Hello. Welcome to the conference of the results from the third trimester of 2025 from Vittia. This is being recorded. The replay can be accessed on the site of the company, where the presentation will be available for download. We inform that all participants will be only watching the video conference during the presentation. We will start the Q&A later when more instructions will be provided. Before continuing, I will highlight the declarations as base from Vittia and the available information for the company. These declarations can have uncertainties and risks related to future events. So depends on circumstances that can or not happen. Investors, journalists, and analysts should take into consideration that events related to the events, macroeconomic can make the results will be materially different from those pressed on the declarations here provided. Wilson Romanini, CEO, is present. Alexandre, CFO, and Edgar Zanotto.
Mr. Wilson will start the presentation. You may start now, Wilson.
First of all, good morning to all. We are going to present our results from the third trimester. That even though the great challenges that we have been facing this moment in Brazilian agro, even the global perspective, Vittia has been performing within its criteria, trying to make the best possible to aggregate value to all that are involved into the business. To speak a bit about the highlights from the third trimester, we have a generation of cash flow, which is very well demented, and there are disciplines for credit and what we have been searching within the company. We had a growth, very interesting in the soil, almost 33%. We are close to the EBITDA from BRL 33 million, 0.4% related to the 2024. That grew also 5% in BRL 325 million. Our results was 12% superior from the same period as last year.
We did all the process and we bought again. In the pacification of our company, it is out of the norm. Also doing through JCP to our shareholders. Vittia México, which is a project of ours, that it starts to have a commercialization at a small value from 2025. But a very high perspective for 2026, 12 registry that are active. We are in the process, keeping the biological products within six months period, we are going to have that on our shelves. We see that at a winner project, and at any moment we are launching new products. We have a launching of Tricho-Turbo, exclusive strain. The products that performs better than our previous products. To talk a bit about our performance. I spoke previously, we have an increment for more revenue. We should be seeing the results from other companies in the sector.
But now a few companies from the sector are performing on the work that we have been doing. It was a very interesting performance, less than we wanted, but within what is possible on the market with a given time. With a year, we had a lot of challenges, the producer looking for rationality, trying to equalize their performance, been utilizing a mix of products that end up generating an aggregated value that is a bit smaller and consequently a group revenue. Vittia has something very interesting because it is a company with a vast portfolio on these difficult moments. It is a company that is able to help the markets, what it is looking for. We have been seeing that in a very insistent way. The rationalization of it started in September 2023.
We had our challenges in the agrobusiness in 2021, 2022, and then things start to change. We understand a clear way that we had to go inside our structure and to distribute better our expenses with the greatest efficiency. Another point is related to credit. Agro has been going through a tough time with taxes that have been very high, the interest rates, the leverage is very big on the sector. Within Vittia, we try to have a discipline which is very intense when there is a credit scenario. It ends up being a cash flow, more positive. When we talk about risks and opportunities, we live in a scenario very complex. I think that we can have great news for 2026. This is a very good feeling, my feeling, particularly, that it echoes among the company, but the challenge is very big.
We are always working to try to do the best way possible and to believe in what we do. There was a non-definition very big by the producer. For the farmers, when we get the three bases of line, we saw everyone want to do a big correction. With the biological parts, again, it has a growth. When we get into fertilizers, that are products that are used on the leaf, that the farmer wants to feel a bit more. He wants to know if his crop will develop well or if it is really going to give what he wants, what he is wishing. He is going to have a work towards investment in this way. We live in an environment that it is irregular, that the rain, it is different from last year and the previous one.
So you guys have an idea, I was talking in the region of BR-163 in Mato Grosso, we have a soy with five days and five with already with 50 days. You see the irregularity. You see the time of plantings and are over 40 days. We have opportunities. We are working in an intense way related to innovation. We have the launching of Triunfe. These products, we are able to put in a lot of places in Brazil. Next year, because of the performance, we are going to have a sale that is very interesting. We did the innovations on the Bovéria-Turbo, Meta-Turbo, and Tricho-Turbo to bring in products with more efficiency. Talk about our positioning, the discipline, it is a constant related to the credit work. We are at every moment next to the farmer in a place that we never stopped investing.
