Sonda (SONDA) Q2 2025 earnings summary

Executive summary

• Revenues for 6M25 reached US$781.4 million, up 0.3% year-over-year in reporting currency and 4.6% in constant currency, with growth led by the Transactional Business segment and strong commercial activity in Brazil and Argentina.

• The Goiás Connectivity Project marked a strategic milestone, enhancing digital infrastructure and positioning for future growth in Brazil.

• Strategic Plan 2025-2027 initiatives are underway, focusing on vertical specialization, high-value services, and operational efficiencies, driving increased commercial activity and investment.

• Operating income fell 31.4% year-over-year to US$26.0 million, mainly due to higher provisions for bad debts, non-recurring results in 1H24, and increased commercial efforts.

• Net income attributable to owners was US$3.6 million, down 51.5% year-over-year, impacted by lower operating income and higher financial costs.

Financial highlights

• Consolidated revenues for 6M25 reached US$781.4 million, flat year-over-year; 2Q25 revenues were US$398 million, up 1% from 2Q24.

• EBITDA for 6M25 was US$54.5 million, down 17.1% year-over-year; 2Q25 EBITDA was US$26 million, down 11.9% from 2Q24, with an EBITDA margin of 7.0%.

• Net income for 6M25 was US$4 million, a decrease of US$4 million compared to 6M24.

• Closed deals volume rose 5.8% to US$899.6 million for 6M25, and the business opportunity pipeline increased 36.8% to US$7,257.1 million since December 2024.

• Gross profit decreased 4.8% to Ch$94,680 million, with a gross margin of 13.0%.

Outlook and guidance

• The 2025-2027 Strategic Plan aims to deepen vertical specialization, accelerate high-value service mix, and expand in key geographies, driving increased commercial activity and investment.

• Most strategic initiatives are expected to impact results starting in 2026.

• Fitch Ratings affirmed long-term ratings at AA- with a Negative outlook in April 2025; ICR reaffirmed AA- with a Stable outlook in August 2024.