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    Igor Guedes • Genial Investimentos

    Igor Guedes's questions to JBS N.V. (JBS) leadership

    Igor Guedes's questions to JBS N.V. (JBS) leadership • Q2 2025

    Question

    Igor Guedes from Genial Investimentos asked about the U.S. Pork unit, specifically whether there is an expectation to resume normal shipments of pork offal to China and restore realized prices in the second half of the year.

    Answer

    Wesley Batista Filho, CEO of JBS Foods USA, provided a clear and direct response, stating that trade with China has already resumed and is back to normal. He confirmed that the company expects to see normalized margins from the third quarter onward.

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    Igor Guedes's questions to Gerdau SA (GGB) leadership

    Igor Guedes's questions to Gerdau SA (GGB) leadership • Q1 2025

    Question

    Igor Guedes sought clarification on the difference between managerial CapEx and its cash effect, asking about the expected trend for the year. He also pressed for details on the pricing policy for long steels, specifically the trade-off between profitability and market share.

    Answer

    CFO Rafael Japur explained that the variance between managerial and cash CapEx is a timing difference in supplier payments that will normalize over the year. On pricing, CEO Gustavo Werneck was unequivocal, stating that for rebar in the distribution channel, 'there is no trade-off. Our issue here is market share period.' This indicates a clear strategic priority to defend and grow its position, leveraging its cost structure and balance sheet.

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    Igor Guedes's questions to Suzano SA (SUZ) leadership

    Igor Guedes's questions to Suzano SA (SUZ) leadership • Q2 2024

    Question

    Igor Guedes asked for a technical clarification on why capitalized interest is included in the working capital variation line on the cash flow statement, rather than being separated with other debt-related flows.

    Answer

    Executive Marcelo Bacci explained that this is a technical accounting item where interest related to the Cerrado project's construction must be capitalized according to accounting rules. Since it doesn't appear in the CapEx line, it requires an adjustment in the cash flow statement. He offered further clarification via the Investor Relations team.

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    Igor Guedes's questions to Companhia Siderurgica Nacional SA (SID) leadership

    Igor Guedes's questions to Companhia Siderurgica Nacional SA (SID) leadership • Q2 2024

    Question

    Igor Guedes asked if there was potential to extract further synergies from the acquired Lafarge Holcim assets and inquired about the utilization rate of those specific assets.

    Answer

    Executive Edvaldo Rabelo confirmed that while over 100% of the original synergy targets have been captured, the process is dynamic and ongoing investments are being made to eliminate bottlenecks and enhance efficiency. An unnamed executive added that significant upside still exists in optimizing logistics, including freight costs and distribution models, which is a key focus for improving profitability further.

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