Hospital Mater Dei (MATD3) Q4 2025 earnings summary

Executive summary

• Achieved all-time high operational and financial indicators, including record quarterly EBITDA and EBITDA margin in 4Q25 and FY2025, reflecting strong business performance and premium healthcare positioning.

• Net revenue grew 15.5% year-over-year in 4Q25 and 11.4% for 2025, driven by higher average ticket and increased occupancy rates.

• Maintained AA+.br rating by Moody's with a stable outlook, underscoring financial health and resilience.

• Distributed BRL 75 million in dividends in 2025, exceeding the legal minimum and reinforcing shareholder value.

Financial highlights

• Net revenue: BRL 562 million in 4Q25 (+15.5% YoY), BRL 2,175 million in 2025 (+11.4% YoY).

• Adjusted EBITDA: BRL 127 million in 4Q25 (+64.0% YoY), BRL 465 million in 2025 (+27.5% YoY); margin increased by 6.7pp to 22.6%.

• Net profit: BRL 37 million in 4Q25 (+356.1% YoY), BRL 112 million in 2025 (vs. -BRL 371 million in 2024).

• Gross margin: 30.5% in 4Q25 (+4.0pp YoY), 29.9% in 2025 (+0.9pp YoY).

• Operating cash flow remained robust, with cash and equivalents at BRL 599 million at year-end 2025.

Outlook and guidance

• Continued focus on innovation, operational excellence, and premium service delivery, with emphasis on operational efficiency, higher occupancy, and specialty mix.

• Ongoing investments in technology, including AI for revenue cycle and advanced therapies, and CAPEX control to support financial health.