CVC Brasil Operadora e Agencia de Viagens SA
BOVESPA:CVCB3
CVC Brasil Operadora e Agencia de Viagens SA
CVC Brasil Operadora e Agência de Viagens SA engages in the provision of travel agency services. The company is headquartered in Santo Andre, Sao Paulo. The company went IPO on 2013-12-09. The firm offers domestic and international tourism packages, cruises, hotel and resort stays, airline tickets and tours. Its travel packages combine airfare, ground transportation, accommodations, travel insurance, tourist guides and other complementary travel services. In addition, it organizes international exchanges, language camps and trips for teenagers. The firm sells products and services through own stores, online distribution platforms and authorized independent agents. Its destinations range mainly includes Europe and the Americas. The firm owns several subsidiaries in Brazil and Argentina, such as CVC Servicos Agencia de Viagens Ltda and CVC Turismo SAU, among others.
CVC Brasil Operadora e Agência de Viagens SA engages in the provision of travel agency services. The company is headquartered in Santo Andre, Sao Paulo. The company went IPO on 2013-12-09. The firm offers domestic and international tourism packages, cruises, hotel and resort stays, airline tickets and tours. Its travel packages combine airfare, ground transportation, accommodations, travel insurance, tourist guides and other complementary travel services. In addition, it organizes international exchanges, language camps and trips for teenagers. The firm sells products and services through own stores, online distribution platforms and authorized independent agents. Its destinations range mainly includes Europe and the Americas. The firm owns several subsidiaries in Brazil and Argentina, such as CVC Servicos Agencia de Viagens Ltda and CVC Turismo SAU, among others.
Strong B2B & International Growth: Confirmed bookings grew 15%, driven by B2B segments in both Brazil and Argentina, with international travel passenger numbers up 16%.
Solid Profitability: EBITDA reached BRL 130 million, up nearly 5%, with margin close to 35%. Net profit surprised at BRL 62 million, up 36% from last year.
Debt & Leverage Down: Net debt fell by almost BRL 200 million versus Q2, with leverage dropping to just 0.5x EBITDA, well below market averages.
Store Expansion: 42 new stores opened in the quarter, mostly in small and medium towns, supporting blue ocean growth and low-cost expansion.
Take Rate Pressure: Overall take rate declined due to B2B outpacing B2C, a trend expected to continue as management sees B2B globally growing faster.
Operational Efficiency: G&A expenses grew below inflation and as a percent of revenue continued to improve, with digitalization and AI cited to drive further efficiency.
Positive Outlook: Management expects continued international growth if FX remains stable, more store openings, improved working capital, and ongoing leverage reduction.
