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Santos Brasil Participações (STBP3) investor relations material
Santos Brasil Participações Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record operational and financial performance in 2025, driven by capacity expansion, productivity gains, and modernization across terminals.
Container throughput rose 8.1% YoY, with Tecon Santos handling 1.44 million containers (+9.2% YoY).
Net revenue reached R$3.63 billion (+25.0% YoY), EBITDA R$1.98 billion (+34.6% YoY), and net income R$871.7 million (+17.5% YoY).
Completed acquisition by CMA CGM Group, resulting in delisting from B3 and transition to Category B publicly-held company.
Financial highlights
Gross revenue: R$4.11 billion (+24.8% YoY); net revenue: R$3.63 billion (+25.0% YoY).
EBITDA margin improved to 54.5% (+3.9 p.p. YoY); net margin at 24.0%.
Operating costs increased 13.4% YoY, mainly due to personnel and maintenance for expanded capacity.
Cash flow from operations: R$1.63 billion (+16.3% YoY), with 82.5% EBITDA cash conversion.
Capex: R$646.5 million, focused on terminal expansion and modernization.
Outlook and guidance
Continued focus on maximizing value through asset expansion and modernization, especially at Tecon Santos (targeting 3.0 million TEUs by 2026).
Positive long-term sector outlook driven by containerization, economic openness, cabotage growth, and port infrastructure modernization.
Ongoing evaluation of M&A and new concession opportunities.
- Net revenue rose 37% and EBITDA 54% YoY, with CMA CGM acquiring a 51% controlling stake.STBP3
Q1 202515 Jul 2026 - 3Q25 saw record revenue and EBITDA, with CMA CGM acquiring over 95% ownership.STBP3
Q3 202515 Jul 2026 - Net revenue up 36%, EBITDA up 46.9%, 100% payout, and CMA CGM deal pending approval.STBP3
Q4 202415 Jul 2026 - Net income rose 82% in Q2 2024, with strong revenue, margin, and container volume growth.STBP3
Q2 202415 Jul 2026 - Revenue and EBITDA surged YoY as CMA CGM took control and operational expansion accelerated.STBP3
Q2 20257 Jul 2026 - Net revenue up 43.2% YoY, EBITDA up 57.7%, and net income up 55.5% in 3Q24.STBP3
Q3 20243 Jul 2026
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