Ambipar Emergency Response 6-K, filed Apr 2, 2025
Ambipar Emergency Response (AMBIQ)
6-K
2025-04-02
For: 2025-03-31
View Original
Added on
April 06, 2026
About this 6-K
Ambipar Emergency Response filed this 6-K on April 2, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2025
Commission File Number 001-41638
AMBIPAR EMERGENCY RESPONSE
(Exact name of registrant as specified in its charter)
Avenida Angélica, nº 2346, 5th Floor
São Paulo, São Paulo, Brazil, 01228-200
Tel: +55 (11) 3429-5000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ☐ No ☒
Ambipar Parent released results for the fourth quarter and Year of 2024.
Ambipar Emergency Response informs the market that on March 28, 2025, its parent company, Ambipar Participações e Empreendimentos S.A. (“Ambipar Parent”), announced its results for Year ended December 31, 2024.
Excerpts of this announcement relating to Ambipar Emergency Response (the “Company”) are furnished as Exhibit 99.1 to this Report on Form 6-K. Financial information relating to the Company contained therein has not been audited or reviewed in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB) or any other auditing standards. While such financial information has been prepared in good faith and based on information available at the time of preparation, no assurance can be made that actual results will not change as a result of the Company’s management review of results and other factors. The Company’s results for the year ended December 31, 2024 are subject to finalization and closing of the Company’s accounting books and records (which have yet to be performed) and should not be viewed as a substitute for financial statements prepared in accordance with IFRS. Accordingly, you should not place undue reliance upon the financial information contained in Exhibit 99.1. While we do not expect that such financial information will differ materially from the Company’s actual results for the year ended December 31, 2024, we cannot assure you that such financial information will be indicative of the Company’s actual financial results for the year ended December 31, 2024 or for any future periods.
EXHIBIT INDEX
| Exhibit No. | Description | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
Date: April 1, 2025
| AMBIPAR EMERGENCY RESPONSE | ||||||||
By: | /s/Thiago da Costa Silva | |||||||
Name: | Thiago da Costa Silva | |||||||
Title: | Director | |||||||
Exhibit 99.1
AMBIPAR PARTICIPAÇÕES E EMPREENDIMENTOS S.A. - EARNINGS RELEASE 4Q24 & 2024
RESPONSE SEGMENT
4Q24 & 2024 HIGHLIGHTS
Net Revenue
| (R$ MM) | 4Q23 | 3Q24 | 4Q24 | 2023 | 2024 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | Var. 2024 2023 | ||||||||||||||||||
| Net revenue | 740.5 | 1,011.6 | 862.2 | 2,590.0 | 3,293.4 | 16.4% | (14.8%) | 27.2% | ||||||||||||||||||
| Brazil | 285.4 | 503.2 | 346.3 | 936.2 | 1,503.0 | 21.3% | (31.2%) | 60.5% | ||||||||||||||||||
| North America | 378.3 | 401.0 | 404.5 | 1,314.6 | 1,405.6 | 6.9% | 0.9% | 6.9% | ||||||||||||||||||
| Europe | 34.1 | 62.1 | 62.8 | 150.2 | 203.0 | 84.1% | 1.1% | 35.1% | ||||||||||||||||||
| LatAm (Ex Brazil) | 42.7 | 45.3 | 48.6 | 189.0 | 181.7 | 13.7% | 7.3% | (3.8%) | ||||||||||||||||||
Net revenue reached R$862.2 million in 4Q24, 16.4% higher than 4Q23, with emphasis on revenue in Europe.
The Response segment continues to demonstrate the ability to generate revenue globally by delivering preventative and emergency services that meet customer demand across international value chains. We continue to identify opportunities to replicate the Response business model and expand operations in the international geographies we serve, notably North America.
