Brazil · Delayed Price · Currency is BRL Grendene Earnings Call Transcripts
Fiscal Year 2026
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Challenging domestic and international conditions led to lower revenue and profit, with a shift toward affordable products and strong online growth for Melissa. Dividend policy remains unchanged, and significant non-recurring items impacted EBIT.
Fiscal Year 2025
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Revenue and volumes declined due to macroeconomic pressures and import competition, but margins were preserved through pricing and mix strategies. Robust online growth and exceptional dividend distributions highlighted the year, while 2026 is expected to remain challenging.
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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.