Dimed (PNVL3) investor relations material

Executive summary

• Retail gross revenue grew 19.6% year-over-year in 2Q25 to R$1.41 billion, with strong digital, private label, and healthcare services performance.

• Adjusted EBITDA rose 42.9% to R$70.1 million, with margin expansion to 5.0%, and adjusted net income increased 39.5% to R$28.0 million.

• Opened 14 new stores in 2Q25, totaling 649 units, and achieved 21 consecutive quarters of market share gains in the Southern region.

• Digital sales accounted for 24.4% of retail revenue, with app sales up 51.3% and 6.9 million monthly active users.

• Private label sales grew 35.5% year-over-year, reaching 7.2% of retail sales and 18% penetration in Health & Beauty.

Financial highlights

• Retail gross margin reached 30.4% (+0.3 p.p. YoY), driven by higher OTC and private label penetration and pricing strategies.

• Free cash flow generation was R$33.8 million, with the cash conversion cycle improving by 8 days year-over-year.

• Net debt/Adjusted LTM EBITDA improved to 1.1x, reflecting a solid capital structure and low leverage.

• Retail EBITDA margin reached 11.1%, up 0.5 percentage points year-over-year.

• Average sales per store reached R$724,000, with mature stores at R$785,000.

Outlook and guidance

• Continued focus on digital transformation, private label expansion, and service offerings as strategic growth pillars.

• Ongoing store expansion and densification in the South, with emphasis on non-capital cities and digital channel capacity.

• Anticipates further market expansion and margin improvement with generics in the GLP-1 category in 2026.