Romi (ROMI3) Q4 2025 earnings summary

Executive summary

• Achieved consistent results in 2025 and 4Q25, with net operating revenue of R$1.33 billion for the year (up 8.1% YoY) and R$388.2 million in 4Q25, driven by B+W Machines' strong performance and diversification into machine rentals and fintech solutions.

• Consolidated order backlog reached R$750.4 million at year-end, up 15.1% YoY, mainly due to B+W Machines.

• Gross margin improved by 1.9 percentage points YoY in 4Q25 to 32.1%, reflecting operational efficiency and solution diversification.

• Adjusted net income for 2025 was R$93.3 million, with consolidated net income at R$86.2 million, reflecting a decrease from the prior year.

• Strategic investments continued in automation, digitalization, and new product development aligned with Industry 4.0.

Financial highlights

• Net operating revenue for 2025 was R$1.33 billion (+8.1% YoY); 4Q25 revenue was R$388.2 million.

• Adjusted EBITDA for 4Q25 was R$66.2 million (margin 17.0%).

• Gross margin for 4Q25 was 32.1%, up 1.9 p.p. YoY.

• Net income for 2025 was R$86.2 million (R$0.92 per share), down from R$114.96 million in 2024.

• Net cash position at year-end 2025 was negative R$135.2 million, with borrowings totaling R$611.3 million.

Outlook and guidance

• Management remains confident in navigating 2026, focusing on execution, innovation, digital technologies, and international expansion despite macroeconomic caution.

• Order backlog growth of 15.1% YoY signals positive demand outlook, especially for B+W Machines.

• Continued investment in new product generations and Industry 4.0 technologies to ensure competitiveness.