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ZAMP (ZMMP.Y) Q2 2024 earnings summary

Event summary combining transcript, slides, and related documents.

Logotype for ZAMP SA

Q2 2024 earnings summary

2 Feb, 2026

Executive summary

  • Net operating revenue reached R$1.1 billion in Q2 2024, up 19% year-over-year, driven by strong same-store sales, digital growth, and operational improvements.

  • Adjusted EBITDA ex-IFRS 16 rose 43% to R$90.5 million, reflecting operational leverage and effective cost management.

  • Digital sales accounted for 51% of total sales, up 30% year-over-year, with self-service kiosks and delivery as key drivers.

  • Net loss narrowed by 57% to R$28 million compared to Q2 2023.

  • Management highlights successful commercial strategies, digitalization, and leadership changes positioning the company for future growth.

Financial highlights

  • Same-store sales increased 16.2% for Burger King and 7.2% for Popeyes in Q2 2024.

  • Gross margin improved by 12 basis points to 65% year-over-year.

  • Operating cash flow increased to R$81.7 million in Q2 2024 from R$54.7 million in Q2 2023.

  • CapEx was R$70.8 million, a reduction of R$20 million year-over-year, mainly for store openings and maintenance.

  • Net debt stood at R$880.6 million, with a leverage ratio of 2.2x net debt/EBITDA.

Outlook and guidance

  • Focus remains on sales and traffic growth through commercial strategy, innovation, and digital channels.

  • Continued investment in customer experience, both physical and digital, and ongoing restaurant modernization.

  • Efficiency and operational leverage are key priorities, with ongoing simplification of corporate structure.

  • Organic growth targeted through new store openings, especially freestanding formats; 35-45 Burger King openings expected in 2024.

  • Inorganic growth opportunities, including potential Starbucks incorporation and scalable brand acquisitions, are being explored.

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