Q3 2025 Camil Alimentos SA Earnings Call (English, Portuguese) Transcript
Key Points
- Camil Alimentos SA (BSP:CAML3) reported an EBITDA of BRL239 million, marking a 39% increase year-on-year, with an improved EBITDA margin of 8.1%.
- The company achieved volume growth in the high-growth category, including fish, pasta, coffee, and cookies, with coffee and fish being the main highlights.
- International market performance was strong, with volume growth driven by increased exports in Uruguay and contributions from Paraguay following an acquisition.
- Cost of goods sold decreased by 11%, which, despite a 5% drop in net revenue, led to an increase in gross profit to BRL669 million and a gross margin of 22.7%.
- Camil Alimentos SA (BSP:CAML3) successfully issued BRL1.25 billion in debentures to extend maturities and strengthen liquidity, supporting financial stability.
- Net revenue for the third quarter was BRL2.9 billion, down 5% year-on-year, primarily due to pricing challenges.
- The high-turnover category, including sugar and grains, saw an 8% decline in volumes compared to the previous year, mainly due to lower sugar export volumes.
- Sequentially, the high-turnover category experienced a 12% drop in volume, with grains facing lower prices that pressured profitability.
- General and administrative expenses accounted for 17.3% of net revenue, reflecting increased commercial activity and investments in personnel and consulting services.
- The company's net debt stood at BRL3.8 billion with a leverage ratio of 4.2 times net debt over EBITDA, indicating a significant debt burden.
Hello, and welcome to the presentation and comments on the results for the third quarter, ended November 2025.
On slide two, we present the categories of activity and the main indicators for the quarter. The third quarter was marked by increased profitability, even in a more challenging revenue scenario. Net revenue totaled BRL2.9 billion, down 5% year-on-year, driven by prices. On the other hand, volumes totaled 616,000 tons, growing year-on-year.
We ended the period with EBITDA of BRL239 million, up 39% year-on-year, and an EBITDA margin of 8.1%. This represents a 2.6 percentage points growth compared to the third quarter of '24. This result reflects operating discipline, improved mix, and consistent growth in the higher value-added and international categories.
We will now look at performance by category. In the high-turnover category, which includes sugar and grains in Brazil, we saw an 8% decline in volumes compared to the previous year.
This movement was mainly explained by lower sugar export
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