Everyone, welcome to the earnings call for the first quarter of 2026 at Blau Farmacêutica. We're live at Blau Studios in São Paulo with Marcelo Hahn, the CEO and Founder, Douglas Rodrigues, the CFO and Investor Relations, and me, Matheus Fujisawa, Investor Relations. Our call is taking place in Portuguese with English translation and will be available on the company's IR website at the end of the presentation. They should select us on the bottom part of the icon, and other investors may send their questions on the chat. We'll pass the word on to Marcelo to begin the presentation on slide 3.
Good afternoon, everyone. We wanna talk about the main highlights, where we show growth of margin and revenue with zero leverage, and that reinforces the solidity of our operation. Net revenue reached BRL 435 million and a growth of 17% over the first quarter of 2025, with a highlight of the growth in the public channel for mature products as well as the performance of the launches that grew 32%. This growth was accompanied by the expansion of our gross margin, which reached 41.4% in the quarter and then increased up 130 basis points year-over-year. This performance reflects efficiency gains, cost reduction, and a more favorable exchange rate. As a result, the recurring EBITDA margin reached 23.9%, an expansion of 170 basis points year-over-year.
The recurring net income was BRL 36 million, but if we disregard or discount the impact of the exchange rate variation, it reached BRL 15 million, an increase of 8% compared to the first quarter of 2025. The negative exchange rate variation occurred because most of the company's cash is in U.S. dollars ever since the receipt of the Prothya investment. It's important to highlight our solid financial position. We finished the quarter without leverage, which gives us flexibility to continue to invest in the present and future with transformational projects in a very disciplined manner. On this slide, you can see the first positive signs of the year that already started appearing. We observed some other levers that should gain traction throughout the next quarters as well, reinforcing our trust to have very positive results in the year.
Starting off with the performance of the public channel, we had delivery of the federal bids with better volumes and price. The channel gets back to growth after many years of drops due to the sale of products without registrations in the middle of the pandemic when we resumed the legitimacy of the bid in the Supreme Federal Court. In 2025, we already noticed stabilization of the channel despite some volatility and some delays in some bids. In 2026, we resumed positive performance and apparently had less volatility. The private channel also showed growth with the combination of a more favorable exchange rate and advances in the direct sales strategy, showing very resilient demand for our mature products. Regarding production capacity, the new lines have not yet had an impact on revenue in the first quarter.
Although two lines are already complete, the certification has not yet come out by the end of the first quarter of 2026. We expect that the new lines contribute gradually throughout the year, supporting growth from 2026 onwards. As we talk about launches, we had a revenue growth of 33% in the first quarter, mainly due to the maturity of products launched in previous years. Our expectation is that ANVISA queue will start reducing with the new margin and with the agency of new launches planned for this year will start to contribute in the coming quarters. We continue to have consistent improvements in gross margin, supported by efficiency gains in factories and currency dynamics, which more than offset the impact of the product mix.
Regarding expenses, there was no dilution in the first quarter, given that we made investments in the administrative and commercial teams last year to move forward with transformational projects. We hope that from the second half of the year onwards, this level will start contributing clearly to the expansion of the EBITDA margin as revenue growth consolidates and the nominal base becomes more comparable. In the cash cycle, we had a one-off increase related to supplier financing, and this movement tends to normalize throughout the year, while we expect inventories to continue their improvement trajectory throughout 2026. Matheus will continue this presentation. Thank you.
Thank you, Marcelo. On slide 5, we highlight our initiatives in research, development, and innovation, a central pillar of Blau's growth strategy. The launch of the in the last 12 months, LPM 1225 grew 33% or 7.6% of the total revenue. This growth mainly reflects the maturity of the launches made in previous years. The launches, despite the issues with the delays in the regulator, have grown consistently and were fundamental for the company's diversification in recent years. The main issues of the next cycle is focused on products that are even more relevant and unique, which leads to an increase of investments that are gonna be even higher than the amount of revenue contribution from these launches.