Brazil
| Brazil | 4Q23 | 3Q24 | 4Q24 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | |||||||||||||||
| Subscription | R$ mm | 52.4 | 63.9 | 71.1 | 35.6 | % | 11.2 | % | ||||||||||||
| Field Services | R$ mm | 239.8 | 309.8 | 310.2 | 29.4 | % | 0.1 | % | ||||||||||||
| High Impact Emergencies | R$ mm | 25.4 | 5.9 | 7.5 | (70.5 | %) | 27.1 | % | ||||||||||||
| Adjusted Gross Revenue¹ | R$ mm | 317.6 | 379.7 | 388.9 | 22.4 | % | 2.4 | % | ||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | 4,348 | 5.121 | 5,471 | 17.8 | % | 6.8 | % | ||||||||||||
| Available Hours | thousand hours | 2,869.7 | 3,379.9 | 3,610.9 | 17.8 | % | 6.8 | % | ||||||||||||
| Hours Worked | thousand hours | N.A. | 2,514.5 | 2,780.2 | N.A. | 10.6 | % | |||||||||||||
| Field Service Hours | thousand hours | N.A. | 2,514.4 | 2,776.1 | N.A. | 10.4 | % | |||||||||||||
| Hours in High Impact Emergencies | thousand hours | N.A. | 0.2 | 4.1 | N.A. | 2345.6 | % | |||||||||||||
| Region Utilization Rate | % | N.A. | 74.4 | % | 77.0 | % | N.A. | 2.6 | % | |||||||||||
| Revenue Per Hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 123.2 | 111.8 | N.A. | (9.3 | %) | |||||||||||||
| High Impact Emergencies | R$/h | N.A. | 34,911.2 | 1,814.5 | N.A. | (94.8 | %) | |||||||||||||
| Revenue Per Hour | R$/h | N.A. | 151 | 139.9 | N.A. | (7.4 | %) | |||||||||||||
1- Adjusted for the sale of assets that occurred in 3Q24.
In 4Q24, gross revenue growth reached 22.4% versus 4Q23.
During the year, growth was mainly due to subscription contracts and field service activities, as well as the response to floods in Rio Grande do Sul and firefighting in the Pantanal. We also highlight revenues from the mobilization of bioengineering contracts, remediation of contaminated areas, environmental monitoring programs, as well as services for port and maritime support services, readiness for oil spill containment, and tank and ship cleaning, which were important in this increase.
In the quarter, the main response to high impact emergencies occurred to contain environmental accidents in the port sector, with a smaller ticket due to lesser complexity.
LatAm
| LatAm | 4Q23 | 3Q24 | 4Q24 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | |||||||||||||||
| Subscription | R$ mm | 6.4 | 6.2 | 6.1 | (3.5%) | (0.8%) | ||||||||||||||
| Field Services | R$ mm | 45.3 | 44.1 | 54.7 | 20.6% | 23.9% | ||||||||||||||
| High Impact Emergencies | R$ mm | 0.0 | 0.0 | 0.0 | NM | NM | ||||||||||||||
| Gross Revenue | R$ mm | 51.7 | 50.3 | 60.8 | 17.6% | 20.9% | ||||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | 895 | 840 | 869 | (2.9%) | 3.5% | ||||||||||||||
| Available Hours | thousand hours | 590.7 | 554.4 | 573.5 | (2.9%) | 3.5% | ||||||||||||||
| Hours Worked | thousand hours | N.A. | 442.9 | 440.9 | N.A. | (0.4%) | ||||||||||||||
| Field Service Hours | thousand hours | N.A. | 442.9 | 440.9 | N.A. | (0.4%) | ||||||||||||||
| Hours in High Impact Emergencies | thousand hours | N.A. | 0.0 | 0.0 | N.A. | NM | ||||||||||||||
| Region Utilization Rate | % | N.A. | 79.9 | % | 76.9 | % | N.A. | (3.0%) | ||||||||||||
| Revenue Per Hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 99.6 | 124.0 | N.A. | 24.5% | ||||||||||||||
| High Impact Emergencies | R$/h | N.A. | 0,0 | 0,0 | N.A. | NM | ||||||||||||||
| Revenue Per Hour | R$/h | N.A. | 113.6 | 137.9 | N.A. | 21.4% | ||||||||||||||
The 17.6% growth in gross revenue in 4Q24 vs. 4Q23 demonstrated a resumption of growth in LatAm. The Company increased field service revenues by performing higher value-added services, reflected in a 21.4% increase in revenue per hour.
