Ouro Fino Saúde Animal Participações (OFSA3) Q4 2025 earnings summary

Executive summary

• Net revenue grew 19.5% year-over-year to R$1,225 million, with strong growth across all business segments and significant gains in market share and international operations.

• Adjusted EBITDA increased 27.4% to R$282.5 million, and adjusted net income rose 32.1% to R$172.4 million, outpacing revenue growth.

• Recognized with the 2025 FINEP Innovation Award and launched six new products, reinforcing commitment to innovation and sustainability.

• Completed the merger of Ouro Fino Agronegócio Ltda., consolidating domestic commercialization activities.

• International operations net revenue grew 17.1%, with notable performance in Mexico, Colombia, and Central America.

Financial highlights

• Gross profit increased 22.3% year-over-year to R$633.0 million, with gross margin up 1.2 p.p. to 51.7%.

• Adjusted EBITDA margin improved by 1.5 p.p. to 23.1%; adjusted net margin rose 1.4 p.p. to 14.1%.

• Cash and cash equivalents at year-end were R$250.8 million, up from R$233.9 million.

• Leverage at 0.85x Net Debt/EBITDA, with 89.3% of debt in the long term and cost of debt at 8.23% p.a.

• R$78.2 million invested in research, development, and innovation, representing 6.4% of net revenues.

Outlook and guidance

• Guidance for 2026 targets growth above the previous year, supported by recent product launches, ongoing international expansion, and a new strategic planning cycle to 2030.

• Focus remains on organic growth, efficiency, innovation, and capturing new market opportunities.

• The impacts of Brazil's tax reform, effective from 2026, are still being assessed and are not reflected in 2025 results.