MYPK3: quote, dividends and indicators for Iochpe-Maxion

Iochpe-Maxion S.A. is a Brazilian company that traces its origins to the Ioschpe family’s activities in the timber sector starting in 1918 and, over the decades, diversified its businesses into the financial and industrial areas until consolidating its current corporate structure. Beginning in the 1980s, the company went through an acquisition cycle that led it to also operate in the agricultural segment and, in 1984, it went public on the then São Paulo Stock Exchange, now B3, where its common shares are traded under the ticker MYPK3. In the 1990s, the company implemented a strategic reorientation, divesting assets not related to auto parts and railway equipment and focusing on these activities. In 1998, it began a corporate restructuring process that included the entry of BNDESPAR and Banco Bradesco into its share capital. In the 2000s, it established a joint venture in the railway segment with Amsted Industries, AmstedMaxion, while at the same time intensifying its focus on auto parts, especially wheels and structural components for motor vehicles.

Iochpe-Maxion’s recent trajectory has been marked by internationalization and the consolidation of global scale. Between 2009 and 2012, the company carried out a series of strategic acquisitions in Brazil and abroad, including ArvinMeritor’s wheels business, with operations in the United States, Mexico, and Brazil; the wheel assets of the CIE Automotive group in Mexico; a stake in a manufacturer of axles, chassis, and stamped parts in Argentina (Montich S.A.); and, in 2012, the former Galaz group, a producer of side members for commercial vehicles in Mexico, and the Hayes Lemmerz group, an important global producer of automotive wheels. Between 2015 and 2019, the strategy focused on integrating these assets and consolidating its global position, including the acquisition of the remaining stake in its subsidiary Maxion Wheels (Thailand) and, in 2019, the formation of the associate DongFeng Maxion Wheels Ltd. in China, aimed at producing aluminum wheels. The company also maintained a minority stake in Amsted-Maxion after a series of divestments in the railway segment that began in 2015, and now holds 19.5% of that company’s capital, which is currently controlled by Amsted Rail Brasil.

Iochpe-Maxion’s business model is fully concentrated in the automotive segment, with global operations in wheels and automotive structural components. The company operates through two main platforms: Maxion Wheels and Maxion Structural Components. Maxion Wheels is present in several countries and produces a wide range of steel wheels for light vehicles, commercial vehicles, and agricultural machinery, as well as aluminum wheels for light vehicles, including recent initiatives in China and Turkey focused on cast and forged aluminum wheels. Maxion Structural Components, in turn, operates in the Americas manufacturing side members, crossmembers, assembled chassis, and structural stamped items for commercial and light vehicles. The company’s revenues are 100% derived from this automotive segment, reflecting a clear specialization in auto parts, with a focus on wheel systems and vehicle structures.

From an industrial standpoint, Iochpe-Maxion has a broad production base, with dozens of manufacturing units distributed across 14 countries in South America, North America, Europe, Asia, and Africa, employing thousands of workers. Its production processes are intensive in metal transformation and follow specific flows for each type of product. In structural components, production involves preparing steel sheets, forming in presses, assembling structures, and then applying anticorrosive treatment, painting, and finishing. In the manufacture of steel wheels, the process includes the separate production of the disc and rim, with deep drawing, stamping, rolling, welding, and machining stages, followed by surface treatment and painting. Aluminum wheels go through the melting of special alloys, injection into steel molds under pressure, X-ray inspection, heat treatment, machining, and final electrostatic painting stages, resulting in different finish types. The company follows preventive and corrective maintenance routines at its plants, with scheduled shutdowns, especially aligned with the collective vacation periods of automakers in Brazil.

Iochpe-Maxion’s competitive positioning in the global auto parts market is characterized by large-scale operations and significant market shares in specific niches. Based on its own market studies and those of specialized consulting firms, the company estimates that it holds a relevant share of global production of steel wheels for light and heavy vehicles, in addition to having a presence in the aluminum wheel market. In structural components, the company reports significant shares in the side member and chassis markets in South America and North America. This global presence is supported by a production and distribution platform that seeks to reduce dependence on specific vehicle platforms, mitigate risks related to raw material and demand volatility, and increase logistics efficiency. The company also highlights that its demand is directly tied to orders from automakers, with no ability to stimulate final consumption, which makes it sensitive to automotive industry cycles in different regions.

Iochpe-Maxion’s customer base is composed mainly of large global automakers of light and commercial vehicles. In 2025, two groups stood out with individually relevant shares in consolidated net operating revenue: Daimler Truck AG, accounting for a significant portion of revenue, and Ford, also with a substantial contribution. Sales concentration in large manufacturers is inherent to the automotive value chain structure, in which suppliers of wheel systems and structural components maintain supply contracts directly with automakers, delivering products to the assembly line. The company’s products are distributed predominantly by road transport from its own factories, without the use of dedicated distribution centers, and logistics rely both on contracted carriers and on pickup models such as the “milk run” system, in which the customer itself collects items at the industrial plants.

On the regulatory front, Iochpe-Maxion and its subsidiaries are not subject to a specific sectoral agency, but operate within the framework of industrial, labor, environmental, and safety regulations applicable in the jurisdictions where they operate. In Brazil, the company depends on environmental licenses for the construction, expansion, and operation of its plants, including authorizations related to the use of water resources, solid waste management, possible intervention in Permanent Preservation Areas, and regularization of Legal Reserves on rural properties. The company maintains effluent treatment stations at several units and obtains authorizations for handling controlled chemical substances from agencies such as the Federal Police, the Army, and state authorities. It is also subject to the emerging regulatory framework for greenhouse gas emissions in Brazil, with the future implementation of the Brazilian Emissions Trading System (SBCE), which is expected to require structured emissions monitoring and reporting. In other countries, the company monitors the evolution of local laws and regulations and makes adjustments when necessary.

Iochpe-Maxion’s sustainability and corporate governance agenda is formally structured and has been consolidated in specific reports. Since the cycle for the 2024 base year, the company has adopted the integrated reporting format to disclose environmental, social, and governance (ESG) information, prepared based on internationally recognized standards such as GRI and SASB, and taking into account TCFD recommendations for climate-related risks and opportunities. The report is subject to limited assurance by an independent auditor and incorporates a materiality matrix that considers double materiality, assessing both financial impacts and environmental and social impacts. Material topics include sustainable solutions, climate, nature, responsible value chain, people and social impact, as well as corporate governance. The company also states that it prepares greenhouse gas emissions inventories covering scopes 1, 2, and 3 and has adopted an initiative called Roadmap Zero, with emissions reduction targets aimed at achieving net zero emissions by 2040.

Iochpe-Maxion’s geographic footprint is reflected in the diversification of its revenues between Brazil and foreign markets. In 2025, most consolidated net revenue was generated abroad, particularly in Mexico, Turkey, the United States, and European countries such as Germany, Italy, the Czech Republic, and Spain, as well as India, China, Thailand, and South Africa. Brazil remains a relevant market within South America, accounting for an important share of total revenue. This geographic dispersion allows the company to operate across multiple regional cycles of the automotive industry, while at the same time exposing its results to the economic, currency, and regulatory conditions of various jurisdictions. Within this globalized context, Iochpe-Maxion, through its MYPK3 shares traded on B3, represents a Brazilian issuer with a multinational production base and a concentrated focus on the global automotive value chain.