Q1 2026 Camil Alimentos SA Earnings Call (English, Portuguese) Transcript
Key Points
- Camil Alimentos SA (BSP:CAML3) reported an 18% increase in total volume, reaching 594,000 metric tons for Q1 2026, with significant growth in both Brazil and international markets.
- The high turnover segment, including grains and sugar, saw a 14% volume increase, reflecting successful commercial execution and growth strategies.
- The high growth segment, which includes pasta, cookies, coffee, and fish, experienced a 15% volume increase, driven by strong performance in coffee and cookies.
- Gross profit rose to BRL652 million with a gross margin of 24%, marking a 1.9 percentage point increase year-over-year, despite stable net revenue.
- The Cambaà plant is expected to lower production costs and increase volumes, benefiting from incentives and improved efficiency.
- Net revenue remained flat at BRL2.7 billion, impacted by deflationary pressure on rice prices both domestically and internationally.
- SG&A expenses increased by 3.9 percentage points to 20% of net revenue, driven by higher transport volumes, freight rate adjustments, and legal provisions.
- The International segment saw a 32% year-on-year decline in average net price due to falling rice prices, affecting profitability.
- Net debt ended the quarter at BRL4.2 billion with a leverage ratio of 4.7 times net debt to EBITDA, indicating high leverage.
- Pasta within the high growth segment underperformed, with profitability below historical levels and no significant volume growth.
Good morning. Welcome to Camil's video conference to discuss the results of the first quarter of 2026. Present here today are Mr. Luciano Quartiero, Director, President; Flavio Vargas, CFO and IR Officer; and the company's Investor Relations team. We would like to inform you that this event is being recorded (Operator Instructions)
We would like to emphasize that any forward-looking statement that might be made during this conference call related to Camil's business outlook, projections and financial and operating goals are beliefs and assumptions of the company's management as well as information currently available. These may involve risks, uncertainties and assumptions as they refer to future events and therefore, depend on circumstances that may or may not occur. Investors must understand that such general economic industry conditions and other operating factors may affect Camil's performance and lead to results that differ substantially from those expressed in such forward-looking statements.
We will now start the presentation with Mr. Quartiero followed by Flavio's presentation,
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