Grupo Petz Cobasi reports solid growth in 2025

Petz closed the 2025 financial year with solid results ahead of its merger with Cobasi into Grupo Petz Cobasi, cleared by Brazil's competition regulator CADE in December 2025. These represent the final standalone results for Petz as an independent business. Petz recorded full-year gross revenue of R$4.3 bn ($733 mn), up 7.9% year-on-year. The final quarter contributed R$1.1 bn ($187 mn), an 8.1% annual improvement.

Both channels drove growth across 2025. Physical store gross revenue rose 8.4% to R$2.34 bn ($399 mn) for the full year, whilst Q4 physical sales grew 6.3% to R$616 mn ($105 mn). Digital sales climbed 8.5% to R$1.84 bn ($313 mn) for the year, accounting for 42.8% of total revenue. Digital momentum accelerated in Q4, reaching 12.0% annual growth and 43.6% channel penetration. Notably, 93% of digital orders were fulfilled omni-channelly ‒ either collected or shipped from physical stores. Like-for-like sales grew 8.0% in Q4 and averaged 6.2% for the full year. The services segment delivered its fifth consecutive quarter of double-digit growth, rising 10.0% in Q4 and 12.1% annually to R$135.7 mn ($23 mn) for the year.

Full-year gross profit reached R$1.69 bn ($288 mn), up 8.1%, at a stable margin of 47.0%. In Q4, gross profit was R$446 mn ($76 mn) at a 46.9% margin. Private label products were a key driver, growing 26% annually and reaching a 13.5% share of total revenue, up 1.9 percentage points year-on-year. Full-year adjusted EBITDA grew 12.4% to R$312.2 mn ($53 mn), delivering an 8.7% margin. Q4 adjusted EBITDA reached R$88.8 mn ($15 mn) at a 9.3% margin. Adjusted net income totalled R$76.7 mn ($13 mn) for the year, a 22.2% improvement on 2024, whilst Q4 adjusted net income was R$25.9 mn ($4.4 mn), up 15.7%.

Full-year free cash flow of R$203.5 mn ($35 mn) reversed a R$68 mn ($11.6 mn) outflow in 2024, leaving the business with a net cash position of R$160.7 mn ($27 n). Capital expenditure fell 21.5% to R$124.3 mn ($21 mn). Petz ended the year with 265 stores across 24 Brazilian states.

CEO Paulo Nassar confirmed that 2026 marks the start of a new chapter as a unified business. The group targets R$200–260 mn ($34–44 mn) in incremental EBITDA synergies over five years, with 80% expected from commercial optimisation, cost reduction, and store rationalisation. ERP migration is estimated to take 18–22 months, with full legal entity consolidation requiring up to 36 months.