We expect that the drugs that are already in ANVISA queue, which accumulate an addressable market of BRL 2.7 billion, as you can see on the chart on the right, will start to come out and be approved, and the growth of the launches will accelerate. We can imagine the company's potential for generating results when this trend is reversed. Until then, we should demonstrate accelerated growth of our addressable market, which today is approximately BRL 7 billion in the hospital sector. We see a potential to more than double in the next three years and triple after the launch of all four monoclonal antibodies currently developed and produced locally by Blau. Moving on to slide 6, we can see that the net revenue reached BRL 435 million in the first quarter of 2026.
An increase of 17% compared to the first quarter of 2025. Higher than the market pace, which was around 13% in that same period. Despite the negative seasonality, the nominal value was still higher than the previous quarter, which reinforces that the fourth quarter of 2025 was indeed a one-off, and it did not represent the company's growth trend. There's several positive drivers that we have already discussed here in 2026 that Macelo shared and make us even more confident to achieve transformational growth in the coming years. Besides this, in addition, the growth of 70%, it's a little bit higher than the average growth of the last 10 years in the company, which is about 16%.
This average growth was mostly organic and delivered in a period with several macroeconomic challenges, which really reinforces the resilience of Blau and the sector, especially when we look at the longer windows which are more consistent with the nature of the pharmaceutical business. If we start analyzing the segment and look at this per segment, we can see the highlight is in the hospital segment, 18%, driven mainly by federal bids, the performance of mature products, and we've seen, of course, a major resilience in demand and a 33% growth in launches. New product lines have still not had revenue in the first quarter of 2026. They should start to contribute gradually in the coming quarters with a more significant effect in 2027 growth.
Finally, the retail plus aesthetic segment was practically at the same level as last year, and I think that's mainly due to adjustments we had in the supply and distribution of aesthetics, which has generated volatility in the segment's performance ever since the first quarter of 2025 when we had the registration of Detox. The performance this year should be a little more volatile as well. Potentially, we'll get back to normalizing from 2026 onwards. Fortunately, the performance of the mature products of our core business has been above expectations and more than compensated or offset the performance of the retail aesthetic segment, continuing the greater share in the results, impacting more positively. I'll pass the phone to Douglas.
Thank you, Matheus. Well, moving on here, guys, let's talk about our gross profit. For another quarter, we were able to have an evolution. If you look at this from the beginning of the round, back in 2024, we have over 800 basis points in the comparison versus the first quarter of last year. We have 130 basis points in compared. We go up a whole layer on the margin, and we delivered 41.4, and this is mainly due to the growth in the revenue, better use of the capacity, dilution of our fixed costs of our factories, and Bergamo, as we mentioned in the past. It's already operating at the same consolidated level, and we're always gonna optimize this within that process we mentioned, which is transferring more products to that factory.
Of course, currency, we already have signs of improvements, but it's still gonna be turning the stock, it should be a little more positive in the next quarters. To look at the mix of the revenue, it was also super important, and maybe it's not the mix that was completely planned for the year because as highlighted, I think we still have room for the other business units to grow a bit more. There's still a lack of production in new lines, and it's good to bring in margin gains. It's natural that this is the new level that's sustainable. We'll increase this level in regards to next year. When you see the EBITDA margin is kind of following that trend.
In this quarter, the growth of our expenses was in line with the growth of the revenue, so there's no dilution once again. When you compare the other quarter, you have 170 basis points of EBITDA margin gains. When you look at nominal value of the expense, the expense in the first quarter is really in line and pretty much the same as the last quarter. It's pretty much a stabilization scenario. Now when you look at the growth of the revenue in the next quarters, it's natural that we would also start gaining margin and leverage and increase the EBITDA margin as well, which I think is the biggest plan as well as other initial initiatives internally.
