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Motiva Infraestrutura de Mobilidade (MOTV3) investor relations material
Motiva Infraestrutura de Mobilidade Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved record Adjusted EBITDA of R$2.5 billion, up 16.3% year-over-year, and Adjusted Net Income of R$683 million, a 22% increase, with margin expanding by 6.5 p.p.; strong execution on growth and efficiency initiatives.
Portfolio simplification, contract renegotiations (notably Motiva Pantanal), and major regulatory milestones (ViaQuatro 20-year and SPVias 73-day extensions) contributed to risk protection and cost efficiency.
Significant cost reduction initiatives led to an 11.4% decrease in adjusted cash cost, with cash Opex over net revenue improving to 38.3%.
Investments reached R$2.3 billion in the quarter, up 11.1%, supporting expansion and modernization projects across road, rail, and airport infrastructure.
Recognized among Brazil's top companies to work for, with improved S&P Corporate Sustainability Assessment Index score by 9 points.
Financial highlights
Adjusted EBITDA margin rose to 64.4% (+6.5 p.p. year-over-year), exceeding high single-digit growth targets.
Adjusted Net Revenue grew 4.6% year-over-year to R$3,957M, mainly from tariff adjustments and operational gains.
ROE improved to 18.0% (+6.6 p.p.), and ROIC to 11.0% (+4.3 p.p.) year-over-year.
Cash cost, adjusted to a recurring base, fell 11.4% versus Q3 2024.
Efficiency ratio (cash OpEx to net income) was 36.9% for the last nine months and 38.3% for the last 12 months.
Outlook and guidance
Efficiency ratio target of below 38% is expected to be achieved a year ahead of schedule, with a new ambition to reach 28% by 2035.
No critical bottlenecks are anticipated for CapEx execution; regulatory CapEx is expected to remain stable next year.
Strategic focus remains on premium assets in strategic geographies for future auctions and investments, with ongoing infrastructure and modernization projects.
Double-digit growth targeted for complementary revenues and R$1 billion cumulative social investment by 2035.
Commitment to zero-accident culture and LTIFR < 1 reaffirmed.
Future CapEx execution: any bottlenecks?
Beyond auctions, what contract amendment strategy?
Capital allocation post-airport divestment?
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Next Motiva Infraestrutura de Mobilidade earnings date
Q4 20256 Feb, 2026
Next Motiva Infraestrutura de Mobilidade earnings date
Q4 20256 Feb, 2026
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