Press Release

Motiva – Results for the 3rd quarter of 2025

SÃO PAULO, Oct. 29, 2025 /PRNewswire/ —

Highlights

  1. On July 04, 2025, the Amendment at SPVias was signed, resulting in the extension of the concession term by 73 days;
  2. On August 01, 2025, the Company signed an amendment to modernize the Motiva Pantanal contract;
  3. On September 26, 2025, the Amendment at ViaQuatro was signed, resulting in the extension of the concession term by 20 years;
  4. Cash
     OPEX/Adjusted Net Revenue LTM was 38.3% in 3Q25.

 


Consolidated Operational and Financial Highlights


OPERATING AND FINANCIAL HIGHLIGHTS
(R$ M)


3Q24


3Q25


Var. %


9M24


9M25


Var. %


Consolidated Adjusted Net Revenue¹


3,782


3,957


4.6 %


10,748


11,249


4.7 %


Consolidated Adjusted EBITDA¹


2,190


2,547


16.3 %


6,265


6,997


11.7 %


Adjusted EBITDA – Toll Roads

1,621

1,979

22.1 %

4,653

5,222

12.2 %


Adjusted EBITDA – Railways

571

588

3.0 %

1,561

1,751

12.2 %


Adjusted EBITDA – Airports

274

314

14.6 %

793

912

15.0 %


Adjusted EBITDA – Others

(276)

(334)

21.0 %

(742)

(888)

19.7 %


Consolidated Adjusted EBITDA Margin²


57.9 %


64.4 %


6.5 p.p.


58.3 %


62.2 %


3.9 p.p.


Adjusted Net Income¹


560


683


22.0 %


1,420


1,620


14.1 %


ROE3


11.4 %


18.0 %


6.6 p.p.


11.4 %


18.0 %


6.6 p.p.


ROIC3


6.6 %


11.0 %


4.3 p.p.


6.6 %


11.0 %


4.3 p.p.


Net Debt/LTM Adjusted EBITDA (x)


3.1


3.6


0.5


3.1


3.6


0.5

Toll Roads – Vehicle Equivalents (million)

314.0

283.6

-9.7 %

909.6

840.5

-7.6 %

Railways – Passengers Transported (million)

193.6

194.7

0.5 %

560.6

564.9

0.8 %

Airports – Boarded Passengers (million) 4

10.4

11.0

5.8 %

29.4

31.6

7.6 %


CAPEX
5


2,101


2,334


11.1 %


4,982


5,471


9.8 %

 

1. Excludes construction revenue and costs. Adjustments are described in the “non-recurring effects” section in Exhibit I (page 26).
2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
3. ROE = Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate) /Invested Capital (Equity + Gross Debt).
4. As of 1Q25, all operational data for the airport business contained in this Release will be presented as total passengers versus boarded passengers (which only considers passengers that generate revenue).
5. Includes improvement works that do not generate future economic benefits for ViaOeste.

Videoconference

Conference call in Portuguese with simultaneous translation into English:

October 30, 2025

10:00 a.m. São Paulo / 9:00 a.m. New York

Videoconference link:

https://motiva-br.zoom.us/webinar/register/WN_hrypxotYSGqDOk9ylPT7-A?_x_zm_rtaid=DyNcTlWbSLyyM66J4OjpQw.1760556932535.74e3045bbe8b4d46bf3bb0ecb92ecb78&_x_zm_rhtaid=342#/registration

IR Contacts

Flávia Godoy:     (+55 11) 3048-5900 – [email protected]

Douglas Ribeiro: (+55 11) 3048-5900 – [email protected]

Cauê Cunha:      (+55 11) 3048-5900 – [email protected]

Caique Moraes:  (+55 11) 3048-5900 – [email protected]

Ana Beatriz Bovo:(+55 11) 3048-5900 – [email protected]

 

Cision View original content:https://www.prnewswire.com/news-releases/motiva—results-for-the-3rd-quarter-of-2025-302599108.html

SOURCE Motiva S.A.

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