Tegma Gestão Logística (TGMA3) Q1 2025 earnings summary

Executive summary

• Net revenue in Q1 2025 reached BRL 440.4 million, up 13% year-on-year, driven by growth in both Automotive and Integrated Logistics divisions.

• Net income rose 17% year-on-year to BRL 44 million, with net margin improving to 9.9%.

• Free cash flow was BRL 92 million, supported by operational performance and a reduction in accounts receivable.

• The company operates mainly in Automotive Logistics and Integrated Logistics, with the majority of revenue from the automotive segment.

• Return on invested capital (ROIC) remained high at 39.6%, stable versus 4Q24.

Financial highlights

• Gross revenue totaled BRL 545.1 million, up 12.8% year-on-year; net revenue was BRL 440.4 million, up 13.2%.

• EBITDA for Q1 2025 was BRL 61 million with a margin of 15.6%, up nearly 0.7 percentage points year-on-year.

• Net cash position at March 2025 was BRL 228 million, up from BRL 135 million in December 2024.

• CAPEX in Q1 2025 was BRL 10 million, mainly for IT, software, and storage capacity expansion.

• Basic and diluted EPS were BRL 0.66, up from BRL 0.57 year-over-year.

Outlook and guidance

• Management expects continued growth in vehicle sales and logistics volumes, supported by positive economic indicators.

• Expectations for GDL in 2025 remain positive, with warehousing and bonded services anticipated to perform well despite recent margin adjustments.

• Forward-looking statements are based on current expectations and actual results may differ materially.