It was in the commercial network, bringing people that were trained with greater experience. Trying to be next to the producer. To look for new technologies and greater productivity. We have an evolution, constant evolution, like we said, on the solutions, biological solutions, a lot of things that are being developed within our PD&I. Like we said, we have a portfolio that is very complete. In these moments, the business of herbicides helps us go through these moments and maintain the change. It will be better in the way that we imagine. The company will be very well prepared to shine in the scenario that is more favorable. Frizzo, now it's your turn now.
Thank you, Wilson. Good morning to all. We'll go into the detail of the performances by line of business and the development of financial developments. Starting of the revenue liquid. We started very interesting on the fertilizer, with a mix of factors helping with the performance to be positive. A line that had a positive impact on price. We had a greater demand because of technology, of micro soil, and a gain of market share, combination of these three factors to have a greater performance on the trimester and accumulated throughout the year. We go into this biological solutions and natural ones. We have a positive trimester, not as we would like to, but we grew 12.6%. On a year on a small growth. We believe that the market, it's an important level of delay.
With more intensity on the foliage that we're going to speak later on, impacting on the biological solutions and natural ones, that it performs better, mainly to the demand of this kind of technology and the launching of that we've been doing throughout the year that have been helping the performance of the line. We had a growth, even though on a trimester that was delayed in a difficult year. On the foliar fertilizers and just for us, we were a bit negative. Started a rough year. Had a farmer that had a narrow margin that is leaving the technology from foliar for the last moment. It means that there's a delay because of that's important. But we don't know what are the intensity of the use of the technology in this scenario.
Even though we think that the delay will recompose itself, but we don't know if the farmer, the producer, will use the technology and the intensity that they used in the last couple of years. We've seen that with the diminishing of the technology related to risks. When we see under this line, we see mixed, worse mix related to the other years with a greater demand for older technologies, consequently, with a less value, which it was aggregated. Now going to the next slide. As a result, the gross profits and gross margin by segment. The micro soil performed better than the other ones. From 32% from 28%. But when we look each of these lines, we see that the scenario is challenging for all the lines.
For fertilizer, soil fertilizer, we had a stability, but the margin was a straight margin, narrow margin. It's characteristic from the line, but the other lines, we had a little bit of loss from the margin that we considered positive in a way, given the scenario of this year. A very tough year with some technologies where there's pressure towards price, and we've been working in the parts of cost reduction to try to deal where we're not able to gain on the commercial parts. Going to the next slide now. Related to the selling, general, and administrative expenses, we see that we're going in the strategy to search for efficiency, trying to be able to deliver a performance within what is expected. It's easier, which is to be completely under our control.
The important thing to comment is that this trimester it was a factor, extraordinary, that impacts as a whole, generated some just lines and the unity of Patos de Minas of mineral-organic. It's a project that we believed, that we ended up having some delays on this project related to markets and also related to integration of this technology within the group. We weren't able to have the performance that we wanted, but we understand that in short term, we weren't able to revert this scenario.
To go back on this and this technology and this unity from, or place from Patos de Minas, we ended up ending in Patos de Minas to focus on the lines that were promised that we have within the company and to end this part in Patos de Minas from a point of view that we had a land that was rented, that we did some good things and we won. We were able to go back there again, to get that back. Then regular expenses, like with people, transportation, what we had to dismantle to bring to our branch in Serrana of our mineral-organic. Remember, that is still on our portfolio, but now it's focused on our technology. Historic that it's based on turf, where Patos de Minas we used the cow bag.
We still keep the portfolio of organic-mineral, but it's more focused on our original technology. Of course, less investments and focus what we had when we started this project. That was through the acquisition of the company Vitória Fertilizantes. Not considering these factors, we had a SG&A a little bit lower than the same period from last year. Throughout the year, we're a bit lower, but it's not what we await for the end of the year. We had a factor of this reversal. If we burn this factor, we will have a small growth on the trimester. Probably a stable performance. Today, we comment we no longer have the reduction strategy of expenses and structure like we had beginning of October, November 2023 and throughout the year of 2024, that it resulted in some economies on the last trimesters.
