By Brazil Stock Guide – Rumo (B3: RAIL3) reported net profit of R$213 million in 4Q25, reversing a loss of R$259 million in the same quarter a year earlier, as higher grain shipments supported volumes across its rail network and helped offset weaker freight tariffs.
Adjusted net income — which excludes non-recurring items — reached R$441 million, more than doubling from R$206 million in 4Q24, reflecting stronger operational performance in the company’s core grain transport corridors.
Stronger volumes
Operational momentum was driven mainly by Brazil’s agricultural exports. Rumo transported 22.9 billion ton-kilometers (TKU) in the fourth quarter, a 15% increase year-on-year, supported by higher shipments of soybeans, corn and sugar moving from the country’s Center-West to export terminals.
The company also maintained a dominant position in Brazil’s export logistics chain. During the quarter, 65% of grain exports shipped through the Port of Santos were transported via Rumo’s rail system, underscoring the strategic importance of its network for global agricultural trade.
Growth was particularly strong in the Northern Operation, which links Mato Grosso and other grain-producing regions to Santos and remains the company’s main driver of cargo expansion.
Margins expand
Despite higher volumes, net revenue declined 3% to R$3.35 billion in 4Q25, reflecting lower average tariffs and reduced revenue from logistics solutions compared with the same period in 2024.
Even so, operational efficiency supported profitability. EBITDA totaled R$1.56 billion, a 30% increase from a year earlier, while adjusted EBITDA reached R$1.79 billion, up 7.5% year-on-year.
Margins improved accordingly, with EBITDA margin rising to 46.7%, compared with 34.7% in 4Q24, reflecting cost discipline and gains in energy efficiency across the rail network.
Strategic export corridor
Rumo remains the backbone of Brazil’s grain logistics system, linking inland agricultural regions to the country’s largest export hub. As soybean and corn production continues to expand in the interior, rail corridors connecting Mato Grosso to the Port of Santos have become increasingly critical to reducing transportation costs and supporting Brazil’s competitiveness in global commodity markets.
The company has continued investing in expanding its network and capacity, including projects such as the Ferrovia do Mato Grosso, aimed at strengthening rail connectivity across Brazil’s main agribusiness regions.
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