CTAX3: quote, dividends and indicators for ATMA Participações

ATMA Participações S.A., which reverted to the corporate name Contax Participações S.A. in May 2025, is a publicly held company with common shares traded on B3 under the ticker CTAX3. The company was incorporated on July 31, 2000 as Caroaci Participações S.A., later changing its name to Contax Participações S.A. in 2004, Liq Participações S.A. in 2018, and ATMA Participações S.A. in 2020, reflecting different phases of corporate and business portfolio reorganization. In 2005, it obtained registration with B3 and the SEC, starting the trading of its shares in the Brazilian market and of ADRs in the North American over-the-counter market. Over the following years, it carried out several corporate transactions, reverse stock splits and stock splits, migrations between listing segments and capital restructurings, including the adoption of Units traded under the code CTAX11 and subsequent migration to the Novo Mercado in 2016, with increased free float and enhanced corporate governance practices.

The company has consolidated itself as an operational holding focused on equity interests in other companies, in Brazil and abroad, with an emphasis on services. Currently, Contax directly controls three main companies: Contax S.A., Elfe Operação e Manutenção S.A. and Solvian Tecnologia e Integração. Through these subsidiaries, the holding is part of one of the largest service provision groups in the country in the areas of customer care (contact center and trade marketing), industrial maintenance and facilities, as well as information technology and operations monitoring. Its business structure is typically that of a services holding company, centralizing strategic decisions, capital allocation, financial management and results consolidation, while operational execution takes place in the specialized subsidiaries.

The Customer Care segment, concentrated in Contax S.A., is the group’s main business, accounting for 91.06% of consolidated net revenue in 2024. This operation combines CRM (Client Relationship Management) and BPO (Business Process Outsourcing) solutions, operating across multiple relationship channels, both physical and digital. The solutions encompass sales operations, product demonstrations, customer retention and user support, as well as customer service via social networks, voice, messaging apps, chats and other remote channels. In trade marketing, the company operates directly at points of sale, in stores and retail chains, focusing on the promotion and sale of products and services for large corporate clients. The operation is supported by information and communication technology services that include project development, platform implementation and partial or full outsourcing of the technological environments of customer care centers.

The Industrial Maintenance and Facilities segment, operated mainly by Elfe Operação e Manutenção S.A., accounts for 8.94% of 2024 net revenue and adds to the group a service portfolio focused on industrial plants and large-scale facilities. In industrial maintenance, Elfe provides operation and maintenance services with intensive use of technology, processes and equipment aimed at productivity gains and cost reduction, often under medium- and long-term contracts. In facilities, its activities include technical building operation and maintenance, cleaning and conservation, green area maintenance, access control and predictive maintenance using sensors and other technologies. This combination positions the group both in labor-intensive services and in contracts of higher technical complexity, with significant exposure to industrial and infrastructure sectors.

Solvian Tecnologia e Integração complements the portfolio as a technology company focused on increasing clients’ operational efficiency through real-time monitoring and management solutions. Solvian’s offerings use artificial intelligence, Internet of Things (IoT), analytics, business intelligence (BI) and SaaS models to monitor environments and manage operations. Its activities extend to multiple segments, such as industry, workplaces, retail, banks, telecommunications and hospital healthcare, functioning as a technological layer that integrates operational data, generates insights and supports management decisions. Although consolidated revenue is heavily concentrated in Customer Care, Solvian’s presence reinforces the group’s technological component, especially in supporting contact center and maintenance operations.

Contax Participações’ market is essentially domestic, with significant revenue concentrated in Brazil and no material revenue generated abroad. Historically, the group had international contact center and trade marketing operations in Latin America through Allus and Ability Colombia, but these operations were discontinued by 2016, with the sale of the international division and closure of the branches. In 2024, the revenue base is entirely attributable to the Brazilian market and the group maintains a physical presence with units in all regions of the country. As of December 31, 2024, the company reported approximately 12,547 direct employees, distributed across customer care, maintenance and technology operations on a national scale, a typical characteristic of service- and labor-intensive businesses.

Contax’s client base is concentrated in large corporate groups, especially in the telecommunications, financial and oil and gas sectors. In 2024, TIM, Oi, Itaú Unibanco and Petrobras were among the main clients, with particular emphasis on TIM, which accounted for 54.73% of consolidated net revenue, mostly in the Customer Care segment. Oi and Itaú Unibanco also contribute a relevant share of revenue in this same segment, while Petrobras is mainly related to Industrial Maintenance and Facilities services. This concentration in large mobile telephony, financial services and energy industry clients gives the group significant exposure to large-scale corporate contracts that are intensive in customer care volume and technical operations.

From a regulatory standpoint, Contax Participações does not operate in any specific regulated sector that requires sectoral concessions or government authorizations, operating under the general service provision regime. In the contact center segment, its activities are carried out under the framework of Federal Law 13,429/17, which regulates outsourcing of services in Brazil, providing greater legal certainty for contracts with large clients. The company also benefits from municipal and state tax incentive programs related to ISS and ICMS, mainly linked to the call center and maintenance sectors, subject to requirements such as job creation and increased revenue in certain locations. The company does not report any material dependence on patents, trademarks, concessions or royalty contracts to enable its operations.

In environmental, social and governance (ESG) matters, the company reports that it does not, as yet, disclose a specific report or systematized inventory of sustainability indicators, climate-related metrics or greenhouse gas emissions. As its operating activities are service-intensive and do not involve industrial transformation processes, its exposure to typical base-industry environmental liabilities is reduced. Management states that it evaluates its social, environmental and governance initiatives with the intention of, over a medium-term horizon, building a consistent track record that will enable structured reporting and the continuous improvement of these practices. The corporate governance model is shaped by the fact that it is a publicly traded company listed on B3, subject to CVM rules, the requirements of its listing segment and the typical demands of companies with dispersed shareholding and a track record in domestic and international capital markets.