Aeris Indústria e Comércio de Equipamentos para Geração de Energia (AERI3) investor relations material

Executive summary

• Debt renegotiation covered 90% of total debt, improving financial flexibility and liquidity amid global instability and low demand.

• Export revenue increased significantly, with exports driving growth and supporting diversification despite global instability and tariff concerns.

• Net operating revenue in 2Q25 reached R$242.1 million, up 15.1% sequentially, but net loss widened to R$174.0 million due to operational and financial challenges.

• Operational performance was impacted by sector-wide oversupply, reduced demand for long-term contracts, and production cuts, but new production lines stabilized.

• The company remains focused on process improvements and market positioning despite cyclical challenges.

Financial highlights

• Net revenue for 2Q25 was R$242.1 million, a 15.1% increase from 1Q25, but a 42.7% decrease year-over-year.

• Adjusted EBITDA was negative R$18.0 million for the quarter; net loss was R$174.0 million.

• Investments in 2Q25 totaled R$6.6 million, focused on maintenance of existing projects.

• Service revenue up 29% year-over-year, representing 18% of total revenue.

• Gross margin turned negative at -1.4% in 2Q25, down 16.0 percentage points from 1Q25.

Outlook and guidance

• 2025 and 2026 expected to remain challenging, with slow growth resumption anticipated in 2026–2027.

• Export revenue surged 288% compared to 1Q25, with upward trend expected to continue into the second half and 2026.

• Market for long-term PPAs shifting to new renegotiation dynamics, with slow contract closures.

• The company expects operational improvements as new production lines mature.

• No immediate impact from increased US tariffs on Brazilian imports, but the situation is being monitored.