Camil Alimentos (CAML3) Q1 2026 Prepared Remarks earnings summary

Executive summary

• Net revenue reached BRL 2.7 billion in Q1 2025, down 7.3% year-over-year, with EBITDA of BRL 233 million and an 8.7% margin, reflecting stable profitability despite a challenging pricing environment in Brazil and strong international performance.

• Total volume was 508,000 tons, declining 2.9% YoY, mainly due to lower sales in High Turnover (-13.6% YoY) and High Growth (-3.7% YoY) segments, partially offset by a 24.4% YoY increase in International volumes.

• Net income was BRL 66 million, down 15.9% YoY, but reversed a loss from the previous quarter.

• Investments continued in new grain and thermoelectric plants, and the company advanced its entry into Paraguay.

• High turnover segment volumes dropped 14% year-over-year, mainly due to competitive pressure in the domestic sugar market.

Financial highlights

• Gross revenue was BRL 3.1 billion (-7.2% YoY), net revenue BRL 2.7 billion (-7.3% YoY), and gross profit BRL 606 million with a margin of 22.6%.

• EBITDA was BRL 233 million (-8.4% YoY), with a margin of 8.7% (-0.1 p.p. YoY); net income was BRL 66 million (-15.9% YoY), net margin 2.5%.

• SG&A expenses were 16.5% of net revenue; sales expenses fell, but general and admin expenses rose, especially personnel.

• CapEx was BRL 120 million (+90.6% YoY), focused on new plant construction and production units.

• Net debt stood at BRL 3.6 billion (+14.3% YoY), with net debt/LTM EBITDA at 4.1x for the quarter.

Outlook and guidance

• Management remains confident in growth and sector leadership, supported by strong brands, operational efficiency, and ongoing strategic initiatives.

• Ongoing investments in new projects, capacity, and digital transformation are expected to boost high-value categories and drive future growth.