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Grupo Multi (MLAS3) investor relations material

Grupo Multi Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary13 Nov, 2025

Executive summary

  • Net revenue reached R$1,069.5 million in 3Q25, up 15.0% from 2Q25 and 32.0% year-over-year, driven by the Corporate segment and improved profitability focus in retail segments.

  • EBITDA was R$67.5 million, up R$36.7 million from 2Q25 and R$63.3 million from 3Q24, with margin improvement to 6.3%.

  • Net income totaled R$65.6 million, reversing a loss of R$45.8 million in 2Q25 and up R$64.1 million from 3Q24.

  • Operational cash flow generation was R$131.7 million in the quarter, more than double 2Q25.

Financial highlights

  • Gross margin improved to 25.1%, up 0.2 p.p. from 2Q25 and 0.5 p.p. from 3Q24.

  • Gross profit reached R$268.1 million, up 16.0% from 2Q25 and 34.6% from 3Q24.

  • Leverage (Net Debt/EBITDA LTM) dropped to 0.22x from 2.10x in 2Q25 and 2.92x in 1Q25.

  • Net debt at quarter-end was R$30.8 million, with cash and equivalents of R$470.3 million.

  • R$145.0 million reduction in company debt during the quarter.

Outlook and guidance

  • Focus on operational efficiency, working capital optimization, expense control, and debt reduction.

  • Monetization strategies and funding from BNDES are planned for the second half of 2025, with a financing agreement for up to R$294.1 million to support innovation and digitalization.

  • Active portfolio management includes the sale of the pet hygiene mats business and a new exclusive partnership for Cuisinart products in Brazil.

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