Auna (AUNA) Q2 2025 earnings summary

Executive summary

• Adjusted EBITDA grew 5% FX-neutral year-over-year, with all country segments contributing positively in local currency terms.

• Revenue increased 4% FX-neutral but declined 2% YoY on a reported basis to S/1,094 million, impacted by currency depreciation in Mexico and Colombia.

• Adjusted net income surged over sixfold YoY to S/89 million, marking the sixth consecutive quarter of positive net income.

• Strategic initiatives in Mexico, Peru, and Colombia drove operational improvements and margin resilience.

• All segments contributed positively in local currency, confirming strong business fundamentals.

Financial highlights

• Adjusted EBITDA was S/241 million, down 3% YoY reported but up 5% FX-neutral; margin held steady at 22.1%.

• Consolidated revenue for Q2 2025 was S/1,094 million, down 2% YoY but up 4% FX-neutral.

• Adjusted net income reached S/89 million, a sixfold increase YoY.

• Free cash flow for the period was S/143 million, down from S/155 million YoY, mainly due to non-recurring payments.

• Leverage ratio remained flat at 3.6x.

Outlook and guidance

• Focus remains on optimizing capital structure and reducing leverage ratio below 3.0x medium-term.

• Continued investment in medical talent, productivity, and selective capital deployment to support growth.

• Expect continued improvement in Mexico and Colombia performance for the remainder of the year.

• Near-term growth outlook is uncertain due to trade and tariff issues in Mexico and unresolved payer issues in Colombia.

• Peru is expected to continue as a key growth driver due to its vertically integrated model.