Iochpe Maxion SA
BOVESPA:MYPK3
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Iochpe Maxion SA
BOVESPA:MYPK3
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Zhulian Corp Bhd
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Westrock Co
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Iochpe Maxion SA
Iochpe-Maxion SA engages in the automotive business. The company is headquartered in Cruzeiro, Sao Paulo and currently employs 17,000 full-time employees. The firm is a producer of automotive structural components in the Americas, and a producer of railway equipment in Brazil. Its operations are focused on the automotive segment, and divided into the wheels and structural component segments. The firm operates through three divisions: Maxion Wheels, Maxion Structural Components and AmstedMaxion. At Maxion Wheels, the Company produces and sells a range of steel wheels for light and commercial vehicles, and agricultural machinery and aluminum wheels for light vehicles. At Maxion Structural Components, it produces side rails, cross members and full frames for commercial vehicles and structural components for light vehicles. At AmstedMaxion (a joint venture), the Company produces freight cars, railway wheels and castings, as well as industrial castings. The firm's and its subsidiaries' operations are carried out in over 30 units located in Brazil and abroad.
Iochpe-Maxion SA engages in the automotive business. The company is headquartered in Cruzeiro, Sao Paulo and currently employs 17,000 full-time employees. The firm is a producer of automotive structural components in the Americas, and a producer of railway equipment in Brazil. Its operations are focused on the automotive segment, and divided into the wheels and structural component segments. The firm operates through three divisions: Maxion Wheels, Maxion Structural Components and AmstedMaxion. At Maxion Wheels, the Company produces and sells a range of steel wheels for light and commercial vehicles, and agricultural machinery and aluminum wheels for light vehicles. At Maxion Structural Components, it produces side rails, cross members and full frames for commercial vehicles and structural components for light vehicles. At AmstedMaxion (a joint venture), the Company produces freight cars, railway wheels and castings, as well as industrial castings. The firm's and its subsidiaries' operations are carried out in over 30 units located in Brazil and abroad.
Revenue: Iochpe-Maxion reported 2025 net revenue of BRL 15.3 billion, slightly up versus 2024 despite a challenging second half.
Margins: Gross profit margin for 2025 held steady at 12%, and recurring EBITDA margin remained in double-digits at 10.1%, even with major declines in truck markets.
Regional Performance: The company outperformed the market in Europe and Asia, while North and South America suffered from commercial vehicle slowdowns.
Net Income: Net income was negative in Q4 due to higher restructuring costs, financial expenses, and taxes, with SELIC rates and Turkish inflation accounting impacting results.
CapEx & Leverage: Investments were reduced to BRL 554 million in 2025, and leverage ended at 2.65x, slightly up but stable when adjusted for factoring.
Outlook: Management expects better conditions in 2026 for trucks, especially in Brazil and India, and sees continued market share gains from Chinese OEMs worldwide.
Guidance & Risks: No major effect expected from US tariffs due to supply from Mexico; management remains cautious on visibility for full-year 2026.