That was always the focus, I think, managing controls. However, this year we're a lot more organized and focused and prepared with a series of different initiatives and of course, the gains will come throughout 2026. The next slide, here you can see the effects of the currency. Now the beginning of 25, you have a loss in value of the real. The assets are a lot greater considering the receipts from Prothya. We also have this balance mark to market. We actually wanted to have this comparative chart here to show you what would be the effect of the net income, excluding the effect of the currency variation, which shows growth versus the previous quarter. That's important to highlight.
I would always reinforce the tax efficiency in the company, which is. Continuing, of course, within a quarter where you have stabilization in the profit and it's kinda flat, it's not gonna be that relevant. It continues to optimize the effective rate, and that's also an important lever to capture operational gains and transform them into net income. Moving on to the next slide, and I think it's worth pausing for a second. When you look at the cash cycle versus the previous quarter, you can see it worsening. Where does this come from? Well, it's important to look at the company's balance sheet and understand that the investments we have for R&D, they don't simply go through the results or tangibles. They're also in the current assets of the company.
If you look at the inventory composition in this quarter versus the position of December 2025, we increased BRL 30 million in the stock of products that are in development. Of course, this really considers the reflexes of the production and advances in one P400, right? When you deduct this effect, of course, we continue to have the same levels of the previous quarter when it comes to data percentages of the working capital versus the revenue and the metrics you would prefer to use. We start this, as mentioned in the closing of the year, to start this stock turnover in a more accelerated manner, optimizing the levels of stock, and I think that's the biggest lever for optimization and release of the cash position when you look at the working capital.
When you look at customer receipts, I think everyone knows that the market's still pretty stressed with the interest rates and leverage, but with a lot of discipline, looking at the credit and diversifying the portfolio, the company had a very important movement, with diversifying the portfolio, and we're a lot more vigilant when it comes to credit. We can address the growth and keep a position of at least the same level of days of receipt, right? When it comes to suppliers, there's a bit of influence on the currency, the dollar, et cetera, and then some other effects, of course, that were one-offs in the cycle with the reduction of purchases as well in our first quarter.
We kind of follow that same optimization of working capital to consider the investments the company has to perform this year. Moving on to the next slide, now we have basically CapEx. It's natural every year you start, you have to be a lot more careful. You plan your budget, but you don't perform all of the projects at the beginning of the year. That wasn't different in 2026. If you add that, the year started off with a lot more volatility than what was expected. We're still prioritizing this in the investments that are most important and more relevant, especially because the company has a healthy position, which allows us to continue with these investments. When you look at the fixed asset CapEx, we still complete the new lines.
Basically, looking at this, Pernambuco 's work where we're gonna be adjusting as, this brings us a bit more comfort to begin the construction, now considering the calendar of rain in the Northeast and also optimizing the cash position once again. Now, with intangibles, if we look here, there's an important highlight, right? Looking at the company's balance sheet, the company today also invests and develops this through an Institute of Science and Technology and also performs some anticipation for to suppliers. At some moment, that will be unloaded and will go into the intangibles.
It's just to provide clarity and transparency that we're still focusing on the projects that are most relevant and more transformational, and that will continue to lever the growth of the company with this discipline of really looking at the company's cash position and accommodating this cash generation and investment. The next slide, of course, is to wrap up my part. Once again, we want to highlight the company was able to address this quarter with all the challenges and difficulties with growth and improving margins, and then, of course, prioritizing the cash position. We have a cash position that's actually higher than the debt. There's company discipline, and this is our DNA, and then that's what's going to be done throughout 2026.
We have relevant investments, but they're gonna be supported by cash generation and optimization of working capital as well. Looking at the debt, we have a debt that started to mature now in 2026, but of course, it's accommodated within our cash position, right? The company is also searching for other alternatives and possibly even reinforcing the structure and bringing in other operations that are even better than what we have. Once again, looking at opportunities, right? The company has been following a pretty comfortable position to be able to handle the investments. Now I'm gonna pass it on to Marcelo for his final remarks, and then we'll get into questions and answers.
