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Tegma Gestão Logística (TGMA3) investor relations material
Tegma Gestão Logística Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Net revenue in Q3 2025 rose 5% year-on-year to R$634 million, driven by higher average delivery distances, tariff adjustments, and growth in used vehicle logistics, while net income fell 5% to R$80 million with a net margin of 12.6%.
Automotive Logistics Division net revenue grew 7% year-on-year, aided by increased average distance and tariff adjustments, but EBITDA margin declined due to higher taxes and costs.
Integrated Logistics Division net revenue fell 18% year-on-year due to lower volumes and contract losses, with EBITDA margin dropping to 14%.
GDL joint venture net revenue rose 9% year-on-year, but margins declined due to extraordinary rental cost increases.
Interim dividends and interest on equity totaling R$63.9 million (80% payout) will be paid, with a dividend yield of 8.2% over the last 12 months.
Financial highlights
EBITDA in Q3 2025 was R$116.8 million, margin at 18.4%, down 2.4 p.p. year-on-year due to margin declines and higher administrative expenses.
Free cash flow in Q3 2025 was R$15 million, lower than Q3 2024 due to higher CapEx and advance land payment.
Net cash position at end of September was R$160 million, reflecting strong liquidity.
ROIC was 37.1% and ROE was 28.6% in Q3 2025, both down from the previous quarter.
Net debt/EBITDA ratio not applicable due to net cash position.
Outlook and guidance
New contracts with OMODA&JAECOO and strategic land acquisition in Bahia are expected to support future market share and revenue growth.
Growth in the north and northeast regions is expected to continue in Q4, positively impacting margins.
Toyota's production halt is expected to negatively affect volumes in the coming months.
GDL will focus on diversification and new entrants to offset slower imported vehicle sales.
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Next Tegma Gestão Logística earnings date
Q4 202510 Mar, 2026
Next Tegma Gestão Logística earnings date
Q4 202510 Mar, 2026
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