INSUBCONTINENT EXCLUSIVE:
earnings release.Analysts had forecast R$ 501 million ($84 million), based on LSEG estimates
The adjusted EBITDA rose 43.6% to R$ 2 billion ($333 million), reflecting stronger margins and operational discipline.The distribution,
service stations and B2B segment achieved adjusted EBITDA of R$ 1.8 billion ($300 million), up 28.5% year-on-year
The segment delivered R$ 215 in EBITDA per cubic meter, a 31.4% improvement.The company credited this performance to efficiency programs and
tighter commercial controls
Net revenues climbed 13% to R$ 45 billion, despite a 2.2% volume decline.In renewables, Vibra generated R$ 1.2 billion ($200 million) in net
revenue and R$ 268 million ($45 million) in EBITDA @stake, up 15.1% from Q1 2024.Vibra Outperforms Estimates in Q1 2025 as Net Income Falls
(Photo Internet reproduction)The growth stemmed from increased solar output and higher power sales under long-term contracts
Management highlighted that renewables now account for 8% of total EBITDA.Vibra Navigates Rising Leverage with Renewables GrowthVibra ended
March with net debt of R$ 20.5 billion ($3.42 billion), equal to 1.8 times last twelve-month adjusted EBITDA
The leverage ratio rose from 0.9 times at year-end 2024, driven by the Comerc acquisition and working capital shifts.Vibra expects net debt
leverage to peak near 2.5 times by year-end 2025 before declining
billion ($550 million).That drop reflected lower tax recoveries and diminished non-core asset gains
For full-year 2024, Vibra reported net income of R$ 6.37 billion ($1.06 billion) and adjusted EBITDA of R$ 6.25 billion ($1.04 billion),
supported by stable fuel margins and improved retail performance.Since rebranding from BR Distribuidora in 2021, Vibra has focused on five
pillars: fuel distribution, retail network, B2B solutions, lubricants and renewables.In 2024, the company sold 35.8 million cubic meters,
achieving R$ 175 in adjusted EBITDA per cubic meter
It also generated R$ 3.3 billion in free cash flow and maintained a 0.9 times leverage ratio.Looking ahead, Vibra expects renewables segment
EBITDA to reach R$ 1.3 billion in 2025
The company anticipates Comerc will break even in the second half and deliver positive cash flow by 2026
Management stated that structural efficiencies continue to shield margins from oil-price volatility.
