Irani Papel e Embalagem (RANI3) Investor Day 2026 summary

Strategic evolution, vision, and sustainability

• Emphasizes a 20-year journey of consistent investment in sustainability, integrating environmental, social, and economic pillars, with audited reports and significant reductions in emissions and landfill waste.

• Achieved a 74.1% reduction in greenhouse gas emissions per ton produced and pioneered carbon credit sales, monetizing BRL 24 million.

• Early completion of 2030 sustainability commitments, including 100% renewable energy and zero lost-time work accidents.

• Published a Sustainability-related Financial Disclosures Report under IFRS S1 and S2, being the third in Brazil to do so.

• Social progress includes a 23% increase in employees, doubled female representation, and a 54% reduction in accidents, with a GPTW trust index of 86%.

Growth initiatives, investment cycle, and capital allocation

• Launches Gaia XII (BRL 534 million CapEx) to optimize the Minas Gerais plant, with startup expected in Q4 2028, and introduces the Neos Platform focused on growth via new packaging plants and a recycled paper machine.

• Gaia XII involves a new paper machine and biomass boiler to further decarbonize operations.

• Neos Platform targets doubling market share in corrugated packaging to 8% by 2034, with phased investments and a shift away from virgin fiber due to high CapEx and low returns.

• Maintains disciplined capital allocation, targeting leverage below 2.5x EBITDA, a 50% payout policy, and regular share buybacks.

• Investment strategy prioritizes organic growth, innovation, and customer-centric solutions over price competition.

Financial performance and market positioning

• Net profit grew 9% annually, adjusted EBITDA 15.2%, and shareholder returns averaged 20% per year over two decades.

• Net revenue, EBITDA, and value added have grown at CAGRs of 9.5%, 15.2%, and 13.1% respectively since 2006.

• Total shareholder return from 2006–2025 reached 598%, outperforming CDI and Ibovespa since the Re-IPO.

• Maintains high credit ratings and access to differentiated funding, reducing average cost of debt to below CDI.

• Customer satisfaction is high, with NPS scores of 84 for packaging and 91 for paper customers.