Camil Alimentos (CAML3) Q2 2026 Prepared Remarks earnings summary

Executive summary

• Net revenue reached BRL 3 billion in Q2 2025, up 10.9% sequentially but down 8.6% year-over-year, reflecting a high base in Q2 2024 after the Rio Grande do Sul flood.

• EBITDA was BRL 251 million, up 7.5% sequentially, with a margin of 8.4%.

• Consolidated volumes grew 6.8% year-over-year and 24.9% sequentially, driven by international operations, while Brazil volumes declined 2.1% year-over-year but improved 17% sequentially.

• Net income was BRL 78.7 million, down 33.7% year-over-year but up 19.3% sequentially, with a net margin of 2.6%.

• ESG initiatives advanced, including the publication of the 2024 Sustainability Report and recognition in B3's Corporate Sustainability Index.

Financial highlights

• Gross profit was BRL 674 million, with a gross margin of 22.6%.

• Cost of goods sold fell 10% year-over-year, mainly due to lower raw material prices.

• Net income grew 19% sequentially from Q1 2025.

• Capex was BRL 155.3 million, up 133.5% year-over-year, focused on new plant and thermoelectric project.

• Net debt stood at BRL 3.5 billion, with Net Debt/EBITDA (LTM) at 4.1x.

Outlook and guidance

• Ongoing investments in new product launches, brand strengthening, and operational efficiency, especially in high-growth categories.

• Continued expansion in key markets, including Paraguay, and focus on sustainable value generation.