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1 Q 2 5 R E S U L T S
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AGENDA 1Q25 RESULTS I L S O N M A T E U S EXPANSION BUSINESS HIGHLIGHTS J E S U I N O M A R T I N S FINANCIAL RESULTS T U L I O Q U E I R O Z NORTHEAST EXPANSION S A N D R O O L I V E I R A 2
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EXPANSION I L S O N M A T E U S 3
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2025 EXPANSION 4 1Q25 RESULTS SÃO MATEUS JABOATÃO DOS GUARARAPES PARQUE ATHENAS (SÃO LUÍS) ILHÉUS PE MA
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PA MA PI CE PE PB AL SE BA 73 STORES 14 STORES 9 STORES 13 STORES 4 STORES 2 STORES 9 STORES RN140 STORES 12 STORES STORES276 92 STORES 45 STORES 35 STORES 104 STORES 227 MINI MARKETS 4.700 SALES REPRESENTATIVES + DE 45,000 + 1,700 CITIES SERVED 18 DISTRIBUTION CENTERS CLIENTS SERVED PER MONTH+ 1Q25 CURRENT SCENARIO 5 1Q25 RESULTS
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ROSÁRIO MARITUBA ANANINDEUA MA PA PA 2025 EXPANSION 6 1Q25 RESULTS NEW STORES OPENED IN APRIL 2025
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7 1Q25 RESULTS 2025 EXPANSION 16 OBRAS EM ANDAMENTO EM VÁRIOS ESTADOS BELÉM | DOCAS- PA FORTALEZA | GUARARAPES - CE FORTALEZA | JUNGURUSSU - CE ARAPIRACA- AL SALVADOR | SHOPPING - BA SÃO LUÍS | SHOPPING - MA ARACAJU | SANTA MÔNICA- SE PORTO FRANCO - MA SÃO LUÍS | PONTA D’AREIA - MA MARANHÃ0 BAHIA CEARÁ PIAUÍ ALAGOAS PARÁ SERGIPE SÃO LUÍS | ANJO DA GUARDA - MA TERESINA | JOÃO XXIII- PI FEIRA DE SANTANA - BA + JACUNDÁ - PA + SÃO LUÍS | MAIOBA E JK | IMPERATRIZ- MA + TERESINA | FREI SERAFIM- PI
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BUSINESS HIGHLIGHT S J E S U Í N O M A R T I N S 8
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HIGHLIGHTS 1Q25 RESULTS 1Q25 SAME-STORE SALES GROWTH 4M25 Adjusted for Leap Year Effect * GROSS MARGIN EBITDA NET INCOMENET REVENUE BRL 8.3 bn vs 1Q24 +12.9% + 7.1% 1Q24: + 9.6% + 23.0% +0.7 p.p. vs 1Q24 BRL 650 mn +27.4% vs 1Q24 EBITDA MARGIN 7.8% BRL 319 mn vs 1Q24 +32.5% +BRL 1.0 bn Nominal value increase +0.9 p.p. vs 1Q24 NET MARGIN 3.8% +0.5 p.p. vs 1Q24 9 * SSS refers to sales growth in the same stores from January to April 2025, adjusted for the leap day effect (Feb 29, 2024). Preliminary and unaudited April/25 data. 9
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NORTHEAST EXPANSION S A N D R O O L I V E I R A 10
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NORTHEAST EXPANSION PERFORMANCE 1Q25 RESULTS Source: Nielsen - does not include Wholesale B2B sales • STORES OPERATING FOR MORE THAN 13 MONTHS (LOCATED IN CE, PB, PE, AL, SE AND BA) • INCLUDING ADMINISTRATIVE EXPENSES 39 STORES Market Share Evolution Grupo Mateus self-service stores + Cash & Carry - NE + PA 25.3% 26.4% 1Q24 1Q25 +1.1 p.p. Market Share NE + PA 18 STORES 3.8% 5.3%5.4% 7.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 12M de Abr/23 a Mar/24 12M de Abr/24 a Mar/25 Northeast Branch - EBITDA Margin Evolution Pré IFRS 16 Pós IFRS 16 11 Pre – IFRS 16 Post – IFRS 16 LTM (Apr/23 -Mar/24) LTM (Apr/24 -Mar/25) 11 1.6 p.p.
