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SA

Samuel Alves

Research Analyst at Banco BTG Pactual S.A.

Brazil

Samuel Alves is an Equity Research Analyst at BTG Pactual, focused on the coverage of Brazilian healthcare and pharmaceutical companies including Qualicorp, Afya, and Hypera. He has delivered notable coverage with recommendations such as Buy for Afya—where his price objective aligns with top sector benchmarks—and Neutral for Qualicorp and Hypera, maintaining sector consensus stability across his coverage universe. Alves has been actively updating recommendations and price targets in 2024-2025 and is recognized for detailed fiscal forecasting, such as projecting net revenue and EBITDA for Afya. His prior career history and professional credentials, including securities licensing or FINRA registration, are not publicly listed, but his consistent coverage for leading institutions highlights his recognized expertise within Brazil’s capital markets.

Samuel Alves's questions to Afya (AFYA) leadership

Question · Q4 2025

Samuel Alves (UBS) asked about Afya's capital allocation priorities for the next 3-5 years, specifically how it ranks opportunities like medical school consolidation, non-higher education investments, share buybacks, and dividends, and how these might compete.

Answer

CFO Luis André Blanco highlighted Afya's strong free cash flow (>BRL 1 billion in 2025) enables flexible capital allocation. He stated M&A targets 200 seats/year with >20% nominal unleveraged IRR. Shareholder returns combine buybacks (when shares are undervalued) and dividends, aiming for maximum value while maintaining conservative leverage (reduced from 1.2x to 0.8x in 2025). CEO Virgilio Gibbon added that cash flow funds organic improvements, digital platform integration, and future acquisitions, while also distributing significant value to shareholders.

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Samuel Alves's questions to AUNA (AUNA) leadership

Question · Q4 2024

Samuel Alves inquired about the expected growth breakdown by geography for 2025 and the company's recent and potential future liability management initiatives, including any asset divestments.

Answer

Executive Chairman and President Suso Zamora stated that while the internal goal is 20% EBITDA growth, the company is cautious about providing formal guidance for 2025 due to uncertainties in Colombia. He anticipates Mexico will show substantial growth. CFO and EVP Gisele Remy discussed liability management, noting the recent refinancing of 2025 bonds and the active evaluation of further refinancing alternatives given the company's improved credit profile.

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Fintool can predict AUNA logo AUNA's earnings beat/miss a week before the call