Board Change • Jul 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jun 02
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to R$30.00, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 18x in the Metals and Mining industry in Brazil. Total returns to shareholders of 17% over the past three years. Board Change • May 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 22
Upcoming dividend of R$1.86 per share Eligible shareholders must have bought the stock before 29 April 2026. Payment date: 31 December 2026. The company last paid an ordinary dividend in March 2016. The average dividend yield among industry peers is 6.2%. New Risk • Apr 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 163% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 39% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Annuncio • Mar 31
Panatlântica S.A., Annual General Meeting, Apr 28, 2026 Panatlântica S.A., Annual General Meeting, Apr 28, 2026. Location: rua rudolfo vontobel, 600, distrito industrial, city of gravatai, state of rio grande do sul., gravatai Brazil Board Change • Mar 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 23
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Nov 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 3.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 35% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (2.2% net profit margin). Board Change • Nov 07
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Aug 25
Now 21% undervalued Over the last 90 days, the stock has risen 7.9% to R$36.70. The fair value is estimated to be R$46.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 8.3%. Board Change • Aug 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 18
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: R$472.9m (down 4.2% from 2Q 2024). Net income: R$7.84m (down 44% from 2Q 2024). Profit margin: 1.7% (down from 2.9% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 13% per year. Board Change • Aug 04
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to R$40.00, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 8x in the Metals and Mining industry in Brazil. Total returns to shareholders of 4.5% over the past three years. Buy Or Sell Opportunity • Jun 09
Now 25% undervalued The stock has been flat over the last 90 days, currently trading at R$31.51. The fair value is estimated to be R$41.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 67%. Board Change • Jun 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Revenue: R$529.4m (up 15% from 1Q 2024). Net income: R$17.1m (up 15% from 1Q 2024). Profit margin: 3.2% (in line with 1Q 2024). Upcoming Dividend • Apr 18
Upcoming dividend of R$1.93 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 28 November 2025. Trailing yield: 1.6%. Lower than top quartile of Brazilian dividend payers (10%). Lower than average of industry peers (9.2%). Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: R$3.54 (vs R$0.56 in FY 2023) Full year 2024 results: EPS: R$3.54 (up from R$0.56 in FY 2023). Revenue: R$2.11b (up 12% from FY 2023). Net income: R$84.7m (up R$71.2m from FY 2023). Profit margin: 4.0% (up from 0.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R$37.00, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 8x in the Metals and Mining industry in Brazil. Total loss to shareholders of 21% over the past three years. Annuncio • Mar 25
Panatlântica S.A., Annual General Meeting, Apr 24, 2025 Panatlântica S.A., Annual General Meeting, Apr 24, 2025. Location: rua rudolfo vontobel 600, distrito industrial, city of gravatai, state of rio grande do sul, gravatai Brazil New Risk • Dec 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R$606.9m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 17% per year over the past 5 years. Minor Risk Market cap is less than US$100m (R$606.9m market cap, or US$99.8m). Reported Earnings • Nov 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: R$599.3m (up 28% from 3Q 2023). Net income: R$41.4m (up R$41.3m from 3Q 2023). Profit margin: 6.9% (up from 0% in 3Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to R$36.00, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 7x in the Metals and Mining industry in Brazil. Total loss to shareholders of 29% over the past three years. Upcoming Dividend • Aug 30
Upcoming dividend of R$5.01 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 20 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of Brazilian dividend payers (8.3%). Lower than average of industry peers (12%). Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to R$35.00, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 6x in the Metals and Mining industry in Brazil. Total loss to shareholders of 41% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: R$493.6m (up 7.9% from 2Q 2023). Net income: R$14.1m (up R$13.6m from 2Q 2023). Profit margin: 2.9% (up from 0.1% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Mar 12
Full year 2023 earnings released Full year 2023 results: Revenue: R$1.88b (down 19% from FY 2022). Net income: R$13.4m (down 76% from FY 2022). Profit margin: 0.7% (down from 2.4% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Feb 29
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Oct 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Aug 25
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: R$457.3m (down 28% from 2Q 2022). Net income: R$471.0k (down 99% from 2Q 2022). Profit margin: 0.1% (down from 7.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Jul 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Oct 29
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 07
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: R$631.7m (down 17% from 2Q 2021). Net income: R$49.8m (down 44% from 2Q 2021). Profit margin: 7.9% (down from 12% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Board Change • Jul 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jun 13
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 20
Upcoming dividend of R$2.91 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 29 December 2022. The company last paid an ordinary dividend in November 2011. The average dividend yield among industry peers is 14%. Board Change • Mar 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: R$12.26 (up from R$7.63 in FY 2020). Revenue: R$2.67b (up 86% from FY 2020). Net income: R$293.3m (up 61% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Board Change • Jan 07
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 06
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improved over the past week After last week's 74% share price gain to R$120, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 9x in the Metals and Mining industry in Brazil. Total returns to shareholders of 673% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 45% share price gain to R$79.90, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 15x in the Metals and Mining industry in Brazil. Total returns to shareholders of 391% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improved over the past week After last week's 20% share price gain to R$59.89, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 16x in the Metals and Mining industry in Brazil. Total returns to shareholders of 286% over the past three years. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS R$9.99 (vs R$0.98 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R$1.44b (up 37% from FY 2019). Net income: R$182.5m (up R$164.7m from FY 2019). Profit margin: 13% (up from 1.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 23% share price gain to R$45.99, the stock is trading at a trailing P/E ratio of 6.7x, up from the previous P/E ratio of 5.4x. This compares to an average P/E of 31x in the Metals and Mining industry in Brazil. Total returns to shareholders over the past three years are 193%. Is New 90 Day High Low • Dec 07
New 90-day high: R$35.06 The company is up 21% from its price of R$28.93 on 08 September 2020. The Brazilian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 35% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: R$34.97 The company is up 14% from its price of R$30.81 on 11 August 2020. The Brazilian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 10.0% over the same period. 
