Unifique Telecomunicações (FIQE3) Q2 2025 earnings summary

Executive summary

• Net income reached BRL 45.2 million in Q2 2025, up 22.1% sequentially and 9.9% year-over-year, with net margin improving to 15.8%.

• Adjusted/recurring EBITDA was BRL 143.5 million, up 7.4% sequentially and 17.6% year-over-year, with margin expanding to 50.2%.

• Gross revenue grew 11.6% year-over-year to BRL 352.2 million, with net revenue at BRL 286.1 million (+12.2% YoY).

• Mobile accesses surged 28.9% sequentially to 170,021, with 5G/4G coverage in 71 cities.

• Maintained robust financial health with low leverage and strong cash position.

Financial highlights

• Gross profit for Q2 2025 was BRL 144.9 million, up 4.9% year-over-year, with a gross margin of 50.7%.

• Operating cash flow for H1 2025 was BRL 253.2 million.

• Net margin improved to 15.8% in Q2 2025 from 13.7% a year ago.

• Debt reduced by 13.9% from prior quarter, ending at BRL 319.4 million; cash at BRL 376 million.

• CAPEX reached BRL 92.0 million, up 12.9% year-over-year and 59.7% sequentially.

Outlook and guidance

• Focus on expansion, innovation, and customer experience, with plans to expand 5G/4G coverage to 670 cities by 2029 in southern Brazil.

• EBITDA margin guidance revised upward, aiming to maintain around 50% for 2025.

• Mobile revenue projected to reach BRL 100 million in 2026, with further acceleration expected.

• Prepaid mobile plans launched in July 2025 to drive further growth.

• Expecting normalized operations and growth in Rio Grande do Sul from September onward.