Ouro Fino Saúde Animal Participações (OFSA3) Q2 2026 earnings summary

Executive summary

• Consolidated net revenue for the first half of 2026 reached R$589.1 million, up 31.3% year-over-year, with strong growth across all business segments and outpacing market competitors.

• Net income attributable to shareholders was R$40.1 million for the first half, up from R$26.3 million in 2025, and adjusted net income for 6M26 was R$36.7 million, up 41.7% year-over-year.

• Recognized for innovation and workplace quality, including FINEP and Valor Inovação Brasil awards, and ranked among top agribusiness companies in Brazil.

• Completed the incorporation of Ouro Fino Agronegócio Ltda., consolidating commercial operations and strengthening market position.

• Expansion plans underway for the South Cone (Argentina, Uruguay, Paraguay), with legal entities being established and regulatory work in progress.

Financial highlights

• Gross profit for 6M26 was R$302.4 million, with a gross margin of 51.3%, up from R$225.2 million and 50.2% in the prior year.

• Adjusted EBITDA for 6M26 was R$105.4 million, up 54.0% year-over-year, with a margin of 17.9%.

• Operating cash flow reached R$183.7 million in 6M26, with cash and equivalents at R$369.0 million at period end.

• Financial leverage improved, with Net Debt/LTM Adjusted EBITDA at 0.43x and 87% of debt in the long term.

• Average cost of debt was 8.69%, 5.46 p.p. below the Selic rate.

Outlook and guidance

• Management anticipates continued revenue expansion, strong third quarter due to seasonal factors and trade events, and focus on anti-parasite and reproduction products.

• No formal guidance provided, but management remains committed to portfolio expansion, innovation, and sustainable long-term value creation.

• Monitoring risks such as Super El Niño, Chinese market dynamics, and Brazilian tax reform.