Camil Alimentos (CAML3) Q1 2026 (Q&A) earnings summary

Executive summary

• Net revenue reached R$2.7 billion in 1Q25, down 7.3% year-over-year, with EBITDA of R$233 million and an 8.7% margin; profitability was maintained despite domestic price pressures, supported by strong international operations.

• Net income was R$66 million, a 15.9% decrease year-over-year, with a net margin of 2.5%.

• International segment volumes grew 24.4% year-over-year, offsetting declines in Brazil's high-turnover and high-value categories.

• New product launches, such as União coffee capsules, and digital transformation initiatives supported brand strength and operational efficiency.

• ESG initiatives advanced, including renewable energy projects and expanded community programs.

Financial highlights

• Gross profit was R$606 million (22.6% margin), down 3.2% year-over-year but up 14% sequentially; EBITDA margin was 8.7%, nearly flat year-over-year but up 2.2 percentage points sequentially.

• Net debt increased to R$3.6 billion, with net debt/EBITDA at 4.1x for the quarter.

• Capex was R$120 million, focused on new grain and thermoelectric plants.

• SG&A expenses were 16.5% of net revenue, with lower sales expenses offset by higher general/admin costs.

• Cash and equivalents at quarter-end were R$1.6 billion, down 20.4% year-over-year.

Outlook and guidance

• Management remains confident in driving growth and sector leadership, focusing on operational efficiency, brand strength, and capacity expansion.

• Gradual resumption of retailer restocking is expected as rice prices stabilize at low levels.

• Anticipated gradual improvement in sugar segment profitability and competitiveness over the next two quarters.

• Ongoing investments in digital transformation and ESG initiatives are expected to support long-term value creation.

• Leverage reduction to target net debt/EBITDA of 2% in the mid-term, mainly through improved operating performance and lower investment needs.