Marcopolo (POMO4) investor relations material

Executive summary

• Achieved consolidated net revenue of R$9.06 billion in 2025, up 5.4% year-over-year, with net profit of R$1.24 billion and gross margin of 25.6%.

• International operations drove growth, with export revenue up 31.1% and international operation revenue up 32.3% year-over-year, offsetting domestic revenue decline of 9.7%.

• Fourth quarter 2025 net revenue was R$2.57 billion, with coach bus and electric bus segments leading, and exports as a key highlight.

• Record dividend distribution in 2025, with a payout ratio of 94.9% and dividend yield of 15.7%.

• Strong cash generation and robust order backlog, especially in government procurement and electric buses.

Financial highlights

• Q4 2025 gross profit was R$668.1 million (26.0% margin), EBITDA was R$426 million (16.6% margin), and net profit was R$341.7 million (13.3% margin), all showing margin improvements year-over-year.

• EBITDA for 2025 was R$1.51 billion, down 7.3% year-over-year, impacted by a non-recurring loss from the Canadian subsidiary New Flyer; adjusted EBITDA would have been higher.

• Earnings per share for 2025 were R$0.996.

• Net financial result turned positive at R$32.8 million in Q4 2025.

• Investments in fixed assets totaled R$84.5 million in Q4 2025.

Outlook and guidance

• Expecting recovery in coach bus deliveries and domestic market in H2 2026 as financing costs decrease.

• City bus and electric vehicle segments projected to continue growth, supported by fleet renewal and lower interest rates.

• International operations, especially in Australia and China, are expected to maintain positive momentum.

• Strong order backlog from government programs and new tenders supports 2026 volume expectations.

• Cautious outlook for Mexico due to tariff uncertainties with the U.S.