Movida Participações (MOVI3) Q4 2025 earnings summary

Executive summary

• Achieved record operational and financial results in 2025, with net revenue of R$14.7B (up 8.8% YoY), net income of R$318M (up 38% YoY), and ROIC at a historic 16.6%, driven by operational efficiency, customer-centric innovation, and market share gains.

• Customer-centric model and technology-driven service enhancements led to a record 676,000 new customers in 2025.

• Operational excellence and disciplined capital allocation supported leadership in value creation and profitability.

• Entering 2026 with multiple levers for further value creation, including new service channels, digitalization, and operational improvements.

• Recognized as industry leader in NPS and customer satisfaction, with industry awards and strong market share gains.

Financial highlights

• Net revenue reached R$14.7B in 2025, with consolidated EBITDA at R$5.7B (up 21–22% YoY), and EBIT at R$3.3B (up 24% YoY).

• Net income for 2025 was R$318M, up 37.5–38% YoY; 4Q25 net income was R$102M, up 64.5%.

• EBITDA margin reached 67.4% in rent-a-car and 75.9% in GTF; consolidated EBITDA margin at 71.3%.

• Net debt/EBITDA improved to 2.6x by year-end 2025, the lowest in five years.

• ROIC at 16.6% in 2025, the highest in company history.

Outlook and guidance

• Net income guidance for 1Q26 is R$110–130M, up 54% YoY and 71% above market consensus.

• 2026 strategy focuses on price recomposition, cost reduction, higher RAC utilization, stable used-car margins, and continued deleveraging.

• Guidance for net debt/EBITDA remains at 2.6x–2.8x, with leverage at the lowest level in five years.