Motiva S.A. - Results for the 2nd quarter of 2025

2Q24

2Q25

Var. %

1H24

1H25

Var. %

Consolidated Adjusted Net Revenue¹

3,488

3,563

2.2 %

6,966

7,291

4.7 %

Consolidated Adjusted EBITDA¹

2,009

2,094

4.2 %

4,075

4,450

9.2 %

Adjusted EBITDA - Toll Roads

1,498

1,535

2.5 %

3,032

3,242

6.9 %

Adjusted EBITDA - Rails

513

579

12.8 %

990

1,163

17.5 %

Adjusted EBITDA - Airports

244

294

20.5 %

519

597

15.2 %

Adjusted EBITDA - Others

(246)

(313)

27.4 %

(466)

(553)

18.7 %

Consolidated Adjusted EBITDA Margin²

57.6 %

58.8 %

1.2 p.p.

58.5 %

61.0 %

2.5 p.p.

Adjusted Net Income¹

411

398

-3.2 %

859

937

9.1 %

Net Debt/LTM Adjusted EBITDA (x)

3.1

3.7

0.6 p.p.

3.1

3.7

0.6 p.p.

Toll Roads - Vehicle Equivalents (million)

294.5

252.8

-14.2 %

595.6

556.9

-6.5 %

Rails - Passengers Transported (million)

191.2

188.9

-1.2 %

367.0

369.7

0.7 %

Airports - Boarded Passengers (million) ³

9.5

10.4

10.0 %

19.1

20.7

8.5 %

CAPEX⁴

1,628

1,779

9.3 %

2,880

3,137

8.9 %