Mauricio Sepeira's questions to Afya Ltd (AFYA) leadership • Q2 2025
Question
Mauricio Sepeira from Morgan Stanley inquired about the M&A environment, asking if sellers are under pressure and how the recent wave of new medical seats has impacted diligence. He also asked about the new share buyback program and its trade-off between shareholder returns and stock liquidity.
Answer
CFO Luis Blanco stated that in the current M&A environment, factors like brand reputation and location are becoming even more critical in determining transaction prices. Regarding the buyback, he positioned it as a key component of capital allocation to enhance shareholder remuneration, complementing dividends. He acknowledged a potential short-term liquidity impact but stressed the long-term benefit of increasing EPS.