Cambuci (CAMB3) Q4 2024 earnings summary

Executive summary

• Consolidated net revenue for 2024 was R$437.9 million, down 4.6% year-over-year, mainly due to the closure of operations in Argentina and a challenging domestic market in Q4.

• Consolidated net income rose 6.3% to R$76.4 million in 2024, with a 1.7 p.p. increase in net margin to 17.4% and a 22.8% increase in Q4 year-over-year.

• The company strengthened its financial position, increasing net cash by R$31.1 million to R$40.4 million, 12 times higher than gross debt.

• Dividend and JCP distributions totaled R$28 million in 2024.

• Operational cash generation was robust at R$85.8 million.

Financial highlights

• Net revenue in Brazil grew 2.4% to R$437.9 million in 2024, while consolidated revenue fell 4.6% due to Argentina's exit.

• Consolidated gross margin improved by 2.1 p.p. to 49.5% in 2024, despite a 0.5% drop in gross profit.

• Consolidated EBITDA was R$108.5 million, with margin up 0.8 p.p. to 24.8%.

• SG&A expenses increased 2.6% year-over-year, mainly due to higher marketing investments.

• Financial result turned positive at R$4.4 million, reflecting lower leverage and efficient cash management.

Outlook and guidance

• Management expects a challenging 2025 due to high interest rates, currency volatility, and cautious retail demand.

• Focus remains on cash preservation, margin maintenance, and operational efficiency.