Pbg S.a.registered Shs · BMFBOVESPA:PTBL3
Pbg S.a.registered Shs — Portobello Grupo (PBG S/A) — 1Q26 Earnings Presentation
25 slides from Pbg S.a.registered Shs's earnings presentation, 2026
Slide 1: Result Presentation 1Q26
fobello = Porrebetter POINTER ~~ Portobello
Slide 2: Disclaimer
Disclaimer The information provided by PBG S/A, including outlooks, projections, operational and financial targets related to the business, are forecasts based on management's expectations regarding the company's future. These considerations are not guarantees of performance. They involve risks, unc
Slide 3: Organizational Structure
Organizational Structure Geraldo Mattos Jr. Mauro do Valle Chairman of the Board Member Board Cesar Gomes Jr. Chief Executive Officer (CEO)* Ronei Gomes Romael Soso Luciano Alves Diogenes Ghellere João Oliveira Vice President of Finance Vice President of Retail CEO Ceramica CEO CEO Portobello and In
Slide 4: Brazilian Market | Industry
Brazilian Market | Industry Competitive dynamics remain pressured, with elevated industry idle capacity. Factory Occupancy ▪ The industry continues to operate in a highly competitive Market PBG environment with elevated idle capacity. Full Capacity 1Q26 Utilization 63.8% ▪ PBG maintains full manufac
Slide 5: Brazilian Market | Retail
Brazilian Market | Retail Reflected a more selective and competitive consumer environment for the sector. ICVA¹ | Building Materials % Revenue Variation ▪ The building materials market has Brazil | Annual Evolution 2.2% continued to show volatile behavior over recent quarters. 1.2% 0.8% ▪ At the beg
Slide 6: North American Market
North American Market Ceramic Tile Sales (TCNA)¹ Volume in million sqm The tile industry remains in contraction. 30.8% 32.7% 26.8% 27.2% 26.1% ▪ The macroeconomic and real estate environment remains challenging. For the sector, this was one of the weakest quarters in recent years. 60.5 63.7 62.6 51.
Slide 7: Net Revenue increased 0.9% vs. 1Q25
Net Revenue increased 0.9% vs. 1Q25 (R$ 5.3 million), International operations posted slight growth, reflecting a despite a still competitive market environment. more dynamic environment and contributing to the expansion of the Company’s international presence. Consolidated Net Revenue Net Revenue b
Slide 8: Net Revenue by Business Unit
Net Revenue by Business Unit Net Revenue by Business Unit R$ Millions Ceramica Portobello: -0.7% vs. 1Q25, maintaining operational stability, with highlights in the resale 642.4¹ channel amid a challenging and competitive 591.9¹ 597.2¹ environment. 88.9 92.8 102.6 68.8 Portobello Shop: -3.8% vs. 1Q2
Slide 9: Consolidated Gross Margin recovered by 1.9 p.p. vs. 4Q25
Consolidated Gross Margin recovered by 1.9 p.p. vs. 4Q25, reflecting product mix effects, lower operating costs, and improved manufacturing efficiency. Gross Profit and Gross Margin R$ Millions and Margin % 37.9% 33.4% 31.5% 224.1 202.4 199.4 1Q25 1T25 4T25 4Q25 1Q26 1T26 Gross Profit % Margin on Ne
Slide 10: Gross Profit and Gross Margin by Business Unit
Gross Profit and Gross Margin by Business Unit R$ Millions and Margin % Businesses showing gradual profitability recovery, even in a challenging environment. Ceramica Portobello Portobello Shop 150,0 44.7% 44.0% 150,0 40.8% 42.6% Ceramica Portobello: With a 0.4 p.p. contraction and 38.0% 37.7% 107.3
Slide 11: Operating Expenses
Operating Expenses R$ Millions and % of Net Revenue Compared to 1Q26 and 218.4 4Q25, Adjusted Operating 198.6 205.6 201.3 Expenses decreased by 157.9 177.8 0.3 p.p., reflecting greater 1Q25 34.0% 4Q25 efficiency in selling 32.0% 33.7% 198,6 33.6% 1Q26 expenses throughout the 26.4% 30.0% period. Tota
Slide 12: EBIT Margin recovered compared to 4Q25
