optimization completed in April reduced receivable days from 116 to 60 and working capital investment to a record-low 32% of net revenue.
Board of Directors restructured with new and independent members; a new controlling block with 53% equity was formed to strengthen governance.
Net revenue for Q2 2025 was R$2,153.9 million, down 1.6% year-over-year, impacted by working capital optimization and lower non-retail sales.
Net income from continuing operations fell 13.4% year-over-year to R$426.1 million, mainly due to lower EBIT.
Financial highlights
Gross profit was R$1,295.1 million, with a gross margin of 60.1%, down 0.8 p.p. year-over-year due to product mix.
EBITDA from continuing operations was R$725.4 million, margin at 33.7%, down 0.8 p.p. year-over-year.
Operating cash flow was R$442.8 million, slightly above expectations but down from 2Q24; free cash flow was R$204.6 million, down 55.4%.
Net debt after hedge ended at R$7,614.6 million, or 2.6x annualized EBITDA.
EPS for the quarter was R$0.68, down 13.3% from 2Q24.
Outlook and guidance
Strong EBITDA-to-cash conversion expected in H2 2025 as lower working capital investment benefits are realized.
Sellout growth of 8% is expected to be maintained for the rest of 2025 and into 2026.
Continued focus on sustainable growth, operational profitability, and further efficiency in working capital and inventory management.
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