Producer of soft beverages, beers & wines.
Tempo delivered a sharp jump in revenue and profitability in 2025, but the center of the story has shifted from growth itself to liquidity, working capital, and the digestion of the GBC acquisition.
Tempo is not suffering from weak operating cash generation. It is dealing with a gap between the business's cash-earning power and the number of uses already sitting on that cash, so its 2025 flexibility is defined mainly by short-term credit, leases, and dividends rather than b…
GBC entered Tempo's financial statements less like a brand deal bought on a multiple, and more like a heavy operating business with large goodwill, active debt, and a PUT liability that already changes the balance-sheet structure.
