International Meal Co Alimentacao SA (BSP:MEAL3)

Q4 2025 International Meal Company Alimentacao SA Earnings Call Transcript

Mar 31, 2026 / 02:00 PM GMT

Release Date Price: R$0.93 (-4.12%)

Transcript

Key Points

Positve

International Meal Co Alimentacao SA (BSP:MEAL3) achieved a 146% year-on-year increase in adjusted EBITDA pre-IFRS, indicating significant operational and financial performance improvement.
The company reduced general and administrative expenses by 28%, reflecting efficiency gains and cost control.
Operating cash flow increased by 139% over the year, highlighting improved cash generation.
Net debt was reduced by 33%, reaching a leverage level of 2.5 times, showcasing financial discipline and a strengthened capital structure.
The divestment of the KFC operation in Brazil positively impacted the company's cash position by $5 million in Q4 2025 and an additional $20 million in Q1 2026.

Negative

Net revenue declined by 5.4% compared to 2024, indicating challenges in maintaining revenue growth.
The U.S. operations experienced an 11% decline in revenue, impacted by store closures and underperformance of new stores.
Full-year consolidated results showed a decline in operating performance, with adjusted EBITDA decreasing by 9.6%.
The company faced significant pressure in some operations, particularly in the U.S., and a highly competitive environment in Brazil.
Global revenue decreased by 4.3% compared to 2024, reflecting portfolio adjustments and the closure of underperforming stores.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MEAL3.SA - International Meal Company Alimentacao SA
Q4 2025 International Meal Company Alimentacao SA Earnings Call
Mar 31, 2026 / 02:00PM GMT

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Presentation
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Unidentified Company Representative [1]
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Good morning, ladies and gentlemen. Welcome to the IMC's conference call to discuss the earnings result for the fourth quarter 25. This conference is being recorded and the presentation is available for download at the company's website. We would like to inform you that during the company's presentation, all participants will be in listen-only mode, ensuing this. We will go on to the Q&A session when further instructions will be provided.

As a reminder, forward-looking statements are subject to known and unknown risks and uncertainties that cause the company's actual results to differ from those in the forward-looking statements. Such statements speak only as

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