Brazil · Delayed Price · Currency is BRL Grendene Earnings Call Transcripts
Fiscal Year 2025
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Q4 and FY25 saw revenue and volume declines due to macroeconomic pressures and import competition, but margins were preserved through pricing and mix strategies. Online and value-added segments grew, while robust cash generation supported a record dividend payout.
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Q3 2025 saw strong export and e-commerce growth, but domestic sales declined due to inflation, high interest rates, and competition. GGB consolidation boosted external revenue, while Melissa brand outperformed with premium products. Dividend distribution and real estate investments remain key focus areas.
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Gross revenue rose 6.5% year-over-year despite a 10.5% volume drop, driven by price adjustments and export growth. Margins improved, and GGB restructuring is underway, with breakeven targeted for 2027–2028. Dividend payments remain strong.
Fiscal Year 2024
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Fourth quarter 2024 delivered double-digit growth in revenue, profit, and margins, with strong export performance and robust results from the Melissa brand and e-commerce. Management adjusted for non-operational items and expects stable COGS in 2025.
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Q3 2024 delivered strong revenue and margin growth, led by domestic market and Melissa brand, while exports declined amid global headwinds. Recurring net profit surged 45.9%, and dividend yield stands at 5.1%.
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Revenue and margins grew in Q2 2024 despite challenging markets, with strong export and Melissa brand performance. Gross margin improved to 42.6%, recurring EBIT rose 47.6%, and a share repurchase program was approved.