Brazil’s Vivara Posts 28.5% Q4 Profit Jump but Margin Squeeze Signals the Cost of Expansion

2026-03-19 - 12:40

3 Key Points —Vivara reported adjusted net income of R$264.8 million ($51M) in Q4 2025, a 28.5% year-over-year increase driven by EBITDA growth earlier in the year and a lower effective tax rate following R$41.2 million ($8M) in interest-on-capital (JCP) payments — but adjusted EBITDA fell 4.8% to R$286.1 million ($55M) and the EBITDA margin