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Vibra Energia (VBBR3) investor relations material
Vibra Energia Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved operating cash flow of R$3.5 billion, the best in seven years and up 77% year-over-year, driven by strong working capital management and operational efficiency.
Net debt reduced by R$2.3 billion quarter-over-quarter, with leverage dropping from 2.9x to 2.7x, targeting 2.5x by year-end.
Market share increased to 23.8%, with 117 new service stations added and a robust pipeline for further expansion.
Record lubricant volumes, 13% year-over-year growth, and creation of a dedicated business unit to accelerate growth in this segment.
Regulatory advances improved the competitive landscape, supporting market share gains and operational stability.
Financial highlights
Adjusted EBITDA reached R$1.8 billion, up 7% year-over-year in some segments but down 9% overall, with margin at R$177/m³.
Adjusted net income was R$546 million, up 11% quarter-over-quarter but down 87% year-over-year due to prior extraordinary tax effects.
Operating cash flow for the quarter was R$3.5 billion, reflecting strong supplier and inventory management.
ROIC for the quarter was 13.8%.
Adjusted net revenue reached R$48.6 billion, up 4.6% year-over-year.
Outlook and guidance
Expecting continued volume and margin growth in Q4, especially in Rio and São Paulo, with further efficiency gains in working capital.
Comerc's 2025 EBITDA guidance revised to R$1.05–1.6 billion, reflecting risk mitigation and gradual volume recovery.
Optimism for 2026, with regulatory improvements and robust branded station pipeline supporting future growth.
Investor Day scheduled for December 9, 2025, to present strategic updates.
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Next Vibra Energia earnings date
Investor Day 20259 Dec, 2025
Next Vibra Energia earnings date
Investor Day 20259 Dec, 2025
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Frequently asked questions
Vibra Energia S.A. is a Brazil-based company that specializes in the domestic distribution of oil products. Formerly operating as Petrobras Distribuidora SA, the company has diversified its operations across various segments. These include a Gasoline Stations Network, which operates a network of branded service stations that market petroleum-derived fuels, lubricants, natural gas for vehicles, biofuel, and convenience products. The Business-to-Business segment provides fuels, lubricants, and associated products and services to a wide range of clients including governments, transportation companies, thermal power plants, retail dealers, and other industrial and commercial customers. In the Aviation Market segment, Vibra Energia supplies aviation products and services to Brazilian airport facilities. Furthermore, the company is engaged in the Energy sector, focusing on the trade and distributed generation of energy, while the Corporate segment covers corporate financial management. The company is headquartered in Rio de Janeiro, Brazil, and its shares are listed on the São Paulo Stock Exchange.
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