Q4 2025 Veste SA Estilo Earnings Call Transcript
Key Points
- Net revenue increased by 8.4% in Q4 2025 compared to Q4 2024, with same store sales up 10.7%.
- Total net revenue for 2025 amounted to BRL1.243 billion, representing a growth of 10.4% with same store sales up 9%.
- Adjusted EBITDA reached BRL266.7 million, an 18.6% increase compared to 2024, with a 1.5 percentage point margin expansion.
- The digital B2C channel grew 26.5% in Q4 and 21.3% for the year, with margin expansion and increased share of mobile apps.
- Net debt was reduced to BRL113.7 million by the end of December 2025, equivalent to 0.6 times adjusted EBITDA over the last 12 months.
- B2B revenue declined by 4.6% in Q4 2025 due to strategic concentration of year-end billing in the third quarter.
- Individual brand revenue declined by 24.1% in Q4 2025, impacted by the B2B billing calendar.
- Despite overall growth, the outlet channel remained stable with only a 1.2% increase for the year.
- Inventory levels were reduced by 12.5% compared to December 2024, which could potentially lead to stockouts if not managed carefully.
- The company is still managing high leverage, although it is considered healthy, with plans to reduce it further.
Good morning, everyone. Welcome to Veste SA conference call to discuss the results of the fourth quarter of 2025. Joining us today are Mr. Alexandre Afrange, CEO of Veste; and Ms. Elisa Lima, CFO and Investor Relations Officer.
We inform all participants that the earnings release of the fourth quarter of 2025 is available on Veste's Investor Relations website at www.veste.com under the Results Center section.
Before we begin, I would like to make a brief disclaimer. This conference call is being recorded and simultaneously translated. After the call, the presentation materials will be available on Veste's IR website. All questions must be submitted in writing through the Q&A icon. Please feel free to send your questions at any time during the presentation.
Any statements made during this webcast regarding the company's business outlook, projections and operational and financial targets constitute management's assumptions and are based on information currently available to the company. Forward-looking statements
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