With the lower utilization rate, there was a compression of the EBITDA margin compared to previous quarters. In any case, we had a stable margin in 2024 compared to 2023 and, with the aim of increasing profitability, we started a process of reducing expenses at the end of the year.
Europe
| Europe | 4Q23 | 3Q24 | 4Q24 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | |||||||||||||||
| Subscription | R$ mm | 1.5 | 1.1 | 1.1 | (27.6%) | (2.2%) | ||||||||||||||
| Field Services | R$ mm | 41.1 | 46.7 | 62.7 | 52.5% | 34.1% | ||||||||||||||
| High Impact Emergencies | R$ mm | 0.0 | 26.4 | 14.7 | NM | NM | ||||||||||||||
| Gross Revenue | R$ mm | 42.6 | 74.2 | 78.5 | 84.1% | 5.7% | ||||||||||||||
| Hours and Labor | ||||||||||||||||||||
| Workforce | # people | 139 | 132 | 131 | (5.8%) | (0.8%) | ||||||||||||||
| Available Hours | thousand hours | 91.7 | 87.1 | 86.5 | (5.8%) | (0.8%) | ||||||||||||||
| Hours Worked | thousand hours | N.A. | 58.8 | 70.8 | N.A. | 20.4% | ||||||||||||||
| Field Service Hours | thousand hours | N.A. | 45.3 | 63.3 | N.A. | 39.7% | ||||||||||||||
| Hours in High Impact Emergencies | thousand hours | N.A. | 13.5 | 7.5 | N.A. | NM | ||||||||||||||
| Region Utilization Rate | % | N.A. | 67.5% | 81.9% | N.A. | 14.4% | ||||||||||||||
| Revenue per hour | ||||||||||||||||||||
| Field Services | R$/h | N.A. | 1,031.7 | 990.3 | N.A. | (4.0%) | ||||||||||||||
| High Impact Emergencies | R$/h | N.A. | 1,946.3 | 1,946.3 | N.A. | NM | ||||||||||||||
| Revenue Per Hour | R$/h | N.A. | 1,261.5 | 1,107.8 | N.A. | (12.2%) | ||||||||||||||
Gross revenue grew 84.1% versus 4Q23 in Europe, driven by increases in field services and high impact emergencies. The region has increased its cross-sell capacity by selling routine emergency services and industrial cleaning, and has been a reference for containing oil spills in international waters. This quarter, we recognized the remainder of the result of a major incident for fighting fires and containing an oil and fuel spill in the Red Sea. Ambipar sent teams and materials from England and Brazil to respond to this human and environmental incident.
North America
| North America | 4Q23 | 3Q24 | 4Q24 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | |||||||||||||||
| Subscription | R$ mm | 32.4 | 31.4 | 28.4 | (12.3%) | (9.6%) | ||||||||||||||
| Field Services | R$ mm | 340.2 | 355.6 | 382.8 | 12.5% | 7.6% | ||||||||||||||
| High Impact Emergencies | R$ mm | 7.2 | 26.6 | 5.0 | NM | NM | ||||||||||||||
| Gross Revenue | R$ mm | 379.8 | 413.6 | 416.2 | 9.6% | 0.6% | ||||||||||||||
| Workforce | # people | 1,095 | 1,313 | 1,346 | 19.9% | 2.5% | ||||||||||||||
| Available Hours | thousand hours | 722.7 | 866.6 | 888.4 | 19.9% | 2.5% | ||||||||||||||
| Hours Worked | thousand hours | N.A. | 541.2 | 643.6 | N.A. | 18.9% | ||||||||||||||
| Field Service Hours | thousand hours | N.A. | 515.0 | 642.1 | N.A. | 24.7% | ||||||||||||||
| Hours in High Impact Emergencies | thousand hours | N.A. | 26.2 | 1.4 | N.A. | NM | ||||||||||||||
| Region Utilization Rate | % | N.A. | 62.5% | 72.4% | N.A. | 10.0% | ||||||||||||||
| Field Services | R$/h | N.A. | 690.5 | 596.1 | N.A. | (13.7%) | ||||||||||||||
| High Impact Emergencies | R$/h | N.A. | 1.012,8 | 3.485,0 | N.A. | NM | ||||||||||||||
| Revenue Per Hour | R$/h | N.A. | 764.2 | 646.7 | N.A. | (15.4%) | ||||||||||||||
Gross revenue growth in North America of 9.6% versus 4Q23 reflects a positive performance mainly in the US, and a revenue gain due to the stronger US and Canadian dollars against the real.
