Cambuci (CAMB3) Q4 2025 earnings summary

Executive summary

• Faced a challenging business environment in 2025, with strategic focus on cash generation, inventory optimization, liquidity, and brand exposure.

• Net revenue fell 12.5% year-over-year to R$383.1 million, reflecting lower demand, especially in the second half of 2025.

• Initiated a five-year strategic plan aiming to double revenue, supported by organizational restructuring and market studies.

• Gross margin remained high at 48.9%, with only a slight decrease of 0.6 p.p. versus 2024, due to efficiency improvements and cost control.

• Operational cash generation was strong at R$80.8 million, with cash and equivalents up 61.9% to R$67.5 million, sufficient to cover all liabilities.

Financial highlights

• Net revenue: R$383.1 million in 2025, down 12.5% year-over-year.

• Gross margin was 48.9% in 2025 (down 0.6 p.p. year-over-year).

• EBITDA margin declined to 21.4% in 2025 (down 3.4 p.p.).

• Net income was R$68.4 million in 2025, down 10.5% year-over-year, but net margin improved to 17.9% due to lower tax expenses.

• Dividend and JCP distribution totaled R$44.1 million in 2025.

Outlook and guidance

• Management expects 2026 to be challenging but better than 2025, with gradual economic improvement and benefits from strategic initiatives.

• Anticipates a boost in football-related sales due to the FIFA World Cup in 2026.

• Strategic plan aims to double revenue in five years, supported by organizational restructuring and market studies.