Camil Alimentos (CAML3) Q2 2025 (Q&A) earnings summary

Executive summary

• Achieved record net revenue of R$3.3 billion in 2Q24, up 12% year-over-year and 12.5% sequentially, with EBITDA of R$288 million (+35% YoY, +13% QoQ) and net income of R$119 million (+153.4% YoY, +51.3% QoQ), margin 3.6%.

• Gross profit reached R$698 million (+21.7% YoY, +11.5% QoQ), margin 21.4%.

• Launched new pasta line in São Paulo and expanded the coffee portfolio with gourmet products, supporting growth in high-value categories.

• Signed agreement to acquire Villa Oliva in Paraguay, marking entry into the Paraguayan rice market and supporting international expansion.

• Continued ESG progress, including inclusion in the B3 Corporate Sustainability Index and publication of the Sustainability Report.

Financial highlights

• Gross revenue reached R$3.7 billion (+12.2% YoY), net revenue R$3.3 billion (+12.0% YoY, +12.5% QoQ).

• EBITDA margin improved to 8.8% (+1.5pp YoY), gross margin 21.4% (+1.7pp YoY), net margin 3.6% (+2.0pp YoY).

• Net debt reached R$3.6 billion; net debt/EBITDA LTM at 3.5x.

• Capex for the quarter was R$66.5 million, focused on pasta and coffee investments.

• Working capital reached R$3.5 billion (+30.5% YoY), with inventory and receivables increases.

Outlook and guidance

• Management expects a challenging second half for rice due to consumption trends and crop timing, but remains optimistic about high-value categories and international expansion.

• Planted area in Rio Grande do Sul projected to increase by 5%, with potential for a 5-10% larger crop.

• Ongoing investments in brand strength, product innovation, and geographic diversification.

• ESG initiatives and certifications continue to be a strategic priority.