Well, before advancing, I wanna quickly reflect on the five years ever since the IPO with relevant challenges, some that we were not able to control. We had a macroeconomic environment that was very adverse. Than what we had at the time of the IPO, with the interest rate going from levels that were close to 2% to levels at about 15%. That made us reach conscious decisions and also postpone some investments with the objective of preserving the capital structure, right? Also coexisting with the sale of products in the public channel. The regulatory environment was also more challenging with the delays in reviewing new drugs, reducing the pace of growth and returns expected in many channels.
Another point was also the peak of the pandemic, and that situation was only normalized by 2024 onwards. Some investments did not deliver the returns expected, which was the case of Prothya and Hemarus. Because of this, we performed the divestment of Proclea last year, and Hemarus could follow the same path in the future. Well, when we look at the other side, we see very relevant achievements, even in a scenario that was super challenging. Blau was able to keep a healthy channel with the boundaries that are most solid in the sector and diversification of the revenue sources, reducing costs and creating a base that's more sustainable for the future.
We had significant advances in R&D, increasing our capacity to develop new products in quantity and complexity, with an important highlight to the monoclonal antibodies and with a lot of other products that are relevant to add on to our portfolio in the next few years. We also expanded our productive capacity, that creates an important gain in efficiency and scale. We advanced significantly in corporate governance, and we created robust basis to support our growth in the future and present, always assessing the best combination between risk and return. We're convinced that Blau is better positioned today than it was in its IPO, with more capacity for investments, maintaining a healthy capital structure and a better risk-return ratio, which makes it considering the liquidity of the stock.
Now, moving on to the next slide, I want to share our vision for the next five years, which could be summarized in three major pillars. In the investment pillar, we're gonna focus more on projects with the best risk-return ratio. We're gonna advance into new products and innovation with an important emphasis on complex therapies such as monoclonal antibodies. We're also gonna continue to expand our production capacity with more verticalization. We're producing while seeking support also of specialized consultancies and develop people on process optimization.
These investments are gonna enable attractive and sustainable growth for Blau, translate into the acceleration of our pipeline and volume growth in the mature portfolio, which should generate relevant opportunities in both the public and private channels, as well as enhancing geographic expansion with the help of strategic license -in and license -out partnerships.
We also seek greater portfolio differentiation, which will lead to result in an increase in the average ticket with the objective of exceeding our historical margins in a sustainable manner and with a transformational scale. All of this converges to generating value for different stakeholders. Value translates into expanding populations' access to innovative therapies, strengthening national technological sovereignty, and creation of new opportunities for our employees, our partners, customers, suppliers, and of course, for you, our shareholders. We're building a company that is prepared for succession and perpetuity, with solid foundations of governance, innovation, and execution. We're also seeing a potential to improve macro and market conditions choosing the best operational moment in the company, where we begin to reap the fruits of the investments of previous years.
We have no doubt that as the results materialize, the market will reward our actions and our stock, opening up new opportunities to generate even more value for all stakeholders. Thank you so much for your trust and for being with us.
Thank you, Marcelo. Now we're gonna begin our Q&A session. The sell side analysts who want to ask questions should click the Raise Hand option on the Zoom platform located at the bottom part of the screen. Other investors can send their questions through the chat. The first question we have is from Eduardo Resende at UBS. Eduardo, I think you can open up your mic.
Hi, Marcelo, Douglas, and Matheus. Thank you for this opportunity. We have 2 questions on our side. First is about the CapEx. Douglas gave us some initial comments, but the CapEx is a little bit smaller in this quarter and in the previous calls, that had been around BRL 600 million in the year. I wanted to get a bit of the I wanted to understand if these levels continue and if the company expects these levels of CapEx. Finally, if you guys could give us some color on what you guys expect of the distribution of volumes in regards to the next quarters. Thank you so much.
I'm gonna start off with the CapEx. First of all, thank you, Eduardo. Good afternoon, everyone. Douglas, you wanna start off with the CapEx?
