Hospital Mater Dei (MATD3) Q4 2025 earnings summary

Executive summary

• Achieved record operational and financial results in 2025, including all-time high EBITDA, net profit, and margins, reflecting strong business performance and premium healthcare positioning.

• Net revenue grew 11.4% year-over-year to BRL 2,175 million (R$2.18 billion), with a 15.5% increase in Q4 compared to Q4 2024, driven by higher average ticket and increased occupancy rates.

• Adjusted EBITDA reached BRL 465 million in 2025, up 27.5% year-over-year, with a record margin of 22.6%.

• Net income for 2025 was BRL 112 million (R$111.9 million), reversing a loss in 2024.

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

Financial highlights

• Gross profit increased 15% year-over-year to R$651 million, with a gross margin of 29.9%.

• Adjusted EBITDA margin improved by 2.7 percentage points to 21.4% in 2025, and adjusted net profit margin improved by 1.8 percentage points to 6.6%.

• Net margin reached 5.1% in 2025, up from -16.4% in 2024.

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

• Net debt/EBITDA (LTM) at 1.7x, with net debt at BRL 800 million (+3.7% YoY).

Outlook and guidance

• Continued focus on innovation, operational efficiency, cost control, and premium service delivery to drive revenue and margin expansion.

• Ongoing investments in technology, including AI for revenue cycle management and advanced therapies.

• Moody’s reaffirmed the AA+.br rating with a stable outlook, citing strong liquidity and prudent financial policy.