Iguatemi SA (BSP:IGTI4)

Q3 2025 Iguatemi SA Earnings Call (English, Portuguese) Transcript

Nov 5, 2025 / 01:00 PM GMT

Release Date Price: R$11.12 (+2.87%)

Transcript

Key Points

Positve

Iguatemi SA (BSP:IGTI3) reported a 22.5% increase in total sales, reaching BRL6 billion for the third quarter, showcasing the effectiveness of their M&A strategy.
The company achieved a high occupancy rate of 96.1%, indicating strong demand and quality of their retail spaces.
Iguatemi SA successfully opened the first H&M store in Brazil, which has become one of the best-performing stores per square meter globally.
The company reported a 20.6% growth in EBITDA, driven by strategic portfolio changes and strong performance in flagship malls.
Iguatemi SA maintained a healthy leverage ratio of 1.64, below their guidance of 2 times, indicating strong financial management.

Negative

Despite the overall sales growth, the same-store sales growth was only 5.8%, impacted by previous year's strong performance in the South due to flooding recovery.
The company's FFO experienced a decline due to higher financial expenses and increased income tax.
There were delays in CapEx projects, such as the expansion of Iguatemi Brasilia and the retrofit of Marketplace, affecting the planned investment timeline.
The retail sector's EBITDA margin was lower than expected, despite a 43% growth in sales, indicating potential margin pressure.
The company faces challenges in maintaining high occupancy rates in certain hinterland malls, which historically have lower occupancy.

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

IGTI3.SA - Iguatemi SA
Q3 2025 Iguatemi SA Earnings Call (English, Portuguese)
Nov 05, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and thank you for holding. Welcome to the IGAmi SA earnings conference call to discuss the results for the 3rd quarter 25. Present with us today are Mr. Siro Neto, the Chief Executive Officer, and Mr. Guido Oliveira, Vice President of finance. Finance and investor relations officer, we would like to inform you that this event is being recorded and all participants will be in listen-only mode during the Guatemi presentation.

We will then begin the question-and-answer session when further instructions will be provided. The presentation is available. Available for download at R.igatemi.com.brr.

Before proceeding, we would like to clarify that any statements made during this conference call regarding

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