Yeah. In the last call we mentioned this, and, as I mentioned, we always start the year off with a planning initiative, and we understand how the year is gonna be performing and of course, the review of the results and cash generation. Today maybe we're closer to about 15 or 15 some than the 600, which is part of this, for number who we expected for this year. Will probably be more for the first semester of the next year. We should focus more on packaging and less on the preparation of the basis for this, right? That's really what's gonna make this value a little bit smaller. We start this clinical study this year, and this will definitely lead to an increase in this and the other investments follow the natural course business.
About the Alfa bid, we mentioned also that this year this is a little bit more phased out during the quarters, but we won't have this mismatch this year with the composition and agreement that was made with the government to distribute this in the best way in order to meet the demand. It was distributed in the four quarters.
That's clear, guys. Thank you for the answers.
Thank you, Eduardo. Next question is from Vinicius Figueiredo at Itaú BBA. Vinicius, please your mic is released.
Okay, guys. How's it going? Good afternoon. Thanks for taking my question. I wanted to explore a little bit, you talked about this during the presentation and in the release, but I wanted to explore a bit more about in the mature portfolio, with the private channel, it's really clear with the grounds you guys had in the wins you and gains you had in this quarter. If you could, on the private side, mention if you had any molecule that called more attention for performance in this first quarter? If it was more generalized that ended up impacting price or volume that made you guys have this delta that was a little bit better looking at the first quarter.
The second point is a follow-up on what you guys already mentioned in the presentation, also looking at the perspective you guys have in regards to this dollar scenario. How does this change in the negotiations with suppliers and the strategy also of any stock movement as well? It would be interesting to explore this a little bit, if possible. Thank you.
Okay. Thank you, Vinicius. Good afternoon. On the commercial aspect, we can see that our initiatives focusing more on the end customer and promoting the sale of all of the portfolio has really brought in positive results to the company, and we've been growing with all of the products in our portfolio and our sales in the private market.
About your question for any anticipation movements, we're already backed up in our dollar, and unfortunately, we kept this decision-making of the board and the company to keep up this natural hedge, and we decided to keep all of the capital we received from Prothya in a strong currency, but that brought this in our balance sheet, it represented a financial expense. At the end of the day, it's a hedge, and we will need to use this currency to buy our inputs abroad, and these have pretty stable prices. I don't see, like, an advantage of building up even more stock. We have a lot of days of stock. Every day that goes by, we've been improving our processes so that we can reduce our days of stock.
We actually have our stock still because of these lines we repeated approvals for all of these products that we're producing. We've had a pretty big scope of production that we're gonna be processing throughout the year and reduce our stocks. We don't see much of an advantage at this moment to increase our stocks because, by the understanding we have, we have a forecast, $76 billion of our commercial balance, and we can see that we'll have a Real that is stronger for the next months. The trend to make this even more accentuated or intense with the dollar even cheaper, so. It would be maybe premature to have this investment. There's a positive effect in the margin, right? Yeah.
You have the new inventory inflows, and you can strengthen this cash generation in BRL. If the dollar gains value in regards to the BRL, then we'll have positive revenue, and it'll be the opposite, right? It's a 1-up situation because we have this natural hedge in strong currency.
Okay. That's clear. Thank you, Marcelo.
Guys, the next question is from Mirela Oliveira at Bank of America. Mirela, I think your audio is already authorized here.
Thank you, Marcelo, Douglas, and IR team. Thanks for the space. I have two on my side. First, about the revenue. If you could talk about what we should expect in regards to acceleration in each of the quarters in the year. Considering the new production lines, in the last quarter, you had mentioned that part would contribute to this. I wanted to understand the updates of the company and the new expectations for the contribution of this revenue in each quarter. The second one would be a question from this colleague about the CapEx. Could you give us some more color on what we could expect as seasonality of the BRL 515 million throughout the quarter?
Okay. Thank you. Just about the CapEx a bit now. I think what we can say, Mirela, is we can base ourselves on the history. If you look at the company's history in the last three years, CapEx should be accelerated during the year. The lowest value in the 1st quarter and greater in the fourth quarter should probably have a similar phasing this year.
