Intelbras (INTB3) investor relations material

Executive summary

• Net operating revenue reached R$1,110.6 million, up 20.6% year-over-year, driven by a lower comparative base, strong operational leverage, and expected seasonality.

• EBITDA totaled R$156.3 million, with a margin of 14.1%, up 92.6% year-over-year, reflecting robust operations.

• Net income was R$153.1 million, up 11% sequentially and 148.5% year-over-year, with a net margin of 13.8%.

• Deferred income tax recognition positively impacted results, reversing the previous quarter's effect.

• ROIC (pre-tax) improved to 17.7%, up 2.6 p.p. from 4Q25 and 3.9 p.p. from 1Q25, reflecting operational discipline.

Financial highlights

• Gross profit was R$341.0 million, with a gross margin of 30.7%, stable sequentially and up 1.3 p.p. year-over-year.

• EBITDA margin improved from just under 9% to 14.1% year-over-year, reflecting strong expense control.

• Operating cash generation was strong, with cash rising from R$1,070.8 million at year-end to R$1,303.1 million at March 31.

• Operating expenses decreased 5.5% sequentially, reflecting structural adjustments and disciplined cost management.

• CapEx was low in Q1, with a major investment in Manaus land to be reflected in future quarters.

Outlook and guidance

• Management expects continued efficiency and stable or slightly higher expenses compared to 2025.

• Profitability in 1Q26 was above historical levels, partly due to lower-than-expected operating expenses, which may not recur.

• Security segment revenue is projected to grow around 5% in 2026, similar to last year.

• Ongoing focus on ROIC, disciplined capital allocation, and operational efficiency.

• Expansion of industrial footprint with new site in Manaus to support future growth and flexibility.