Multiplan’s Q3 2025 Revenue Climbs as Net Income Falls on Higher Finance Costs

Overview

• Financial result turned to a R$162.8 million loss, with financial expenses up 135% to R$200.2 million, which the company partly tied to the November 2024 R$2.0 billion share buyback.
• Ebitda rose 8.6% to about R$435.6 million with a 70.5% margin, reflecting resilient mall operations.
• Portfolio metrics improved, with occupancy at 96.3% and net delinquency at -1.9%, the best level in the series.
• Operating cash flow fell 21.4% to R$238.4 million as higher financing costs offset revenue gains.
• Capital moves included R$93.2 million in property sales and the purchase of an additional 7.5% of BarraShopping for R$362.5 million; net debt reached roughly R$4.43 billion with leverage at 2.26x, and management noted SSS growth slowed to 4.8% in Q3 but was tracking about 8% through Oct. 26.