Intelbras (INTB3) investor relations material

Executive summary

• Net revenue reached R$1,246.4 million in 2Q25, up 5.1% year-over-year and 35% quarter-on-quarter, rebounding after ERP migration disruptions.

• Net income was R$136.3 million, a 15.9% increase year-over-year and 120% higher than 1Q25, with a net margin of 10.9%.

• EBITDA rose to R$154.4 million, up 90% quarter-on-quarter, with a margin of 12.4%, reflecting normalized operations post-ERP migration.

• Operations normalized after ERP migration, improving process visibility, productivity, and cash generation.

• Corporate structure reorganized, including new leadership and integration of market intelligence, channel management, and marketing to enhance agility and customer experience.

Financial highlights

• Gross margin for 2Q25 was 29.3%, stable year-over-year despite adverse PVA impacts.

• Operating cash exceeded R$225M, with cash and cash equivalents rising to R$825.6 million during the quarter.

• CapEx for 1H25 was R$59 million, down 44.3% from 1H24, with maintenance CapEx as planned and lower expansion CapEx.

• ROIC (pre-tax) was 13.6% in 2Q25, down year-over-year but up 90% sequentially, with a target to surpass 20% as capital allocation improves.

• Operating expenses increased 0.8% year-over-year, with selling expenses up 20.3% sequentially due to revenue growth.

Outlook and guidance

• Focus remains on sustainable, profitable growth, improving working capital, and maintaining or improving ROIC above 20% over time.

• Security segment expects continued growth, leveraging normalized inventories and strong market position.

• ICT segment faces a challenging environment, with cautious revenue outlook due to competition and ISP sector dynamics.

• Energy segment anticipates ongoing revenue pressure but expects growth in UPS and vehicle charger lines.

• Inventory days expected to remain at 140–150, with replenishment and financing returning to normal.