Net profit from the Madero restaurant chain jumped from a modest figure of $ 2.8 million in the first quarter of last year to $ 53.2 million between January and March 2025. Gradually, the group of businessman Junior Durski resumes and left the company with a billionaire debt. In the first quarter, the chain opened two new units: a Madero Steak House in Sao Paulo and a hybrid restaurant (Madero and Jeronimo) in Curitiba. In addition, three Jeronimo restaurants were converted to this format.
“Our 2025 plan follows unchanged: we will continue to gradually accelerate expansion, always maintaining continuous search for efficiency gains, cautious cash management and the absolute focus on quality and satisfaction of our customers and employees,” says the management message, signed by Durski.
The company’s net profit drops from R $ 53.2 million to R $ 25.4 million, excluding the extraordinary benefit resulting from the Emergency Event Settlement Emergency Program (Perse). Still, the figure is almost ten times larger than that obtained a year earlier.
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The profit before interest, taxes, depreciation and amortization (EBITDA) was R $ 167 million, with an annual increase of 12.5%. Discounting the Perse, the result goes to R $ 137.3 million.
Total net revenue, in turn, reached R $ 517.1 million, with growth of 6.4% in the same time interval. Without the benefit of the emergency program, the amount is R $ 477.7 million.
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Sales in open restaurants for at least 12 months (accompanied by SSS indicator) grew 6.1% in the first quarter in the annual comparison. The hybrid format was the fastest growing in comparable sales, advancing 35.9%.
The opening of new stores boosted the capex (investments) of the company, which reached R $ 62.5 million in the period. The value is 325.2% higher than the first quarter of 2024. Only new restaurants responded for $ 42 million of this figure.
On the other hand, the company’s indebtedness also grew back in the quarter. Madero’s net financial debt reached R $ 774.5 million, R $ 211 million more over the end of last year. The Administration attributed this to increase the payment of dividends and interest on equity.
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The leverage index (Net Debt / Analized EBITDA) rose to 1.19 time, from 0.93 time in the fourth quarter of 2024.
“The small elevation in this indicator, compared to the level observed on 12/31/2024 (0.93x), is transitory, and we hope it resumes the reduction trend in the next quarters,” says the text signed by Junior Durski.
Last February, Madero raised R $ 130 million in a seventh emission of simple debentures, other R $ 70 million with private bookmarks.
