ANNUAL REPORT 2025 European single electronic reporting format (ESEF) and PDF version
This document is an unofficial and unaudited PDF version of the Annual Report 2025 of RAMADA INVESTIMENTOS E INDÚSTRIA, S.A.. This version has been prepared for ease of use and does not contain ESEF information as specified in the Regulatory Technical Standards on ESEF (Delegated Regulation (EU) 2019/815). The official ESEF reporting package is available on the CMVM website and was submitted on 5 March 2026. This document is a true copy of the aforementioned financial information. In case of discrepancies between this version and the official ESEF package, the latter prevails.
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(CHAPTERS WITHIN THE DOCUMENT)
MANAGEMENT REPORT
CORPORATE GOVERNANCE REPORT, which includes the Remuneration Report CONSOLIDATED FINANCIAL STATEMENTS AND ACCOMPANYING NOTES SEPARATE FINANCIAL STATEMENTS AND ACCOMPANYING NOTES STATUTORY AND AUDITOR'S REPORT
REPORT AND OPINION OF THE STATUTORY AUDIT BOARD
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MANAGEMENT REPORT 31 December 2025 TABLE OF CONTENTSINTRODUCTION 6
MACROECONOMIC FRAMEWORK 7
STOCK EXCHANGE EVOLUTION 8
GROUP'S BUSINESS ACTIVITY 10
FINANCIAL REVIEW 12
RISK MANAGEMENT 13
OUTLOOK 13
PROPOSAL OF THE BOARD OF DIRECTORS FOR THE APPROPRIATION OF
INDIVIDUAL NET PROFIT 18
LEGAL MATTERS 14
CLOSING REMARKS 16
ANNEXES TO THE MANAGEMENT REPORT 17
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