Throughout the year, we invested in sales to win contracts and, as a result, we had an increase in people and available hours. In Canada, the strategy of reallocating equipment and personnel to serve different customers continues. In the US, the focus is on ramping up bases and opening new locations. We also began work to optimize costs and strengthen leadership in the region.
In emergency response, cross-selling between crisis management consulting services for the shipping industry and our ability to perform field services made it possible to provide cleaning, decontamination and debris removal services in a maritime accident that has been ongoing since 3Q24, but is already in its final phase in 4Q24.
Cost breakdown
| R$ MM | 4Q23 | 3Q24 | 4Q24 | 2023 | 2024 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | Var. 2024 2023 | ||||||||||||||||||
| Personnel | 300.0 | 347.3 | 386.3 | 1,051.1 | 1,352.5 | 28.8% | 11.2% | 28.7% | ||||||||||||||||||
| Third parties | 123.4 | 132.0 | 149.1 | 407.1 | 482.9 | 20.9% | 13.0% | 18.6% | ||||||||||||||||||
| Maintenance | 27.3 | 25.7 | 32.3 | 94.5 | 115.1 | 18.2% | 25.6% | 21.8% | ||||||||||||||||||
| Travels | 12.2 | 21.7 | 22.5 | 68.2 | 75.8 | 84.1% | 3.5% | 11.1% | ||||||||||||||||||
| Freight | 0.4 | 2.6 | 0.7 | 3.9 | 5.5 | 80.4% | (72.3%) | 42.4% | ||||||||||||||||||
| Rentals | 0.2 | (0.2) | 0.2 | 1.5 | 0.2 | (24.1%) | (200.2%) | (88.5%) | ||||||||||||||||||
| Fuel | 18.0 | 22.9 | 29.9 | 59.5 | 88.8 | 66.2% | 30.4% | 49.3% | ||||||||||||||||||
| Materials | 11.5 | 32.8 | 13.3 | 29.1 | 69.7 | 15.9% | (59.4%) | 139.3% | ||||||||||||||||||
| Telecommunications | 4.1 | 6.3 | 6.1 | 14.4 | 21.0 | 47.8% | (4.1%) | 46.4% | ||||||||||||||||||
| Marketing | 4.6 | 6.4 | 6.3 | 17.6 | 23.2 | 36.6% | (1.4%) | 31.4% | ||||||||||||||||||
| Taxes | 6.1 | 10.4 | 10.9 | 22.2 | 31.1 | 78.6% | 4.7% | 39.9% | ||||||||||||||||||
| Others | 35.6 | 154.4 | (8.6) | 250.2 | 181.0 | (124.2%) | (105.6%) | (27.7%) | ||||||||||||||||||
| Total Cost | 543.4 | 762.4 | 648.9 | 2,019.3 | 2,446.7 | 19.4% | (14.9%) | 21.2% | ||||||||||||||||||
| Adjusted Total Cost | 543.4 | 636.4 | 648.9 | 1,897.4 | 2,320.7 | 19.4% | 2.0% | 22.3% | ||||||||||||||||||
In this quarter, costs behaved in accordance with the business mix, with an increase in the Personnel, Third Party and Travel lines, due to the increase of 350 employees, hiring of third parties and travel for emergency response, except for the Others line, which reduced in the quarter due to the reversal of various provisions.
