Hidrovias DO Brasil SA (BSP:HBSA3)

Q4 2025 Hidrovias do Brasil SA Earnings Call (English, Portuguese) Transcript

Mar 3, 2026 / 01:00 PM GMT

Release Date Price: R$4.16 (-2.80%)

Transcript

Key Points

Positve

Hidrovias DO Brasil SA (BSP:HBSA3) reported a significant 95% growth in net operating revenue for 2025 compared to 2024.
The company successfully reduced its leverage from 7 times at the end of 2024 to 2.3 times by the end of 2025.
Operational improvements and structural enhancements led to a 22% increase in transported volumes, reaching nearly 18 million tons.
The company achieved a 56% reduction in its lost time injury frequency rate, indicating improved safety and operational efficiency.
Recurring adjusted EBITDA reached a record BRL 1.1 billion for the full year, reflecting a 95% year-on-year increase.

Negative

The company faced challenges with high truck volumes and heavy rainfall impacting operational fluidity at the ETC intake.
Non-recurring items, including accounting write-offs related to coastal shipping and client indemnities, resulted in a net loss of 361 million in the fourth quarter.
The suspension of a government auction for the Tapajos River dredging project introduces structural uncertainty for future operations.
There is pressure on tariffs in the north corridor due to ongoing infrastructure work and competitive dynamics.
The company anticipates lower results in the first quarter of 2026 due to a stronger comparison base from the first quarter of 2025.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HBSA3.SA - Hidrovias do Brasil SA
Q4 2025 Hidrovias do Brasil SA Earnings Call (English, Portuguese)
Mar 03, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to Idro Via do Brazil earnings conference call for the 4th quarter 2025. Joining us today are Desio Marra, the Chief Executive Officer, and Andre Haheng, Chief Financial Officer. And investor relations officer. This event is being recorded and will be available on the company's investor relations website. Ensuing the comments of Idrovia's management, there will be a Q&A session when further instructions will be provided. We highlight that the simultaneous translation tool is available on the platform. To access it, simply click on the interpretation button and choose your preferred language.

Before proceeding, we would like to emphasize that forward-looking

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