The expectancy now and our strategy is to have things very controlled without reductions. Related to this economy, we were able to keep this EBITDA very close. Even related to growth that had a small margin, we had a small loss, couple of percentages. Related to CapEx, we don't have no news. Our strategy was to invest with smaller investments. We focus on efficiency, operational efficiency, and we're able to fulfill the strategy. We're performing lower than last year, 7.7% smaller. The only investments that was more expressive, it was on the plants of typical defensives, on our typical pesticides, that we did BRL 4.2 million of total of BRL 7.3 million planned for 2025. We're able to adjust the estimates and BRL 10 million we're able to adjust. So we focused on the part of efficiency, operational efficiency, that a greater compensation related to cost.
Here it is the positive highlights. We have been performing the last three quarters, the cash flow management and our financial discipline. We had a generation cash flow positive on the quarter and this year, with a relevant growth related to the same period of last year based on our discipline related to credits concession and the injection of cash flow. The agro is a lot challenging related to the aspect of credit. This work is not the result of the year, it is a result of our management within the cycle of a couple of years. We do not make this happen from day to night, from day to the other. When we have now where we were harvesting the crops from the periods with greatest euphoria, a level that is very controlled of us.
Consequently, with a very controlled leverage, and we closed the nine months from 2025 with 0.9 with dividends. Even consider a payment of buyback pro over BRL 40 million. We see very conservative in this scenario, and we are taking benefits with a cheap credit, and we are able to get even cheaper considering to the previous years. We understand the company has a position that is privileged in this market, which is a point of view to capitalization. We are very calm related to that aspect. We are able to keep our plans and our strategic commercial strategy without having to do any kind of adjustments for a matter of it has been very. Like you guys know, this agro has been going through a rough time now related to distribution and company, also related to liquidity. With the financial results, the performance was slightly greater than last year.
The main factor here was the AVP that goes into a financial result. With the capital costs going up, it automatically goes up in comparison to the annual results. IR and social contribution, it is a factor that is more seasonal. It is much more superior than last year that we recognized the JCP. We had the declaration of two JCPs, intermediate ones, on the third trimester of 2025. On the counterpart, comparing to 2024, when we declared all JCP only on the fourth trimester, the fourth quarter. So we will equalize. The fiscal results from the years will be similar, not like now that we have a performance that is substantially better than last with the net profit and net margin we had on the quarter, a result that was adjusted for demobilization.
The results that are usually greater than the previous trimester from 2024 and accumulated throughout the year. We have a result that is mainly stable. Now, Edgar will speak to the launching of the Tricho-Turbo and the innovation part.
Good morning, everyone. Thank you for being here to see our live. Like we said, I keep on talking that the last live that we had, the results, that this year we had a bit more products related to have a better portfolio. So products that had to substitute things that have been going on. The launching that we had recent was the Tricho-Turbo OD, which is a fungicide. It is a bit more stronger. We have a greater capacity of manufacture and productive capacity, a greater one. We have better protection, a formulation. The quality is differentiated, better. It is one more product. We have the Meta-Turbo Max and Bovéria-Turbo WP recently. Now we have the launch of Tricho-Turbo OD, completing four launches this year.
Coming with Triunfe, which is the greatest launch of the year. Can go to next slide, please. The investments that we have and our innovations, they are still very stable. We are not cutting investments in this line. If it is part, when it is reduction, it is related to CapEx, where we did the investments on the previous years, and it is now a matter of reduction. There is no necessity for the CapEx now and the investments and biological products for new technologies and fertilizers. We are keeping the same level of investments. We completed four new registries this year. Another product that we are able to. More recommendations from biological parts with these registries of new products that we are able to use all the cultures that will start to aggregate new recommendations to use it.
Something that is very important to say, it is Mexico. Mexico, we have 12 products registered there. We started commercialization, active one there, and we have a great expectancy there with a lot of good partnerships in the next year, 2026. This is it.
