Tegma’s 1Q26 Results

TEGMA GESTÃO LOGÍSTICA SA (TGMA3), one of the largest logistic providers in Brazil and one of the leaders in logistics for brand new vehicles in Brazil, hereby presents its 1Q26 results.

. The quantity of vehicles transported in 1Q26 was 155,000, 7% higher than 1Q25. The market share was 22.3%, 0.5 p.p. lower YoY, due to below-market performance of key clients. The average distance in 1Q26 was 1,138 km, 11% higher vs 1Q25.
. Net revenue in 1Q26 was R$521.3 million, 18% higher YoY, reflecting the growth of the automotive logistics operation, due to the increase in the number of vehicles transported, average distance, and of Fastline’s operations.
. Gross margin in 1Q26 was 16.1%, 3.1 p.p. lower YoY, driven by reduced revenue from yard operations and a temporary lag in passing through diesel price increases in the automotive division.
. EBITDA in 1Q26 was R$74.2 million, a 14.2% margin, 1.4 p.p. lower than the 1Q25 EBITDA margin, driven by the decline in gross margin, partially offset by lower operating expenses.
. Net income in 1Q26 was R$38.8 million, 11.3% lower than in 1Q25, representing a 2.5 p.p. reduction in net margin, reaching 7.4%. This result is attributed to the decline in operating margin, higher financial expenses, and reduced equity income.
. Free cash flow in 1Q26 was positive at R$71.2 million, mainly due to the company’s operational performance and to the release of working capital versus Dec/25, typically observed in the first months of the year.
. The return on invested capital in 1Q26 was 30.4%, a 1.3 p.p. decrease compared to 4Q25, primarily driven by lower operating profit across both divisions.
. Net cash in March 2026 was R$59 million, compared to net debt of R$12 million in December 2025, this represents a reversal primarily driven by the period’s free cash flow.

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Results conference call
Tuesday, May 5, 2026
3:00 pm (Brasília)
2:00 pm (US-EST)
[Portuguese with simultaneous translation to English]
Zoom Webcast: click here