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Dimed (PNVL3) investor relations material
Dimed Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 14.3% year-over-year retail revenue growth in Q3 2025, reaching R$1.5 billion, with strong digital and private label performance and record productivity.
Opened 51 new stores in the last 12 months, totaling 651 units, and maintained market leadership in the South with 22 consecutive quarters of share gains.
Digital sales surged 42.4% year-over-year, accounting for 26.4% of retail revenue, with the app representing 54.1% of digital sales.
Private label sales grew 32.6% year-over-year, now representing 7.3% of retail sales and 37.6% share in the southern region.
Achieved positive free cash flow for the third consecutive quarter, surpassing established targets.
Financial highlights
Adjusted EBITDA reached R$79.9 million in Q3 2025, up 11.3% year-over-year, with a 5.4% margin.
Adjusted net income was R$34.3 million, with a 2.3% margin, the highest nominal and percentage result of 2025.
Free cash flow generation was R$16 million, with operating cash flow over R$73 million and a cash conversion cycle improved by 6 days year-over-year.
Debt level is the lowest in the pharma industry, with net debt/EBITDA at 1.0x and average debt cost at CDI -1.3%.
Retail gross margin stood at 29.9%, stable despite pressure from GLP-1 medications.
Outlook and guidance
Optimistic for Q4, historically the strongest quarter, and for 2026, with continued focus on digital, private label, and generics.
Management committed to sustainable growth, capital structure strengthening, and further market share gains, especially in the South.
Plans to expand digital and private label initiatives and explore growth in interior markets.
Anticipate improved returns as recent investments normalize and ROIC trends toward 11%.
Next Dimed earnings date
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