EMAE (B3: EMAE4) financial statements
The consolidated income statement, balance sheet and cash flow statement of EMAE for its last 10 fiscal years, as filed with the regulator, in millions of Brazilian reais. At the end of fiscal 2025 it had BRL 1,770m in total assets and BRL 594.8m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BRL 476.9m | BRL 621.4m | BRL 603.3m | BRL 532.7m | BRL 529.0m | BRL 447.1m | BRL 439.0m | BRL 316.4m | BRL 209.5m | BRL 206.6m |
| Cost of sales | BRL 253.1m | BRL 416.2m | BRL 442.8m | BRL 486.7m | BRL 384.1m | BRL 240.5m | BRL 355.5m | BRL 255.3m | BRL 186.3m | BRL 173.7m |
| Gross profit | BRL 223.7m | BRL 205.2m | BRL 160.5m | BRL 46.0m | BRL 144.9m | BRL 206.6m | BRL 83.5m | BRL 61.2m | BRL 23.2m | BRL 32.9m |
| Operating profit | −BRL 344.9m | −BRL 9.8m | BRL 77.3m | −BRL 30.2m | BRL 56.1m | BRL 143.1m | BRL 34.9m | BRL 1.3m | BRL 110.5m | −BRL 0.4m |
| Profit before tax | −BRL 223.0m | BRL 53.1m | BRL 159.3m | BRL 78.2m | BRL 190.1m | BRL 271.0m | BRL 123.8m | BRL 83.5m | BRL 156.2m | BRL 77.5m |
| Income tax | −BRL 89.6m | −BRL 1.6m | BRL 8.9m | BRL 10.2m | BRL 40.2m | BRL 72.6m | BRL 31.2m | −BRL 18.0m | BRL 37.0m | BRL 22.5m |
| Net profit | −BRL 133.4m | BRL 54.7m | BRL 150.5m | BRL 68.0m | BRL 149.9m | BRL 198.5m | BRL 92.6m | BRL 101.5m | BRL 119.1m | BRL 55.0m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | BRL 1,770m | BRL 2,087m | BRL 2,087m | BRL 1,991m | BRL 1,633m | BRL 1,711m | BRL 1,500m | BRL 1,339m | BRL 1,245m | BRL 1,126m |
| Current assets | BRL 495.3m | BRL 673.0m | BRL 915.1m | BRL 890.4m | BRL 524.2m | BRL 741.8m | BRL 601.2m | BRL 418.0m | BRL 273.8m | BRL 222.3m |
| Cash | BRL 379.9m | BRL 311.3m | BRL 426.3m | BRL 436.7m | BRL 311.1m | BRL 518.7m | BRL 412.9m | BRL 232.4m | BRL 136.2m | BRL 80.3m |
| Total liabilities | BRL 1,175m | BRL 902.6m | BRL 998.8m | BRL 866.5m | BRL 894.9m | BRL 992.9m | BRL 510.1m | BRL 469.8m | BRL 425.2m | BRL 402.8m |
| Current liabilities | BRL 161.1m | BRL 133.5m | BRL 152.1m | BRL 106.7m | BRL 129.2m | BRL 433.6m | BRL 124.7m | BRL 137.2m | BRL 96.4m | BRL 94.4m |
| Equity | BRL 594.8m | BRL 1,185m | BRL 1,088m | BRL 1,124m | BRL 737.7m | BRL 718.5m | BRL 990.2m | BRL 868.9m | BRL 819.9m | BRL 722.9m |
| Equity including minorities | BRL 594.8m | BRL 1,185m | BRL 1,088m | BRL 1,124m | BRL 737.7m | BRL 718.5m | BRL 990.2m | BRL 868.9m | BRL 819.9m | BRL 722.9m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | −BRL 89.2m | BRL 81.8m | BRL 91.4m | BRL 58.7m | BRL 99.7m | BRL 115.1m | BRL 149.4m | BRL 66.1m | BRL 4.1m | −BRL 40.5m |
| Investing cash flow | BRL 157.7m | −BRL 141.7m | BRL 4.7m | BRL 100.1m | BRL 41.7m | BRL 58.1m | BRL 65.6m | BRL 71.1m | BRL 73.3m | BRL 80.9m |
| Financing cash flow | BRL 0.1m | −BRL 55.1m | −BRL 106.5m | −BRL 33.1m | −BRL 349.1m | −BRL 67.4m | −BRL 34.5m | −BRL 41.0m | −BRL 21.5m | −BRL 10.2m |
| Dividends paid | — | −BRL 55.1m | −BRL 106.5m | −BRL 29.6m | −BRL 282.9m | −BRL 60.6m | −BRL 27.7m | −BRL 34.3m | −BRL 14.8m | −BRL 3.6m |
Where each figure comes from
From the annual financial statements (DFP) that EMAE files with the CVM, the Brazilian securities regulator. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the EMAE page.
More companies from Brazil and the rest of the region: Latin American stocks.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.