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ZAMP (ZMMP.Y) investor relations material
ZAMP Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net operating revenue reached R$1.4 billion in 2Q26, up 8.3% year-over-year, with digital sales growing 26.7% and accounting for 65.5% of restaurant revenue.
Adjusted EBITDA was R$184.7 million, up 7% YoY, with a margin of 13.3%. Net loss improved to R$45.8 million from R$72.5 million in 2Q25.
System-wide gross sales reached R$2.7 billion, a 17% increase YoY, reflecting strong brand integration and revenue management.
Financial highlights
Gross margin expanded to 69.3%, up 423bps YoY, driven by revenue management and cost dilution.
Net debt rose to R$1,176.5 million, with leverage at 2.5x Adjusted EBITDA (ex-IFRS 16).
Shareholders’ equity decreased to R$1,347.6 million from R$1,472.3 million at 2Q25.
Cash and cash equivalents stood at R$135.7 million at quarter-end.
CAPEX for the quarter was R$143.4 million, mainly for store reinvestments and openings.
Outlook and guidance
Management expects continued revenue growth, supported by digital channel expansion and ongoing brand investments.
Ongoing investments in store modernization and expansion, particularly for Burger King and Starbucks.
Seasonality in the second half is anticipated to improve cash generation and liquidity.
- Net revenue up 15% to R$1.33bn, digital sales 60.6%, but net loss widened to R$109m.ZMMP.Y
Q1 2026 - Revenue and margins grew, net profit improved, and capital structure was strengthened.ZMMP.Y
Q4 2025 - Revenue up 16.7% YoY, adjusted EBITDA up 34.5%, digital sales exceed half of total revenue.ZMMP.Y
Q3 2025 - Revenue up 15.9% YoY, digital sales 53.3%, strong SSS, OPA for delisting approved.ZMMP.Y
Q2 2025 - Net revenue up 18% YoY, digital sales at 52%, and Starbucks/Subway acquisitions completed.ZMMP.Y
Q3 2024 - Net revenue up 19% YoY, EBITDA ex-IFRS 16 up 43%, and net loss cut by 57%.ZMMP.Y
Q2 2024 - Revenue up 13% YoY to R$1.2B, digital sales at 54%, net loss improved to -R$43.5M.ZMMP.Y
Q1 2025 - Revenue up 19% to R$4.6B, but net loss widened to R$191.3M amid expansion and integration.ZMMP.Y
Q4 2024
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