Kepler Weber (KEPL3) investor relations material

Executive summary

• Net revenue for 2Q26 was R$299.1 million, down 3.9% year-over-year, with EBITDA of R$25.9 million (margin 8.7%) and net income of R$6.3 million (margin 2.1%), reflecting lower activity and margin pressure amid sector headwinds.

• Diversification into Agribusiness (+17.9%) and Replacement & Services (+5.0%) partially offset a 13.2% drop in Farms, strengthening resilience and supporting strategic execution.

• The company maintained a positive net cash position of R$29.3 million at quarter-end, preserving financial flexibility and supporting growth strategy.

• Strong client relationships and engagement were maintained, with high NPS and GPTW scores, and 75% of revenue from repeat clients.

• Diversification strategy advanced, with Agribusiness, International, Ports & Terminals, and Replacement & Services now comprising 72% of net revenues, up from 66% a year ago.

Financial highlights

• 1H26 net revenue was R$617.1 million, down 7.7% year-over-year.

• EBITDA for 1H26 was R$59.6 million (margin 9.7%), a 34.4% decrease year-over-year.

• Net income for 1H26 was R$23.4 million (margin 3.8%), down 41.3% year-over-year.

• Cash position improved to R$354 million at Q2 2026, with net cash at R$29.3 million.

• SG&A expenses declined 4.7% year-over-year, reflecting cost discipline.

Outlook and guidance

• Management expects continued challenges in 2026 and 2027 but anticipates a market recovery as the agribusiness cycle nears its end.

• Diversification and innovation are expected to drive resilience, with Agribusiness and Replacement & Services leading growth.

• No formal revenue or earnings guidance provided; backlog up 9.3% sequentially but down 13.8% year-over-year.

• Structural storage deficit in Brazil continues to drive demand for storage solutions.

• Pipeline for ports and terminals exceeds R$500 million, with revenue impact expected in 2027.