Thank you very much, Edgar. To talk about a point of view for capital market, stock market. We are still suffering from the perspective, strong related to the agrobusiness. Our stock market are still not performing within our expectancy with the gap close. Because of that, we are still active in the rebuying program. We have BRL 3.4 million that we bought again. We had the end of the fourth program with the canceling of 3 million stock market that were in the treasury. 3 million shares held in treasury, and we went for a fifth share buyback program.
Number of shares to be acquired up to BRL 4.5 million. We are still going to be keeping within the strategy that we have been committing the last quarters to take advantage of these opportunities, but always in a gradual way. The buyback program is not a strategy that we wanted to do, but given this difference between the value of our shares, we felt the obligation to do this investment. It is end up being the best allocation with the shares within the base. But always doing in a gradual way. We are all having to have any kind of impact in terms of prices and pacification of markets. We believe we can start in the Q&A.
We are going to start a Q&A for analysts and investors. If you wish to do a question, click on raise your hand on the inferior parts of the screen. Our first question comes from Pedro Fonseca from XP.
Good morning, Wilson. Good morning, Frizzo, Edgar. Two points that I'd like to explore with you guys. First, related to the evolution of the shares of the sector, the wallets impacting of the whole sector with the delay. I'd like to do, how you guys see all this evolution throughout the Q4, and particularly, I'd like to listen to the use related to the foliar use, the line of business that maybe is a bit more behind, but that's the first point. The second point is, I'd like to listen from you guys how you guys are seeing the financial condition and health related to the farmers and producers in a great bank that has a great exposition to the agro and is reporting a greater loss. Without the players from, without the falls, without the brokerage of the harvest, if you guys think with those players.
With the inputs. If the worst has passed already, or if this is the moment to be cautious. Maybe we cannot be so aggressive, a growth of number of clients, et cetera. This is my two points. Thank you very much.
Good morning, Pedro. How are you? I'll start here. If he wants to highlight something else, it's interesting. The matter of the evolution, we have now a wallet portfolio that is bigger compared to last year. It has some matters that has to be evaluated. It'll depend on the rain, the stabilization. But it's a firm portfolio, so that's what I can say. It's robust enough. The market, it's the market. This year, we think in a way, next year, we think in a different way. The person that puts things from the world into his life is completely wrong. Things that we're doing today, this moment, we're going to do different for tomorrow. The portfolio, it's a greater portfolio than the same period of last year.
Related to foliar, as I spoken previously. We had a year that was very interesting, the sale of the soil-related products, fertilizers, soil fertilizers. I think this is in a point that we have a very big competition. We have good partners. And this way, the producer, farmer, did his investment. Now this is something that's rising. This is perception of this technology and looking for this greater productivity. And of course, we end up getting some things related to the work. I had no doubts about that. When we speak about the fertilizers, foliar fertilizers, what is the producer, the farmers thinking? We want to see, like I said, the previous year, you get Mato Grosso BR-163. We see soy sprouted with five and 50 days.
What is the producer thinking, the farmer in a more complex situation, being more rationalized, rational possible, is do the spraying in the right moments. He will see if his crop reserves, if they will need, if the rain will fall, if I have a good formation, and he will do. What can he do is to exchange the mix in terms of technology. When we talk about foliar fertilizers, specialties, you see effectively a lot of ways. Sulfates, nitrates. You see all the products about the concentrated suspensions and carbonates. Automatically, the producer, the farmer is migrating to products with less aggregated value. But we understand that the markets have a normalization related to the climates he will consume. He will consume. I have no doubt about that.
We don't see expectancy, a great expectancy to reach December 30th with a number that is so interesting in relation to this line. Now we are searching for going to other markets, other cultures, so we can perform in a more interesting way. You asked already, you also asked also this related to the bank, it didn't end. What you said about the bank is not over yet. There's a lot of challenges up front. The leverage is very big. The interest rates are out there. We're listening all the time. There's not expectancy that a fall of interest rates drop, and there's a lot of things to go on before we can reach a proper conclusion. This is our understanding, Pedro. The market is very dynamic. When you're here, I'm over 30 years in the agrobusiness.
