Dimed (PNVL3) Q1 2026 earnings summary

Executive summary

• 1Q26 marked the start of a new growth cycle, with strong sales, margin expansion, and operational improvements aligned with the 2030 plan.

• Gross revenue grew 15.8% year-over-year to R$1.57 billion, with retail sales up 15.1% and digital channels reaching 28.6% of retail revenue.

• Adjusted EBITDA rose 25.6% to R$81.2 million, and adjusted net income increased 38.1% to R$38.5 million, reflecting productivity gains and disciplined expense management.

• Market share in the Southern Region reached a record 13.3%, with gains across all states and categories for the 24th consecutive quarter.

• Digital sales accounted for 28.5%–28.6% of retail revenue, with app sales up 95.5% year-over-year.

Financial highlights

• Consolidated gross revenue: R$1,571 million (+15.8% YoY); retail gross revenue: R$1,555–1,560 million (+15.1% YoY).

• Adjusted EBITDA: R$81.2 million (+25.6% YoY, margin 5.2%).

• Adjusted net income: R$38.5 million (+38.1% YoY, margin 2.4%).

• Retail gross margin: 29.4%–29.5% (stable YoY); retail EBITDA margin: 10.7% (+0.8 p.p. YoY).

• Free cash flow: R$12.4 million, positive for the fifth consecutive quarter.

Outlook and guidance

• Strategic plan for 2026–2030 underway, targeting R$11.5–12 billion in revenue and 950–1,000 stores by 2030.

• EBITDA margin guidance between 6.7%–7% for the period.

• Focus on digitalization, private label expansion, operational efficiency, and customer journey enhancements.