Camil Alimentos (CAML3) Q4 2026 Prepared Remarks earnings summary

Executive summary

• Net revenue for 2025 was R$11.1 billion, down 9.4% year-over-year, mainly due to lower raw material prices, especially rice and sugar, despite volume growth in international and high growth categories.

• EBITDA reached R$915.3 million for the year (+0.9% YoY), with margin expansion to 8.2% (+0.8 p.p.), reflecting operational discipline and synergy capture.

• Net income for 2025 was R$148.5 million, a 31.6% decrease YoY, with a net margin of 1.3%.

• International segment volumes grew 30.6% YoY, driven by Uruguay and the integration of Paraguay, offsetting a 3.2% volume decline in Brazil.

• ESG initiatives advanced, including a new thermoelectric plant using rice husk and expanded social projects.

Financial highlights

• Gross revenue was R$12.9 billion in 2025 (-8.9% YoY); net revenue R$11.1 billion (-9.4% YoY).

• Gross profit reached R$2.5 billion (+4.3% YoY), with a margin of 22.4% (+2.9 p.p. YoY).

• EBITDA margin improved to 8.2% (+0.8 p.p. YoY); net margin declined to 1.3% (-0.4 p.p. YoY).

• Net loss in 4Q25 was R$40.3 million, compared to a loss of R$24.6 million in 4Q24.

• Capex for 2025 was R$463.4 million (+38.3% YoY ex-M&A), focused on new grain and thermoelectric plants.

Outlook and guidance

• Strategic focus remains on driving volumes in Brazil, expanding international presence, and improving profitability and efficiency.

• Continued investment in ESG, operational synergies, and innovation in product categories.