We've never seen a process that is very, and related to difficulty. But things change, and I think it will change. It's a matter of diminishing the glowing of the productivity in Brazil, where a big delay related to the planting of soy. We're going to have a smaller area related to corn. The global consumption of protein is getting higher day by day. We see all the evaluations that we're going to be producing. It's not going to be on the same level of stock compared to next year. Good news will come. We're very conservative, that's why we're presenting the results. It's not what we wanted, but we're showing results. I think it's very within our conservative way.
Okay. Thank you, Wilson. Thank you for going deep into the answer. Just making sure. You believe that we're able to have a reduction of area, correct?
I think we will have it because we are having the soy planting very delayed last year. We have a climate regimen, very satisfactory. This window was very ideal for the planting of the corn. We got out of this window, this ideal window in some regions already. We understand the producer that will put all the stain, the products will be, we will use product with less potential. We will have less production of the harvesting. I have no doubt about that.
Thank you, Wilson, very much.
Our next question comes from Bruno Tomazetto from Itaú BBA.
Good morning, Wilson, Frizzo. Frizzo, on the previous comments, they happen very frequently that this appetite a little less related to these micros more challenging. I heard some comments from other parts of the sector, and this discussion related to price fixation is showed with more frequent numbers. In other forums also like to understand if in fact it is the greatest bother me. How do you compare this dynamic of mix with this medium price on the same base? If I am not mistaken, I had last area, to go with a smaller price. I would like to understand if this is kept for the moment. What do you guys think that you have space to happen in the ratification in 2026 and related to margin? Frizzo commented that there was this important change, getting more share in soil related to foliar use.
But also this dynamic of co-margin compression in the utilities and the building branches. Individually, when we Q4 2026, we have this expectancy that we have a return of the foliar, that we understand that mix will be a beneficial point of Q4. The question is to how we compare from now on this mix that can do better with these environments, that it's a bit weaker with margins. How to compare these two factors with the foliar being heavier than four.
Okay. So I'll start and you complement. So at the end, Bruno, yes, we are waiting on the fourth quarter of last year, the beginning of next year. We have a better performance on foliar parts and this acceleration of the soil. Micro soil, it's for planting. So we cannot expect that to keep the same demand at the end of the year and the beginning of the next year. So we wait. This renewal, we have a certain difficulty to understand what will be the level of demand, even though the renewal of this delayed cooperation with the cost cutting, a reduction of rentability that it's waiting for this harvesting. And producer is doing something very similar, like similar, they have a small revenue, so have to have a smaller cost. Of course, in this case, there's a little bit more complex.
Sometimes you have a smaller cost and smaller productivity. So these things are linked. So it's very challenging. Now, we've been seeing this kind of behavior, so I think more of resources than productivity this year. So this is the behavior, the dynamic for the harvest. But with the delay, yes, we wait for this mix on the fourth quarter and the first quarter of next year that's part of the harvest in 2025, 2026. So in 2026, we have this price drop. In 2023, 2024, the substantial price drops, but we see an environment that it's very challenging. We still see some kind of price drops and some seen as some stability. So this is a point of view of the industries related to agricultural imports, that we see some things getting out of the markets and environments that it's normalizing.
And related to the inputs, we haven't seen companies getting out of the market. We see a lot of companies going in the market. So level of reduction of rentability. First, if, one, we see a lot of companies that are facing challenges, financial challenges related to this scenario. So it's natural if it persists, this challenging scenario. So the price can always drop more. We can't say that it won't. But like I said, without any doubts related to price, the worst has passed already. That's our vision. And if Wilson wants to complement.
I think you're very complete on your answer. That's a feeling that we have here. There's nothing else to add to your answer.
Okay. Excellent. Thank you very much, folks.
Our next question comes from Pedro Gama, sell-side from Citi.
