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ZAMP (ZMMP.Y) investor relations material
ZAMP 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
Net operating revenue reached R$1.31 billion in 3Q25, up 16.7% year-over-year, driven by acquisitions and strong digital sales growth.
System-wide sales rose 50% to R$2.3 billion, reflecting the integration of Subway® and Starbucks®.
Digital channels accounted for 54.8% of total revenue, with digital sales up 21.9% year-over-year.
Adjusted EBITDA increased 34.5% to R$182.3 million, with margin improvement.
Net loss narrowed to R$22.5 million, a 30.8% improvement year-over-year.
Financial highlights
Gross margin was 64%, down 0.5 percentage points due to inflationary pressures, especially in protein costs.
Adjusted EBITDA margin rose to 13.9%, up 1.8 percentage points year-over-year.
Net debt increased to R$767.7 million, with leverage at 2.0x Adjusted EBITDA.
Operating cash flow improved to R$232.8 million, and adjusted free cash flow reached R$154.3 million.
CAPEX for the quarter was R$76.2 million, focused on new store openings, renovations, and technology.
Outlook and guidance
Continued focus on digital transformation and CRM, with loyalty program Clube BK surpassing 21 million users.
Ongoing integration and optimization of newly acquired brands to drive further growth and operational leverage.
What was the organic revenue growth ex-acquisitions?
What is the margin profile of digital channels?
How does CAPEX align with store portfolio strategy?
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Frequently asked questions
ZAMP SA operates in the food and restaurant industry, focusing on quick-service dining and franchise management. The company oversees a portfolio of restaurant brands, managing operations, marketing, and supply chain logistics to support its network of locations. ZAMP SA works to expand its presence through franchising agreements and strategic partnerships. The company is headquartered in Bucharest, Romania, and its shares are listed on the Bucharest Stock Exchange (BVB).
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