Dimed (PNVL3) investor relations material

Executive summary

• 3Q26 retail gross revenue reached R$1.699bn, up 15.3% YoY; adjusted EBITDA rose 21.2% to R$96.8m and adjusted net income increased 35.4% to R$46.4m.

• Positive free cash flow continued for a seventh consecutive quarter, while net debt/adjusted LTM EBITDA declined to 0.8x.

• Digital engagement, store productivity and Southern Region market-share gains supported results; management remained confident in the Plan 2030 and a strong 2026 close.

Financial highlights

• Consolidated gross revenue was R$1.705bn, up 15.3% YoY; 9M26 gross revenue reached R$4.911bn, up 15.6%.

• Adjusted EBITDA was R$96.8m, with a 5.7% margin; adjusted net income was R$46.4m, with a 2.7% margin.

• Retail gross margin was 29.7%, down 0.2 p.p. YoY; selling expenses grew 12.0%, below sales growth, and diluted 0.7 p.p.

• 3Q26 operating cash flow was R$64.9m and free cash flow was R$19.9m, up 24.2% YoY.

Outlook and guidance

• 2030 ambitions include revenue of R$11.5bn–R$12bn, EBITDA margin of 6.7%–7% and up to 1,000 stores.

• Management expects two-digit Q4 sales growth despite a high comparison base; Black Friday and Christmas are key seasonal opportunities.

• Store expansion is set to continue, with renewed acceleration in 3Q26 and interior locations in Southern states identified as opportunities.

• Expense control, store and logistics productivity, automation and AI are expected to support efficiency; continued net debt reduction is planned.