Auna SA published the transcript of its Fourth Quarter 2025 earnings conference call, attended by Executive Chairman and President Suso Zamora, Chief Financial Officer and Executive Vice President Gisele Remy, Executive Vice President of Strategy and Equity Capital Markets Lorenzo Massart, and Head of Investor Relations Ana Maria Mora. Management said Mexico stabilized in Q4 and is positioned for a 2026 recovery, while Peru continued to outperform and Colombia focused on cash protection by reducing exposure to intervened payors and expanding risk-sharing contracts. The company highlighted a major debt refinancing, stronger free cash flow, and 2026 guidance calling for 12% FX-neutral revenue growth and 12% FX-neutral adjusted EBITDA growth, with CapEx around 4% of revenue. “During the fourth quarter, we stabilized our Mexico operations, which are now on a clear path to sustained top line and EBITDA growth in 2026,” the Executive Chairman and President said. The CFO noted that adjusted EBITDA fell in Q4, but emphasized improved funding costs: “Our blended rate in 2025 was closer to approximately 12.5% with the old debt structure… that rate has dropped over 100 basis points.” On Peru’s new public-private partnership project, the Executive Chairman and President said Centro Ambulatorio Trecca is expected to begin operations “in the second semester of 2028,” while the CFO added construction spending is reimbursed via EsSalud progress certificates, “which significantly reduces any capital risk.” The full transcript can be accessed through the link below.

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