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M. Dias Branco (MDIA3) investor relations material
M. Dias Branco Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Net revenue reached R$2.8 billion in 3Q25, up 16% year-over-year, with volume growth of 15% and EBITDA of R$318 million, a 39% increase year-over-year, and net income up 73% to R$216 million, marking the third consecutive quarter of revenue growth.
Cash generation was R$530 million, eight times higher than the same quarter last year, supporting a net cash position of R$721 million and a strong long-term debt profile.
All four business units showed consistent quarter-over-quarter growth, with market share gains in both cookies and pasta categories.
ESG initiatives advanced, including waste reduction, water efficiency, increased women in leadership, and the company maintained a AAA Fitch rating for the eighth consecutive year.
Achieved the Anefac Transparency Trophy for the eighth time and Great Place to Work certification for the third year.
Financial highlights
Year-to-date net revenue was R$7.7 billion, up 8% year-over-year, with volume growth and improved market share.
EBITDA margin for the quarter was 11.4%, with gross margin at 32.4%, slightly down due to higher palm oil prices.
Cash generation in the quarter was R$530 million, 8x higher than 3Q24, driven by EBITDA growth and working capital release.
SG&A expenses increased due to higher sales volume and greater marketing investment.
Net cash position at quarter-end was R$721 million, with 68.6% of debt long-term and total debt at R$1.87 billion.
Outlook and guidance
Cost reductions in wheat are expected to further lower input costs in the next quarter, though the effect is delayed due to inventory cycles.
Focus remains on profitable growth, efficiency, productivity, and international expansion.
SG&A as a percentage of revenue is targeted at 20%, with some short-term fluctuation possible due to revenue changes.
The company expects continued volume recovery and market share gains, with a focus on maintaining rational pricing aligned with market trends.
How will pricing strategy balance share vs. margin?
What specific actions address rising accident rates?
What drives 9M25 EBITDA vs Net Income divergence?
Market share gain drivers and sustainability?
Q4 margin outlook given cost dynamics?
Net cash use: M&A or shareholder returns?
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Next M. Dias Branco earnings date
Q4 202520 Feb, 2026
Next M. Dias Branco earnings date
Q4 202520 Feb, 2026
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