We're not gonna do anything crazy here and no investment that we cannot honor and generate our own cash. The company versus debt, it's not a good moment. It's still not a good moment to perform this expense and bringing returns to investors with interest at this level is gonna be really complicated. What can we expect in line with what Matheus mentioned? We repeat the expenses in the 1st quarter. We're gonna spend about a little more in the next quarters, but not too much more.
It's kind of like the history the company already has in the previous years. About revenue, what we've seen from the bank analysts is really in line with what we plan to deliver this year in the company. Naturally, we're gonna bring in these results. We've been pursuing these results, actually better results, but we are also convinced that we have what it takes in the market and in the company, despite the current situation, without having all these lines approved. We understand that we lack very little for this to happen, and we've also been improving efficiency as a whole with the current lines that are approved. We understand that we're gonna bring in results in a very smooth way this year.
Great. Thank you. Very clear.
Thank you.
Okay. Thank you, Mirela. The next question is from Leandro Bastos at Citi. Leandro, your audio is released.
Okay. Thank you. Thanks, guys. Good afternoon. Two questions here on our side. The first one is about working capital. I noticed that there's some volatility in the currency, and Matheus also talked about the effect of all of the innovation in this industry. Considering this new moment in the company, what would be feasible considering these specific effects with the levels of working capital? What are you guys focusing on here, and what can you share as perspectives? I think that would be interesting to hear from you guys about. That's the first point. Then secondly, if you could talk about the margin. The company has better perspectives for growth, and with the operational leverage as well. If you could talk about the EBITDA scenario, what we can work on here in the EBITDA margin. I think that would be a good point. Thank you.
Thank you, Leandro, for this question. Well, when we start about the margin, I think in the first quarter we went up another layer here on the growth of the revenue. We have the new lines to enter operations. We have other topics as well that could interfere positively in the evolution of the margin besides the currency itself. It's natural to expect to wait for the maintenance of the margin in the first quarter and then possible improvements, which I think is our main objective, right? Trying to win about 100, 200 bps this year.
When we look at the working capital, I think the receipt from customers, we don't see a lot of room for improvements considering the scenario we have. The company has been working on different diversification movements, the first phase, direct sales, an interesting initiative we started. We still have the distribution channel, which is super important for the company. The sale of Republic with normalized scenario, we still need to reflect a bit of the scenario from a macroeconomic perspective to keep at that level of 90 days. The big objective is the stock, right? For us, that's the biggest goal. There was this improvement in the 1st quarter. You have the R&D that we need to isolate considering the investments company's been working on.
Then you get back to that point, which is we should have an improvement about 45 days in the cash cycle coming mainly from inventories. Of course, if we have any other opportunities of customers and suppliers, but maybe at a lower level than what we've been searching for in inventories. When you go back to 2024, where you have the same trend of growth in the revenue and the working capital can keep up with this normally, right, getting back to that target or level.
Okay. Thank you very much.
Our next question is from Maria Eduarda Resende from BTG.
Hi, guys. How's it going? Thank you both, Marcelo and Matheus. I have two on our side here. The first one is following up on colleague on the images. In the beginning of the presentation, you talked about different initiatives for commercial expenses and administrative expenses. If you could provide some details on the biggest, what has been done internally. A follow-up on the final conclusions that you mentioned on the possibility of divestments at Hemarus. If you could also just maybe give us a status on the asset and if you guys already have any process underway for this possible divestment.
Thank you for the question. Let's start off with Hemarus. We still don't have any decision. We talked about a possible divestment, but we're prospecting this sale of the plasma. We're negotiating with different parties. We continue with this negotiation. We see some players that really will stock up on plasma with a bit of a pandemic impact still, where they invested a lot on fractioning and collections.
There are other players, however, that are entering the market from other countries in Saudi Arabia and other countries that are also interested in our plasma. We've also seen the possibility of selling our plasma to these potential customers. That's where we're gonna make a decision of if we're gonna perform this divestment or not. If we can sign this sales deal and at the levels we desire, bringing in margins and improvements in our consolidated revenue, we'll certainly be able to value this asset and be able to perform these divestments and better valorization.
