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 in 2025, with strong growth across all business segments and significant contributions from new product launches and international expansion.

• Adjusted EBITDA increased 27.4% to R$282.5 million, and adjusted net income rose 32.1% to R$172.4 million; consolidated net income reached R$222.3 million, with EPS of R$4.13.

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

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

• Completed the incorporation of Ouro Fino Agronegócio Ltda. in October 2025, consolidating operations and assets.

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%.

• Operating income rose to R$236.5 million in 2025 from R$186.8 million in 2024.

• Cash availability at year-end was R$250.8 million, with strong liquidity and cash flow supporting higher dividends and interest on capital.

• Net debt increased to R$238.8 million, with leverage at 0.85x EBITDA and 89.3% of debt long-term.

Outlook and guidance

• Strategic planning to 2030 focuses on innovation, operational efficiency, and international expansion, with continued investment in R&D and product launches.

• Guidance for 2026 targets growth above the previous year, with a focus on Latin America and biologics.

• No impacts from the 2025 tax reform reflected in current results; future effects depend on further regulation.