EBIT Margin recovered compared to 4Q25, driven by a 1.9 p.p. improvement in Gross Margin, a 0.3 p.p. reduction in Operating Expenses, and Non-Recurring Effects (Sale and Leaseback). EBIT R$ Millions and % Margin 7.0% 4.3% -0.5% 41.5 25.5 (3.2) 1T25 1Q25 4T25 4Q25 1T26 1Q26 EBIT % EBIT Margin Corpora
Slide 13: EBITDA and Adjusted and Recurring EBITDA
EBITDA reached R$ 94.6 million and increased compared to Adjusted and Recurring EBITDA totaled R$ 51.2 million, with an 4Q25 and 1Q25, reaching a margin of 15.8%. 8.6% margin, increasing by R$ 11.2 million and expanding 2.4 p.p. compared to 4Q25. EBITDA Adjusted and Recurring EBITDA R$ Millions and
Slide 14: Financial Expenses increased 25.5% compared to 1Q25
Financial Expenses increased 25.5% compared to 1Q25, reflecting the effects of higher interest rates, increased Net Debt, and the use of financial instruments. Financial Expenses R$ Millions and % of Net Revenue -10.7% -19.0% -13.3% (63.5) (79.7) (122.2) 1T25 1Q25 4T25 4Q25 1T26 1Q26 Financial Expen
Slide 15: Net Loss
Net Loss, despite the improvement in operating performance, net results remained pressured by financial expenses. Net Loss R$ Millions and Margin % -5.5% -6.9% -27.0% (32.7) (41.1) (173.7) 1T25 1Q25 4T25 4Q25 1T26 1Q26 Net Loss % Margin on Net Revenue Corporate Presentation 1Q26
Slide 16: Working Capital remains pressured
Working Capital remains pressured, with highlights on supplier negotiations. Working Capital Customers 72 81 68 44 45 49 10 21 1 15 16 9 517 543 473 358 405 401 432 391 406 234 328 269 67 85 152 124 77 132 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Days Operating Days Working Capital Operating Working Capital Da
Slide 17: Cash Balance
Cash balance remained in line with the previous quarter, reflecting higher Working Capital consumption, positive Investment Cash Flow driven by the Sale and Leaseback transaction of the Marechal Deodoro plant (Pointer Unit), and positive Financing Cash Flow. Cash Balance R$ Millions 185.2 171.3 (0.9
Slide 18: Net Debt and Amortization Schedule
The capital structure remains pressured, with leverage stable compared to 4Q25, amid a still challenging environment of elevated financial costs and a significant concentration of debt amortizations, maintaining continuous focus on debt management and cash generation. Net Debt and Net Debt / EBITDA
Slide 19: 2026 Priorities
2026 Priorities 1. Operational Improvement; 2. Capital Structure Optimization. Corporate Presentation 1Q26
Slide 20: Operational Improvement Requires Adjustments to the Business Model
Operational Improvement Requires Adjustments to the Business Model. 2023 - 2025 2026 Volume Revenue Gross Margin Operating Expenses EBITDA Operating Working Capital Corporate Presentation 1Q26
Slide 21: 2Q26 and 2026 Outlook
2Q26 and 2026 Outlook • The building materials market is expected to remain challenging throughout 2026, reflecting elevated industry overcapacity and high inventory levels, factors that continue to pressure pricing dynamics across the sector. Market • Despite this environment, the premium finishing
Slide 22: 2Q26 and 2026 Outlook
2Q26 and 2026 Outlook • Optimization of Operating Working Capital as part of the adjustment process of the Company’s value generation model. Working Capital • The focus will be on the sustainable and continuous reduction of the Cash Conversion Cycle (CCC) throughout 2026, with the objective of relea
Slide 23: Q&A
Q&A Corporate Presentation 1Q26
Slide 24: Final Consideration
FINAL CONSIDERATION Corporate Presentation 1Q26
Slide 25: Investor Relation
Investor Ronei Gomes Vice-President of Finance and Investor Relations Relation Josiane Soares Tamanini Manager of Investor Relations Suelen Toniane Hames Investor Relations Coordinator Tayni Batista das Neves Investor Relations Analyst Website: ri.portobello.com.br Email: dri@portobello.com.br +55 (
Portobello Grupo (PBG S/A) — 1Q26 Earnings Presentation on 6ix