Q1 2026 Qualicorp Consultoria e Corretora de Seguros SA Earnings Call (English, Portuguese) Transcript
Key Points
- Qualicorp Consultoria E Corretora De Seguros SA (BSP:QUAL3) reported a significant reduction in churn, reaching 9.4%, which is much lower than the company's historical average.
- The company generated BRL126 million in operating cash flow, reducing leverage to 1.35 times adjusted EBITDA over the last 12 months.
- Net revenue increased by 6% quarter on quarter and year on year, indicating consistent financial growth.
- Fixed and variable expenses were reduced by almost 4% quarter on quarter and over 9% year on year, demonstrating effective cost discipline.
- The company is focusing on expanding its portfolio with a better mix of high-performing lives, which is expected to lead to higher shareholder profits.
- The managed portfolio saw a reduction of 14,000 lives quarter on quarter, indicating a shrinking membership base.
- Variable expenses increased due to losses from delinquency, with a seasonal effect contributing to this rise.
- There is a high backlog of lawsuits, although the entry of new lawsuits is decreasing, indicating ongoing legal challenges.
- The company is still experiencing portfolio losses quarter after quarter, although at a reduced rate compared to the past.
- The competitive SME market is challenging, with prices that may not be sustainable in the long term, impacting the company's strategic focus on affinity products.
Good morning, ladies and gentlemen, and thank you for holding. Welcome to Qualicorp's first quarter 2026 earnings webcast. Joining us today are Mr. Mauricio Lopes, CEO; Mr. Eder Grande, CFO and IRO; and Mr. Eduardo Garcia, Head of Investor Relations. Certain statements in this webcast may be projections or statements about future expectations. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause these expectations not to materialize or to be substantially different from what was anticipated.
Please note that this event is being broadcast simultaneously over the Internet and can be accessed at ri.qualicorp.com.br where the corresponding presentation is available. We also inform you that this event will be recorded. Participants will listen to the webcast during company's presentation after which will begin the Q&A session when furthur instructions will be given.
Now I would like to turn the call over to Mr. Mauricio Lopes, who will begin the presentation. Mr. Lopes, please go ahead.
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