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Vivara Participações (VIVA3) investor relations material
Vivara Participações Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record third-quarter revenue, gross margin, EBITDA margin, and operating cash generation, marking the best Q3 in company history, with gross revenue up 15.5% and net income rising 64.1% year-over-year to R$175.9 million.
Successfully implemented structural initiatives, including a new distribution center and improved supplier negotiations, driving sustainable margin expansion.
Market share in Brazilian jewelry increased to 23.2%, up 5.0 p.p. from 3Q24.
Financial highlights
Gross revenue reached R$805.4 million, up 15.5% vs. 3Q24; net revenue was R$664.5 million, up 18.0%.
Adjusted EBITDA was R$174.5 million, up 37.0% year-over-year, with margin at 26.3% (+364 bps YoY).
Gross margin expanded to 71.4%, up 444 bps year-over-year.
Inventory increased by BRL 120 million, with half attributed to gold purchases and the remainder to seasonality and preparation for year-end sales.
Digital sales grew 11.6% year-over-year, representing 13.9% of total sales.
Outlook and guidance
Expect continued optimization of inventory and gross margin, with further reductions in days of stock throughout next year.
Price pass-throughs for gold and silver will be gradual, leveraging current inventory to avoid aggressive increases.
Plans to accelerate store openings in 2026, especially for the Life brand, with marginal impact on SG&A.
Teams are fully prepared for Black Friday and Christmas, with inventories structured for strong seasonal demand and omnichannel enhancements.
Ongoing initiatives to boost operational cash generation and improve tax efficiency.
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