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Vibra Energia SA
BOVESPA:VBBR3

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Vibra Energia SA
BOVESPA:VBBR3
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Price: 31.36 BRL 1.69%
Market Cap: R$37.6B

Vibra Energia SA
Investor Relations

Vibra Energia SA, formerly known as Petrobras Distribuidora, stands as a significant player in Brazil's energy sector, known for its extensive network in fuel distribution. The company, originally a subsidiary of Petrobras, has successfully carved out its identity after becoming an independent entity. Vibra Energia operates an expansive network of service stations scattered across Brazil, under the widely recognized BR brand. Its core business involves the distribution of diesel, gasoline, ethanol, and aviation fuel, catering to a diverse clientele that includes retail consumers at service stations, businesses needing large-scale supplies, and the aviation sector. This substantial market presence allows Vibra Energia to thrive in the competitive energy market, leveraging economies of scale to optimize its distribution logistics and ensure steady revenue streams.

Besides fuel distribution, Vibra Energia has been actively diversifying and enhancing its portfolio by delving into renewable energy initiatives and energy solutions services. Recognizing the global shift towards sustainability and the growing demand for cleaner energy, the company engages in solar energy projects and other renewable endeavors, aiming to position itself for the future of energy consumption. Furthermore, value-added services like convenience stores at their service stations contribute to revenue diversification and customer loyalty. By blending traditional energy distribution with forward-thinking strategies in renewable energy, Vibra Energia demonstrates a clear understanding of market dynamics, setting the stage for long-term growth in an evolving energy landscape.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 12, 2026
AI Summary
Q4 2025

Margins: Q4 adjusted EBITDA margin of BRL 251/m3 and adjusted recurring EBITDA margin of BRL 167/m3 (internal recurring BRL 177/m3 after inventory effect); management says margins expanded every quarter in 2025.

Volumes & Share: 2025 volumes reached 35.9 million m3 with Q4 market share at 24.5% (up 0.8 ppt YoY) and record Q4 volumes (highest in 12 quarters).

Profit & Cash: Full‑year EBITDA BRL 8.2 billion and cash generation BRL 5.5 billion in 2025; Q4 operating cash flow BRL 1.2 billion.

Leverage & Capital: Net debt ~BRL 19.1 billion, leverage reduced to 2.4x (below 2.5x target); announced a long‑dated issuance (10th) to lower cost of debt and extend maturities.

Retail & Network: Added 404 service stations in 2025 (100 in Q4), total network ~7,400 stations; BR Mania at 1,517 operations and GMV +16% YoY.

Comerc: Comerc EBITDA flat year‑over‑year at BRL 232 million; management pursuing efficiency and targets free‑cash‑flow breakeven around 2027.

Capital allocation & 2026 plan: CapEx for 2026 expected in the same order of magnitude as 2025 (2025 CapEx BRL 2.0 billion); priority on logistics, SG&A reduction and working‑capital control.

ESG & new initiatives: SAF pilots at Salvador airport, ongoing social programs, Lubrax expansion (Argentina branch) and Lubrax plant utilization improving to ~70%.

Key Financials
Adjusted EBITDA margin (Q4)
BRL 251 per cubic meter
Adjusted recurring EBITDA margin (Q4)
BRL 167 per cubic meter
Internal recurring EBITDA margin (inventory excluded)
BRL 177 per cubic meter
EBITDA (full year 2025)
BRL 8.2 billion
Operating cash flow (full year 2025)
BRL 5.5 billion
Operating cash flow (Q4 2025)
BRL 1.2 billion
Volumes (2025)
35.9 million cubic meters
Q4 volume growth
up 5% YoY; up 3% QoQ
Adjusted expenses (Q4)
BRL 101 per cubic meter
Adjusted EBITDA per cubic meter change (Q4 vs Q3 / Q4 vs Q4 2024)
BRL 251/m3; up 42% vs previous quarter and 73% vs Q4 2024
Market share (Q4, total)
24.5%
Retail market share
39.8%
B2B market share (direct clients)
32.5%
Lubricants market share
21.2%
Lubrax plant utilization
around 70%
Stations added (2025)
404 service stations (100 in Q4)
Total stations
about 7,400
BR Mania operations
1,517 operations
Net debt
BRL 19.1 billion
Leverage (Net debt / EBITDA?)
2.4x
CapEx (Q4)
BRL 588 million
CapEx (full year 2025)
BRL 2.0 billion
Dividends / shareholder returns
Total shareholder returns 75% (share appreciation + distributions); payout 75% with BRL 800 million in bonus shares
Comerc EBITDA
BRL 232 million
Adjusted net income (consolidated, mentioned)
BRL 568 million
Adjusted net income (alternative figure mentioned)
BRL 615 million
Accounting write-offs to be monetized
BRL 2,378 million
Net income (figure quoted)
[ 2.663 ]
Earnings Call Recording
Other Earnings Calls

Management

Mr. Ernesto Peres Pousada Jr.
CEO & Member of Executive Board
No Bio Available
Mr. Augusto Ribeiro Junior
Executive VP of Corporate Finance, Strategy & IR and Member of Executive Board
No Bio Available
Mr. Marcelo Fernandes Braganca
Executive VP of Operations & Supply and Member of Executive Board
No Bio Available
Mr. Flavio Coelho Dantas
Executive VP of Retail Commercial & Member of Executive Board
No Bio Available
Mr. Henry Daniel Hadid
VP of Legal & Institutional Relations and Member of Executive Board
No Bio Available
Aspen Ricardo Andersen da Silva
VP of People, Technology & ESG and Member of Executive Board
No Bio Available
Ms. Vanessa Gordilho
VP of Business & Marketing and Member of the Executive Board
No Bio Available
Clarissa Della Nina Sadock Accorsi
Member of Management Board & Renewable Energy
No Bio Available
Mr. Juliano Junqueira de Andrade Prado
Executive VP of B2B Commercial & Aviation and Member of Executive Board
No Bio Available
Rogerio Fuchs
Head of Investor Relations
No Bio Available

Contacts

Address
RIO DE JANEIRO
Rio de Janeiro
Rua Correia Vasques n 250 4 andar, Cidade Nova
Contacts
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