Wilson, Frizzo, good morning. Thank you for the Q&As. I have two questions. First, I would like to ask related to this difficult market in the agro for an interesting point that you guys mentioned, that the company was able to deal well with the cash flow, and it seems like it is with the less necessity of cash flow, in a way. I would like to understand of the measures that the company was able to take in this very hard scenario related to cash flow, explain to the level of sales. The second question is, I want to hear a bit about the new products and the knowledge of you guys. There are two. First, I would like to listen what has been the development of Triunfe that has been waiting for the launching of the products.
I have seen that you guys launched three new products in this release. I would like to understand what is the focus of these new products. Is it to reach other cultures beyond soy and corn, like sugarcane, coffee, or these products are still going to answer most of the demand of soy and corn? That is it, my question.
Thank you. Frizzo, if you would like to speak about the cash flow generation? Then we speak later about the other products.
Okay, point of view of cash flow, it is a mix. We have been doing on work here from the point of view of management, of cash flow, looking at the stocks. Related to working capital, and it works for a shorter period, and we have this policy. We could have a policy with more extended dates, but we have this to work with shorter period of time due to rentability and because of the profile of this kind of products. So it is a mix of both things. Related to generation and something natural that has to do with our business.
When we grow a bit more, we generate less cash flow because we have a necessity, we have less necessity of reinvestments in working capital and cash flow. Then we are more stable. We generate less working capital cash flow. Related to sales, we will be generating a little bit more sales with the cash flow of stocks. So it is a mix. We were commenting the demobilization of Patos de Minas because we had a very important level of stock in this line for mineral- organic in Patos de Minas. So we are done with that. So it is a mix of everything. The other question related to launching, maybe Wilson should say, or Edgar.
Okay. The first case is Triunfe. Triunfe is within our expectancy for throughout the year that we programmed of sales. But the matter of results and field, we are starting to do the applications now. It is a product mainly for soy, for rusting. We are starting with the first applications of Triunfe. So the client believes that after the year of Triunfe, it is next year, the launching, the greater volume, and the results. But the results from the field are only beginning next year. When we talk about launching of the products itself, we have other three products, biological defenses to insecticides and fungicides. Are products that are to better performance of our portfolio on the cultures that we have been working. Products that substitutes the products that existed. For [Bovéria-Turbo] , substitute Tricho-Turbo and Meta-Turbo Max, substituted the Meta-Turbo, and from there on.
So we are searching for products with greater efficiency, that will be more productivity related to our industry, and that is what we have been searching for, bring more stability for the producer. In these launches. But for the next launches, I will just complement the products that I have heard of. That will take longer that we have new microorganisms to be launched to other uses or more efficient than we have now. This takes a longer time because of products that are disruptive products, that takes longer time for us to get the proper registry. As you guys are aware, we have microorganisms in our collection that are very efficient. And first, they have never been talked about Brazil. The scientific community talk about this microorganism in Brazil. Later we do a monography to put this to the registry, and that is why it takes longer.
But we have a lot of things for the future, some closer and some a little bit more far away. Expectancy.
Okay. Thank you, guys.
Just a reminder, you just click on the raise your hand on the button or on the Q&A on the chat to answer your question. Next question from Gustavo Torres. He asked, the biological market is very competitive and traditional chemical companies are exposing these chemical parts. How do you competitiveness and how do you guys position yourself related to the competition? Is agro towards the fruits and corn and avocado, where do you guys pretend to work? Juan asked for a little bit more details on the operation in Mexico, sales potential, and sales potential to the U.S., et cetera.
Okay, let me answer here the matter of the biological part. Edgar goes with the Mexico parts, will speak better to you, guys. The scenario is important when you go into this biological world, something new. But we have within our time and all our work, when it's being born, we have from 7 - 10 years. So there's a lot of adventure in the market. There's a lot of companies and entrepreneurs that thought it was something very beneficial, gold key. A very big challenge to produce biologicals. It's no joke. We had the on-farm wave, and this wave is diminishing. We see big companies that thought about to produce this and they threw their towel already. They gave up. The big companies like Syngenta, Bayer, BASF, or Corteva, everyone is just going after this market.