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FINANCIAL RESULTS T U L I O Q U E I R O Z 12
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GROSS PROFIT AND GROSS MARGIN 1Q25 RESULTS GROSS MARGINS 22.3% 22.4% 22.7% + 16.2% (+0.7 p.p.) 23.0% 1,650 1,712 1,894 2,004 1,917 1T24 2T24 3T24 4T24 1T25 23.0% R$ Mm 13 1Q24 2Q24 3Q24 4Q24 1Q25 SIGNIFICANT GROWTH IN GROSS PROFIT GROSS MARGIN UP BY +0.7 P.P. IN 1Q25 VS. 1Q24 13
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OPERATING EXPENSES 1Q25 RESULTS 1,140 1,152 1,215 1,278 1,268 1T24 2T24 3T24 4T24 1T25 + 11.2% (-0.2 p.p.) TOTAL OPERATING EXPENSES/ NET REVENUE 14.6%15.4% 15.1% 14.6% 15.2% R$ Mm 14 1Q24 2Q24 3Q24 4Q24 1Q25 DILUTION OF -0.2 P.P IN THE QUARTER IN OPERATING EXPENSES/NET REVENUE. 14
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EBITDA POST IFRS 16 1Q25 RESULTS R$ Mm EBITDA MARGIN Excluding extraordinary effects (1) 6.9% (1) Extraordinary Effects Recognized in 2Q24 were primarily: (i) the impact of the understanding established by the Superior Court of Justice (STJ) that the value of ICMS under tax substitution (ICMS-ST) does not form the calculation basis for PIS/COFINS credits on the acquisition of goods for resale; and (ii) a tax benefit from previous periods, mainly related to PIS/COFINS credits on essential operating expenses 8.4%8.2%7.4% + 27.4% (+0.9 p.p.) 510 565 685 730 650 1T24 2T24 3T24 4T24 1T25 7.8% 15 1Q24 2Q24 3Q24 4Q24 1Q25 SIGNIFICANT EXPANTION OF EBITDA MARGIN OF +0.9 P.P. VS 1Q24
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NET INCOME 1Q25 RESULTS 240 347 379 388 319 1T24 2T24 3T24 4T24 1T25 +0.5 P.P. NET MARGIN IMPROVEMENT WITH 32.5% NET INCOME INCREASE R$ Mm EFFECTIVE INCOME TAX RATE 11.9% 18.5%13.7%1.0% NET MARGIN 3.3% 4.4%4.5%4.5% + 32.5% (+0.5 p.p.) 12.3% 3.8% (1) Extraordinary effects: refer to the impacts recognized in EBITDA in 2Q24, as well as the effects on Income Tax and Social Contribution from previous years, recognized in 2Q24. As disclosed in the 2Q24 earnings release. 16 1Q24 2Q24 3Q24 4Q24 1Q25
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35 44 82 74 35 45 84 74 37 45 91 82 34 45 89 77 36 54 92 74 Recebíveis Fornecedores Estoque Ciclo de Caixa 1T24 2T24 3T24 4T24 1T25 + 10 DAYS 2Q24 WORKING CAPITAL 1Q25 RESULTS WORKING CAPITAL STABLE VS. 1Q24 + 1 DAYS + 10 DAYS STABLE 17 Trade Receivables Trade Payables Inventory Working Capital Working Capital (in days) 1Q24 3Q24 3Q24 1Q25
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CASH CONSUMPTION 1Q25 RESULTS R$ Mm 18 315.9 (4.8) (320.8) Net Debt Mar/24 Working Capital Recoverable taxes and other assets and liabilities FFO – Funds from Operation CAPEX Purchases/ Sales of real state Net Debt Mar/25 Net Debt Mar/25
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INDEBTEDNESS 1Q25 RESULTS CONSISTENT CONTROL OF DEBT LEVELS 473 584 1,110 610 614 0.27x 0.33x 0.57x 0.29x 0.27x Mar/24 Jun/24 Set/24 Dez/24 Mar/25 Dívida Líquida Dívida Líquida/EBITDA pré IFRS 16 Ajustado R$ Mm EBITDA pre IFRS 16 last 12 months 19 Sep/24 Dec/24 Net Debt Net Debt/ Adjusted EBITDA pre IFRS 16
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CAPEX 20 R$ Mm New Stores Lands Infrastructure, DC, IT and others Refurbishments, and Maintenance Purchase/Sale of Real State 1Q25 Net CAPEX -26.2% -79.4% -24.3% +1,241.4% -2,042.8% -6.2%Var. vs 1Q24 1Q25 RESULTS
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1Q25 RESULTS Q&A 21
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Investor Relations ri@grupomateus.com ri.grupomateus.com.br Disclaimer: The statements contained in this document related to business prospects, projections on operating and financial results and those related to Grupo Mateus S.A. growth prospects are merely projections and, as such, are based exclusively on the company's expectations regarding the future of its business. These expectations depend substantially on market conditions, the performance of the Brazilian economy, the sector and international markets and, therefore, are subject to change without prior notice. 1 Q 2 5 R E S U L T S