Camil Alimentos (CAML3) Q4 2026 Prepared Remarks earnings summary

Executive summary

• Net revenue for 2025 was BRL 11.1 billion, down 9.4% year-over-year, mainly due to lower raw material prices, especially rice and sugar, despite volume growth in international and high-growth categories.

• Full year volumes rose 7% to 2.3 million tons, led by international and high-growth segments, while Brazil volumes declined 3.2%.

• International segment achieved record annual volume growth of 31%, driven by Uruguay and the integration of Paraguay.

• EBITDA reached BRL 950 million for the year, with margin expansion to 8.2% (+0.8 p.p.), reflecting operational discipline and synergy capture.

• Net income for 2025 was BRL 148.5 million, a 31.6% decrease year-over-year, with a net margin of 1.3%.

Financial highlights

• Gross revenue was BRL 12.9 billion in 2025 (-8.9% YoY); net revenue BRL 11.1 billion (-9.4% YoY).

• Gross profit reached BRL 2.5 billion (+4.3% YoY), with a margin of 22.4% (+2.9 p.p. YoY).

• Q4 net revenue was BRL 2.5 billion, down 16% YoY, while cost of goods sold fell 21%, lifting gross profit by 2% to BRL 543 million and gross margin to 22%.

• Net debt at year-end was BRL 5 billion, with a net debt/EBITDA ratio of 3.2x, within covenant limits.

• Capex for 2025 was BRL 463 million, mainly for new grain and thermoelectric plants.

Outlook and guidance

• Strategic focus remains on driving volumes in Brazil, expanding international presence, and improving profitability and efficiency.

• Plans to leverage underutilized capacity in pasta, cookies, and coffee to drive future volume and margin gains.

• Continued investment in ESG, operational synergies, and innovation in product categories.