Unifique Telecomunicações (FIQE3) Q4 2025 earnings summary

Executive summary

• Adjusted EBITDA reached BRL 613 million in 2025, up 21.4% year-over-year, with a margin of 50.9%.

• Net income totaled BRL 209 million, a 19.8% increase compared to 2024, with a net margin of 17.6%.

• Gross revenue grew to BRL 1.44 billion in 2025, up 18.3% year-over-year, driven by mobile and combo plan expansion.

• Mobile accesses rose to 248,000, with 152,000 net adds in 2025, and broadband customers reached 868,000.

• Churn rate improved to 1.36% in Q4 2025, the lowest in the sector.

Financial highlights

• Adjusted EBITDA margin advanced by 2.4 percentage points from 2024 to 50.9% in 2025.

• Net debt stood at BRL 369.9 million, with leverage at 0.62x and cash position of BRL 281 million.

• Gross profit rose 23.2% to BRL 612.7 million in 2025.

• Dividend and interest on equity payments totaled BRL 110 million, with a payout ratio above 50%.

• Free cash flow for 2025 was BRL 204.7 million, up 19.2% year-over-year.

Outlook and guidance

• Management expects 2026 to be the best year post-pandemic, targeting at least 50,000 net adds, with a stretch goal of 60,000.

• Mobile revenue projected to exceed BRL 170 million in 2026, with positive EBITDA expected by year-end.

• Continued focus on operational efficiency, customer retention, and sustainable growth in southern Brazil.

• S&P Global upgraded credit rating to brAA with stable outlook, reflecting expectations of continued customer base expansion and organic growth.