Excluding the effects of demobilization, costs grew 19.4% versus 4Q23 and 2.0% versus 3Q24, still outpacing revenue growth. This is partly due to the mix effect due to the recognition of costs related to 3Q24 and measured in 4Q24.
CAPEX Response
| CAPEX Response (R$ MM) | 4Q23 | 3Q24 | 4Q24 | 2023 | 2024 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | Var. 2024 2023 | ||||||||||||||||||
| Maintenance | 55,7 | 28,9 | 52,5 | 140,4 | 151,3 | (5,7%) | 81,4% | 7,7% | ||||||||||||||||||
| %Net Revenue Response | 7,5% | 2,9% | 6,1% | 5,4% | 4,6% | (1,4 p.p.) | 3,2 p.p. | (0,8 p.p.) | ||||||||||||||||||
| Expansion | 23,2 | 64,6 | 24,5 | 125,1 | 130,6 | 5,6% | (62,1%) | 4,4% | ||||||||||||||||||
| %Net Revenue Response | 3,1% | 6,4% | 2,8% | 4,8% | 4,0% | (0,3 p.p.) | (3,5 p.p.) | (0,9 p.p.) | ||||||||||||||||||
| Capex Response Total | 78,9 | 93,6 | 77,0 | 265,5 | 281,9 | (2,4%) | (17,7%) | 6,2% | ||||||||||||||||||
| %Net Revenue Response | 10,6% | 9,3% | 8,9% | 10,3% | 8.6% | (1.7 pp) | (0.3 pp) | (1.7 pp) | ||||||||||||||||||
| Regional segmentation | 4Q23 | 3Q24 | 4Q24 | 2023 | 2024 | Var. 4Q24 4Q23 | Var. 4Q24 3Q24 | Var. 2024 2023 | ||||||||||||||||||
| Brazil | 37.7 | 55.3 | 40.9 | 138.6 | 150.8 | 8.5% | (25.9%) | 8.8% | ||||||||||||||||||
| Latam (ex Brazil) | 0.4 | 6.6 | 1.5 | 37.1 | 12.3 | 262.5% | (76.4%) | (66.9%) | ||||||||||||||||||
| Europe | 0.2 | 3.1 | 5.9 | 5.3 | 15.3 | NM | 92.2% | 187.6% | ||||||||||||||||||
| North America | 40.5 | 28.7 | 28.6 | 84.5 | 103.6 | (29.4%) | (0.3%) | 22.7% | ||||||||||||||||||
| % CAPEX of revenue by segment | ||||||||||||||||||||||||||
| Brazil | 13.2% | 11.0% | 11.8% | 14.8% | 10.0% | (1.4 pp) | 0.8 pp | (1.0 pp) | ||||||||||||||||||
| Brazil Adjusted | 13.2% | 16.4% | 11.8% | 14.8% | 11.3% | (1.4 pp) | (4.6 pp.) | (5.1 pp.) | ||||||||||||||||||
| Latin (from Brazil) | 1.0% | 14.5% | 3.2% | 19.6% | 6.7% | 2.2 pp. | (11.3 pp.) | (7.8 pp.) | ||||||||||||||||||
| Europe | 0.6% | 5.0% | 9.4% | 3.5% | 7.5% | 8.8 pp | 4.5 pp | 2.6 pp | ||||||||||||||||||
| North America | 10.7% | 7.1% | 7.1% | 6.4% | 7.4% | (3.6 pp) | (0.1 pp) | 0.2 pp | ||||||||||||||||||
| % Adjusted NR Response | 10.6% | 11.1% | 8.9% | 10.3% | 9.0% | (1.7 pp) | (2.1 pp) | (1.2 pp) | ||||||||||||||||||
In 4Q24, the addition of fixed assets in Response was R$77.0 million. During the year, there was a reduction in capital expenditure in relation to revenue in Brazil and LatAm, and maintenance at relatively higher levels in Europe and North America.