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Irani Papel e Embalagem (RANI3) investor relations material
Irani Papel e Embalagem Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net revenue reached BRL 433.5 million in Q3 2025, up 4.7% year-over-year, driven by higher prices, improved operational efficiency, and sustainable packaging initiatives.
Adjusted EBITDA was BRL 146.2 million, up 15.9% year-over-year, with a margin of 33.7%.
Net profit for the quarter was BRL 42.1 million, up 5.3% year-over-year, with sequential decline due to non-recurring tax credits in 2Q25.
ROIC for the last 12 months reached 12.9%, up from 11.8% in 2024.
Operational efficiency gains and Gaia Platform projects contributed to margin improvements.
Financial highlights
Adjusted EBITDA margin improved to 33.7% in Q3 2025 from 30.5% in Q3 2024.
Net debt/Adjusted EBITDA ratio improved to 2.06x, in line with financial policy.
Dividend yield for the last 12 months was 9.85%.
Adjusted free cash flow was BRL 100.3 million, up 202% year-over-year.
Cash position at quarter-end was BRL 681.5 million, up 8.7% from the previous quarter.
Outlook and guidance
Management expects continued margin improvement as Gaia Platform projects ramp up.
Demand for corrugated cardboard is expected to remain stable through year-end, with 2% growth projected for 2026.
Prices are expected to remain stable, with no major reductions anticipated.
New investment cycles will be considered once interest rates drop and uncertainties ease.
Ongoing investments in operational efficiency and sustainability are expected to support future growth.
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