Schulz (SHUL4) Q4 2025 earnings summary

Executive summary

• Gross revenue reached R$2.3 billion in 2025, stable year-over-year, with 2% growth in external markets offsetting a 2% decline in domestic sales.

• Net income rose 13% to R$289 million, with net margin improving to 15% and annualized ROE at 20.3%.

• EBITDA totaled R$326.5 million (margin 17%), reflecting resilience despite lower demand in heavy automotive.

• Cash position ended at R$133.6 million after R$115.5 million in dividends paid.

Financial highlights

• Net revenue: R$1.94 billion, down 0.4% year-over-year.

• Gross profit: R$456 million (24% margin), down 9% from 2024.

• Operating income: R$238.3 million (12% margin), down 18%.

• Net income: R$288.9 million (15% margin), up 13%.

• EBITDA: R$326.5 million (17% margin), down 9%.

• Cash and equivalents: R$1.14 billion, up 42%.

• Gross debt: R$1.01 billion, up 35%.

• Net cash: R$133.6 million, up 126%.

Outlook and guidance

• 2026 expected to remain challenging, especially in heavy trucks, but stability anticipated in agricultural and construction machinery.

• Positive outlook for biogas/biomethane solutions and continued innovation in compressors.