Unifique Telecomunicações (FIQE3) Q1 2025 earnings summary

Executive summary

• Gross revenue reached BRL 335.9 million in Q1 2025, up 8.5% year-over-year and 2.4% sequentially, driven by organic growth and new client activations.

• Recurring EBITDA was BRL 133.6 million, up 5.4% sequentially, with a margin of 49.6%, reflecting strong operational efficiency.

• Net profit for Q1 2025 was BRL 37.0 million, with a net margin of 11.0%.

• Mobile accesses surged 38.4% sequentially to 131,926, with 87% of mobile customers on combo plans.

• Continued leadership in broadband, recognized as best in Southern Brazil, and expanded 5G/4G coverage to 37 cities.

Financial highlights

• Gross profit reached BRL 138.2 million in Q1 2025, with a gross margin of 51.2%.

• Yearly gross revenue increased 222% from 2020 to 2024, reaching BRL 1,272.4 million.

• Net debt at the end of Q1 2025 was BRL 371.2 million, with a net debt/LTM recurring EBITDA ratio of 0.74x.

• Cash position at BRL 457.6 million as of March 2025.

• CAPEX for Q1 2025 was BRL 57.6 million, with BRL 30 million allocated to 5G operations.

Outlook and guidance

• Targeting 300,000 additional mobile accesses by year-end, supported by ongoing network expansion.

• Prepaid mobile offering to launch in Q2 2025, aiming to capture a broader market segment.

• Focus remains on expansion, innovation, and customer experience to consolidate leadership.

• Obligated to expand 5G/4G coverage to 670 cities in Southern Brazil by December 2029.

• Open to inorganic growth opportunities as market conditions stabilize.