Santos Brasil reports profit of R$193.4 million in the 2nd quarter

With a 3.5% increase in container movement, net revenue grew 25.3%

Santos Brasil reported revenue growth across all its business units in the second quarter of this year. Consolidated net revenue reached R$880.9 million (+25.3%), highlighted by the 27.9% increase in net revenue from container and general cargo terminals and the 123.4% increase in net revenue from liquid bulk. The Company's net income totaled R$193.4 million (+12.6%), with a net margin of 22.0% (-2.5%).

Consolidated EBITDA reached R$456.7 million in 2Q25 (+35.2% YoY), with a margin of 51.8% (+3.8 pp). The performance was driven by the container and general cargo terminals, which posted EBITDA of R$437.3 million (+41.9% YoY) and a margin of 62.9% (+6.2 pp YoY), and by the liquid bulk terminals, whose EBITDA was R$21.0 million in 2Q25 (+189.2% YoY), with a margin of 77.2% (+17.5 pp).

Santos Brasil's container terminals handled 382,398 units in 2Q25 (+3.5% YoY), with a higher share of empty containers (+26.8% YoY), which represented 30.5% of the total handled in the quarter (vs. 24.9% in 2Q24). Cabotage operations grew 17.0% YoY in 2Q25, while long-haul operations remained stable compared to 2Q24. Another highlight was the 32% YoY reduction in transshipment operations in 2Q25.

Tecon Santos handled 340,900 containers in 2Q25 (+5.2% YoY), with growth primarily in cabotage flow (+27.2% YoY). In long-haul (+0.6% YoY), the moderate growth reflected the reorganization of some services at the Santos terminal, which occasionally resulted in fewer calls throughout April. Starting in May, with the launch of the new SEAS3 service, operated by CMA CGM, connecting Asia with the East Coast of South America, a recovery in long-haul volumes was observed.

In 2Q25, Tecon Vila do Conde handled 22,969 containers (+3.5% YoY), driven by increased call frequency and an increase in the average consignment volume of deep-sea vessels. Tecon Imbituba, in turn, saw a 20.2% YoY decline, primarily impacted by missed calls on long-sea services.

At Santos Brasil Logística, container storage at CLIAs fell 6.3% YoY and pallet movement fell 62.1% YoY.

TEV registered a 32.9% YoY increase in vehicle movement, driven by the continued recovery in shipments of light vehicles destined for the Argentine market, in addition to growing exports of heavy vehicles.

Liquid bulk terminals showed a significant increase of 34.2% YoY in the volume of fuel handled, reflecting the expansion in capacity, which made it possible to attract new customers and expand the scope of current contracts.

In 2Q25, CapEx totaled R$120.9 million, with highlights including: capacity expansion and modernization of Tecon Santos' equipment fleet; acquisition, assembly, and maintenance of operational equipment at the Vila do Conde and Imbituba terminals; expansion and development projects at the Liquid Bulk Terminal (TGL02); and acquisition of new equipment for logistics operations.