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Rumo (RAIL3) investor relations material
Rumo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Transported volume reached a record 22.9 billion RTK in 4Q25, up 15% year-over-year, with full-year volume up 5%, driven by grains, sugar, and bauxite growth and operational efficiency.
Adjusted EBITDA for 4Q25 was BRL 1.8 billion, up 8% year-over-year, supported by cost control and operational improvements.
Major investments included 80% completion of the Mato Grosso Railway phase one, capacity upgrades, and safety enhancements.
Tactical price repositioning restored competitiveness, with a planned price reduction of just under 10% for Q1 2026.
Market share in grain exports through Santos was 65% in 4Q25 and 54% for the year, with recovery after commercial repositioning.
Financial highlights
Adjusted EBITDA for 4Q25 reached BRL 1.8 billion (+8% YoY), and BRL 8.0 billion for 2025 (+4% YoY), with margins of 54% and 58%, respectively.
Adjusted net income was BRL 441 million in 4Q25 and BRL 2.1 billion for 2025, both increasing year-over-year.
Net revenue for 4Q25 was BRL 3,819 million, up from BRL 3,463 million in 4Q24; full-year net revenue was BRL 13,848 million (-0.6% YoY).
Investments totaled BRL 1.5 billion in 4Q25 and BRL 6.1 billion in 2025, focused on maintenance and expansion.
Net financial expenses in Q4 were BRL 721 million, reflecting higher net debt and interest rates.
Outlook and guidance
Expecting a price reduction of just over 10% in Q1 2026 compared to Q1 2025, with stable prices anticipated for the remainder of the year.
CapEx for 2026 will be lower than 2025 but higher than 2024, focused on completing Mato Grosso phase one and ongoing maintenance.
2025 actuals were within guidance: transported volume 84.2bn RTK, EBITDA BRL 8,021mn, Capex BRL 6,112mn.
Soybean and corn production and exports in Brazil and Mato Grosso expected to remain robust through 2026, supporting rail demand.
Confident in delivering over 90 billion RTK in transported volumes and completing major projects as planned.
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