Grazziotin (CGRA4) Q2 2025 earnings summary

Executive summary

• Celebrated 75 years of operations, reinforcing commitment to sustainable value and customer focus.

• Achieved strong net income growth of 55.35% year-over-year, driven by higher financial revenues and tax savings from interest on equity.

• Navigated a challenging macroeconomic environment with inflation and high credit costs, maintaining disciplined financial management.

Financial highlights

• Net income rose 55.35% to R$40.1 million in 2Q25 compared to 2Q24.

• Net revenue increased 3.42% year-over-year to R$212.8 million.

• EBITDA margin was 20.54%, down 0.87 p.p. from 2Q24.

• Gross margin remained stable at 51.55%.

• Financial revenue grew 36.65% year-over-year.

Outlook and guidance

• Management remains cautious due to persistent inflation and high interest rates, focusing on prudent credit and operational discipline.

• Positive outlook for the cotton harvest and ongoing development of second-crop grains.