You see in a very clear way that our products, the biodefensive, they're so efficient or more efficient than the chemical defenses we have. We have a program from BioVittia. We have labor 100% biological. I can think about how to deal with this related to the management. That's the way. Maybe in the future, things will be a bit different. The chemical product builds up resistance, and the biological product doesn't build resistance. We see these movements of these big companies, they will go into this market. Now, there's a very important point here. I want to talk about these big companies. These companies, they have a commercial policy. They have a worry, big worry related to the quality of the products. I have no questions that it's very good to compete with them instead of competing with companies that are just going now in the markets.
They don't even know what they're doing. That's the truth. We don't see this as a point of great challenge. We're at every given moment, let's say, trying to search within Vittia. So you guys can have an idea. We have a PD&I that is particularly hard to have, not only in Brazil, but outside, overseas. We have a genetic bank, very big one, huge one. Edgar just mentioned that we're in the tip of the iceberg. We have things that are more efficient within our bank, but it takes time. So these things, they're not even known. So we're going to have to develop the literature of all these products. Vittia is very well prepared. These strains, with all this regulatory process, it demands time. So we're going to work as we can and within the matter of rationalization. The money here, it's not infinite.
It's within the proper ways to go in all the company sector to understand what will give the biggest yield. To talk in a very clear way to you. The matter of Vittia México, Edgar, he's more aware of this subject.
Thank you, Wilson. Vittia México, to really start, as Gustavo Torres mentioned, it's agro that's both towards fruits and vegetables. Even though corn is a bit lower, I think that was the greatest one. We're focused on the structure that will add more aggregated value. So all of them, you've seen some from nuts, that's very strong. The area of berries as a whole, strawberry, blueberry, all kind of berries, et cetera. We're also working with beans, avocado, apples. We started a strong work with our branch here, that we started in Chihuahua, in the North of Mexico. Because of that, we started the development and it is closer there. But now we have people working in the central part, also Sinaloa, Baja California, Guadalajara. We had over seven people there working for a time already, for a period of time.
Also with sale, we imagine that next year we will start in a stronger way in these regions. We started first the work, more objective. But it is to help Mexico as a whole with partnerships and distribution. It is a market that is a bit different than in Brazil. The direct sale is not so big. It is not so big areas like we have in Brazil. So we have been looking for good distributions and partnerships in Mexico. The scenario, thinking about, I have been there a couple of times, and the biological for Mexico has a lot more products than for Brazil that had, like 15 years ago. But the technical knowledge and the quality of products there, it is what we had like 15 years ago in Brazil.
So that is why we are able to have a strong and fast growth and to help people related to the technical knowledge and how they use it. People are very freely to use and safe, but they had this disbelief, like we used to listen in Brazil, like when we started to work with these biological issues of like eight years. Oh, I worked, but it did not work. I work, but I do not believe. It is because everyone had bad experiences with other products, similar biological products. And we are going to have a very strong growth in Mexico and could be reference in some moments. I think that is it. As for possibility to go to the U.S. market, it exists, of course. Mexico, it is already U.S. farm. It is next to it.
There is the frontier, the border. California may be the next step for us because there is cultivation of these veggies and fruits and veggies that are very strong there. When we go there, we have a project of internationalization also for all the rest of Latin America that we are discussing nowadays related to registries and all the costs and et cetera to do an estimate to follow on these other countries.
Okay, so now the Q&A is over. I would like to give the floor to Wilson to give the final considerations of the company.
Okay. First of all, thank you very much for you guys being here, listening to us, listening to our company. I think the central point here that I like to leave in the point of view of market, Vittia is a company that is over 50 years in the market. So that is for no reason. I see in a very clear way all the people here on the administrative parts and related with the compromise with our history, working on the same sense, have the clear perception that we live in a market that has ups and downs. And we see this in a very lucid way, very clear way that the policies that we adopted to this path throughout this 50 years, over 50 years, it has been favorable for the company. So that is what we believe. This is what we have been doing.
And of course, better days are very short now. They will show up, and we are going to be there taking advantage of these better days. Thank you all.
So now it is over, our conference, and we will have other channels available to questions, Q&A. Thank you all for participating, and may you all have a good morning.