Of course, we wanna have the best for our business, but we're still at this moment prospecting and reaching a conclusion of this agreement that can be positive for everyone, in the sense for the sale of the plasma.
About the initiatives, I think Blau this year has been a lot more structured and organized. We're looking at a exercise of support from consulting firms for a more strategic planning and that of course, involves other initiatives. We have this internal team prepared to work on reviewing processes and management and control of these expenses, looking at the resources and search for better productivity and efficiency. Another initiative also looking at transforming the company, especially with technology advances and changes in our systems and artificial intelligence.
Certainly you have the engagement from our internal team and external support as well. We can say we're really searching for this, we're going to search for reduction initiatives and optimization, which combine to the growth of the revenue. We're really optimistic and trusting the engagement of our team. It's the Acelera Blau that's really been organized with different initiatives, especially looking at processes and ongoing improvements, really well-structured. Today, you can talk to people and everyone is searching for solutions and understanding what needs to be done.
Just to add on, in our goals, each director within their business has to bring in as a target the presentation and application within their business of artificial intelligence bringing benefits to the company. The consulting services that we're only going to have their gains when you bring in good results, right. This brings in methodology and shortens this process. With the methodology, the know-how, the template, and who's going to actually implement the transformation is our internal team. They're doing this, and they're really engaged, and it's great to see how finances, together with Marcelo as well, have been helping this and supporting this. It's been great, and we're definitely going to reap the fruits.
Very clear, guys. Thank you so much.
We have some questions on the chat as well. I think the person from Paulo Neto, here from Blau. Fortunately, his question is very similar to Maria Eduarda Resende's question about the EBITDA margin. I think that's already answered.
Just to add this, we can also say that normally the first quarter has worse seasonality than the other quarters. On the other ones, we should have nominal revenues that is higher than the first quarter, which could eventually make the margins grow. The main point, of course, is these issues with optimizing all of the company's processes.
Thank you, Paulo Neto, for the question. Here we have a question also from Antonio Alex Morais Araujo. He's an individual shareholder. Well, good afternoon. To generate more value for the shareholders, he thinks we should increase the free float. Can we talk about this?
Well, every call we have been receiving this question, and I think we would also like to increase the free float of the company. We want to increase the number of daily transactions as well with our shares. I think that's going to happen naturally as we bring in results, increasing the revenue margin profitability, and shareholders are going to start really valuing this as we bring in the macro results as well.
Naturally, our stocks will be valued at a reasonable value so that we can then think about increasing the free float through maybe some kind of an M&A, having an operation there so that we can increase our shareholder base, right? That's what we are searching for, of course, at the values we have today, everyone knows we are one of the companies with the lowest value in the market. We are talking about four point something. That is almost five times our EBITDA.
It's very little to be trading at. We have no other peer in the market that's having this kind of result in our sector, right? It's very difficult. Over time, we're gonna bring in more trust to investors and more results. For sure, we'll be able to become one of the companies that investors are gonna be seeking to invest in.
Great. That's it. That was the last question. I wanna thank you all. These are five years ever since our IPO, and it's our first earnings after the five years from the IPO, and I'm more confident in the business more than ever. With this enthusiasm, focus was mentioned.
We're really building a company to be perpetuated, really well-organized with a more engaged team, searching for efficiency and also measuring productivity, which is super important for each person here in the company, and so that we can also compensate in the most adequate way whoever is bringing more productivity to the business. I'm really confident, especially with the future launches and the future production lines, the plant in Pernambuco. I think in every moment we've been experiencing growth and tangibilizing this growth in an organized way. I wanna thank you all for your trust, for being with us in this trajectory and our history and investing in our business. Thank you all so much. Have a great Friday and a great weekend. It's Friday.
Thanks, guys. Have a nice day. Bye-bye.