M. Dias Branco 2Q26 net income drops 22% to R$ 168.9 million

• M. Dias Branco posted 2Q26 net income of R$ 168.9 million, down 22% from 2Q25.
• EBITDA fell 17.5% to R$ 284.4 million; EBITDA margin narrowed 2.2 percentage points to 10.5%.
• Net sales edged down 0.9% to R$ 2.7 billion, despite sales volume rising 4.4% to 477,000 tonnes.
• Gross margin widened 0.8 percentage points to 34.2% on lower variable costs; SG&A rose 14.3% to R$ 645.9 million.
• Operating cash generation declined 22.6% to R$ 321.8 million; net cash more than doubled to R$ 767 million, equal to -0.7x EBITDA.

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