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Rumo (RAIL3) investor relations material
Rumo Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary17 Nov, 2025
Executive summary
Transported volume reached 23.4 billion RTK, up 8% year-over-year, led by strong Northern Operation performance and a 15% increase in Southern Operation, with growth in general cargo, hardwood pulp, bauxite, steel, and container operations.
Market share in grain exports through Santos fell 4 p.p. to 57%, and in Mato Grosso by 6 p.p. to 37%, due to increased competition and logistics flow redistribution.
Adjusted pricing strategy mid-year led to a 7% decrease in tariffs for the quarter, focusing on system profitability.
Fixed costs and expenses per 1,000 RTK decreased by 12% year-over-year, with energy efficiency improving by 2%.
Diversified cargo portfolio with consistent growth in fertilizers, pulp, sugar, bauxite, and higher value-added container products.
Financial highlights
Net revenue increased 2% year-over-year to R$3,819 million in 3Q25, driven by higher volumes despite lower average prices.
Adjusted EBITDA reached R$2,313 million, up 5% year-over-year, with a margin of 60.6%.
Adjusted net income was R$733 million, broadly in line with the previous year; reported net profit fell 39% to R$416 million due to non-recurring impairment charges.
Net financial expense was BRL 837 million, reflecting higher net debt and interest rates.
Insurance recoveries and indemnification income of BRL 55 million supported results.
Outlook and guidance
Soybean and corn production in Brazil is expected to grow in 2025/26, supporting continued high export volumes and logistics demand.
Expansion projects, especially in Mato Grosso, are progressing as planned, supporting future volume growth.
Guidance for year-end depends on strong volume execution in December, with some uncertainty due to timing of export demand.
Confident in meeting guidance, targeting close to the midpoint for volumes and mid-low point for EBITDA.
2026 expected to start with higher volumes and similar pricing levels to late 2025, with potential for price recovery as the year progresses.
Address grain export market share decline
Yield decline vs. variable cost increase impact
Mato Grosso railway extension ROI expectations
Rumo's pricing strategy for market share
Mato Grosso rail investment calibration
West network return: financial implications
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Frequently asked questions
Rumo S.A. is a logistics company based in Curitiba, Paraná, Brazil. It is the largest independent railway logistics operator in the country, managing a rail network of approximately 13,500 kilometers. Rumo provides rail transportation, port elevation, and warehousing services, focusing primarily on the transportation of agricultural commodities such as grains and sugar, as well as fuel and various industrial goods. The company's operations span the southern and midwestern regions of Brazil, including key transshipment terminals and port operations in Santos and Paraná. The company is headquartered in Curitiba, Paraná, and its shares are listed on the B3.
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