Unifique Telecomunicações (FIQE3) investor relations material

Executive summary

• Q3 gross revenue rose 16.8% YoY to BRL 429.3M; net revenue was BRL 359.977M, up 17.56%. Adjusted EBITDA reached BRL 178.3M, up 11%, while net income was BRL 67.258M, up 3.74%.

• Subscriber growth, acquisitions and 5G expansion supported revenue; competition, slower broadband additions and mobile rollout costs pressured margins and investment.

Financial highlights

• Q3 gross profit was BRL 172.056M, up 6.48% YoY; gross margin fell 4.9 p.p. to 47.8%.

• Q3 EBIT rose 4.0% to BRL 90.8M; EBITDA increased 14.34% to BRL 178.311M, while adjusted EBITDA grew 11% to BRL 178.3M.

• Net income was BRL 67.258M, up 3.74%; net margin declined to 18.68% from 21.17%, and Q3 EPS was BRL 0.17284 versus BRL 0.18317.

• 9M net revenue was BRL 1,033.736M, up 19.91%; gross revenue rose 16.9% to BRL 1,234.6M. Adjusted EBITDA reached BRL 517.9M and net income BRL 165.2M.

• 9M net finance expense increased to BRL 42.498M from BRL 30.469M; Q3 financial expenses rose 74.2% YoY, primarily due to interest on debentures and loans.

Outlook and guidance

• 2026 broadband net adds were expected near 30,000 versus an initial 60,000 target; the 2027 target may be adjusted to ~45,000.

• Mobile EBITDA pressure may continue as ~600 sites are deployed in Q4; management expects some recovery in early 2027 as mobile sales and revenue grow.

• Further mobile obligations cover 30% of cities in 2027, falling to 10% in 2029; 5G and 700 MHz commitments run from 2026 to 2030.

• Management expects slight delinquency deterioration in 2027 amid macroeconomic stress, while targeting limited impact through collection efforts.

• Tax reform could raise the cited rate from 3.65% to nearly 11.3%, prompting a trade-off between absorbing margin pressure and raising customer prices.