PTBL3: quote, dividends and indicators for Portobello

Portobello, parent company of Portobello Grupo and issuer of PTBL3 shares traded on B3, is a corporation founded in 1977 in the city of Tijucas, in the state of Santa Catarina. The company went public in 1991, then on BOVESPA, and since 2008 has been listed on B3’s Novo Mercado segment, aimed at companies that adopt advanced corporate governance practices. Its largest industrial park is located in Tijucas, with approximately 185 thousand m² of built area, which over the decades has concentrated a large part of the brand’s technological evolution and portfolio development. Historical milestones include the start of exports in 1981, the creation of the “Carga Pesada” high-traffic line in 1984, the expansion of production capacity to 1 million m² per month in 1987, and the launch of façade coverings in 1991, the same year the company went public. From the 1990s onward, Portobello expanded its activities through outsourcing strategies, the introduction of Italian porcelain tiles in Brazil, the implementation of a wastewater treatment plant, and, in 1998, the creation of the Portobello Shop franchise network, which would become one of the group’s pillars.

Portobello’s business model is structured around the manufacturing and marketing of ceramic tiles and porcelain tiles, including technical and glazed flooring, decorated pieces, mosaics, coverings for indoor walls and outdoor façades, as well as ceramic furniture and complementary products. PTBL3 shares reflect the position of a company that operates across the entire value chain: raw material extraction, design and technology development, large-scale industrial manufacturing, logistics, multibrand distribution channels, its own and franchised networks of specialist stores, and exports. Activities are organized into operating segments focused on the domestic and international markets, with management supported by business units: Ceramica Portobello, Portobello Shop, Pointer and Portobello America. This model, consolidated following an organizational restructuring that began at the end of 2020, replaced a centralized structure and started to grant greater autonomy to each unit, with directors responsible for operational performance and for generating revenue and gross margin.

Ceramica Portobello concentrates the industrial and technological development complex in Tijucas, with six plants dedicated, among other things, to the production of large formats and slabs. This unit offers porcelain tiles, façade coverings, monoporosa and accessories, through diversified channels that include resellers, construction companies, home centers and exports. In 2025, Ceramica Portobello products reached more than 70 countries, with growth in regions such as Central America, Europe and the Middle East, supported by a higher value-added portfolio, a focus on large formats and logistical efficiency. The projects and major works channel requires specific technical solutions, specialized services and large-scale supply capacity, supported by digital tools such as the Play Obras platform and regional export hubs. The unit also internalized relevant regulatory processes, such as the phytosanitary treatment of wooden packaging in accordance with international standards and ordinances from the Ministry of Agriculture, which reinforces compliance in exports. In 2025, production at the Tijucas complex reached around 27 million m² of finished products, reflecting efficiency gains and intensive use of modern technologies such as digital inkjet printers, automated lines and electronic classification solutions.

Portobello Shop is the group’s specialist retail arm, with 30 own stores and 131 franchises in 2025, in addition to approximately 150 thousand m² of sales area. The chain sells ceramic tiles, porcelain tiles, slabs, mosaics, mortars, grouts, installation systems, sanitary ware, faucets and Officina Portobello solutions, which operates as a porcelainware brand focused on countertops and porcelain furniture. This structure is supported by national distribution centers and by an integrated retail model that connects industry, logistics and point of sale, allowing the company to operate synergistically between production and end consumption. Portobello Shop has strong interaction with architecture and design professionals through initiatives such as the Portobello + Arquitetura Community, the Coletivo Criativo project and digital platforms like Archtrends, which offer technical and inspirational content and design tools. From an environmental standpoint, some stores incorporate solutions such as rainwater harvesting, selective waste collection and the use of photovoltaic panels, and the Jardim Social unit in Curitiba obtained LEED Platinum certification, demonstrating a construction standard aligned with energy efficiency and environmental criteria.

Pointer, located in Marechal Deodoro, in the state of Alagoas, is the brand focused on accessible design, with a competitive focus mainly on the North and Northeast regions. The industrial unit uses a dry process, which eliminates the use of water in the mass grinding stage, reducing water consumption and the associated environmental impact. The plant incorporates other technologies aimed at energy efficiency and emission reduction, supporting the group’s strategy of expanding production capacity with attention to sustainability. Together, the industrial hubs of Tijucas and Marechal Deodoro have an approximate capacity of 44 million m² per year, distributing production across different price ranges, applications and target audiences. As part of its internationalization strategy, in 2023 the company added a manufacturing unit in Baxter, Tennessee, in the United States, under the Portobello America unit, with around 96 thousand m² of built area and capacity of approximately 4.1 million m² per year, focused on large formats and special pieces, with expansion potential.

Portobello’s international operations combine exports to more than 70 countries with local production in the United States. In 2025, approximately 74.1% of consolidated net revenue was attributable to customers in Brazil, with the remainder coming from abroad. In markets such as Argentina, the company is exposed to import control rules, changes in external purchase monitoring systems and reviews of antidumping duties on porcelain tiles. In 2024, a 0% antidumping duty rate was established for the company in that country, eliminating a specific additional burden on its exports to the Argentine market. At the same time, Portobello monitors local regulatory developments to maintain operational authorization and comply with customs and trade requirements. In the United States, the company is subject to trade policy and potential import tariffs on ceramic products, a scenario in which having an industrial plant in the country mitigates tariff risks and increases commercial flexibility. For Canada, Portobello America observes the rules of the CUSMA agreement, including certificate of origin requirements to obtain tariff benefits, reinforcing the integration of the US unit into North American supply chains.

From a domestic regulatory standpoint, Portobello operates under Brazilian corporate law and CVM and B3 rules, as well as a set of permits related to its industrial and mining activities. Operations depend on environmental and natural resource use licenses granted by agencies such as the Santa Catarina Environmental Institute, the Santa Catarina Secretariat for Sustainable Economic Development, IBAMA and the Ministry of Agriculture, among others. In the mining segment, the company is subject to regulation by the National Mining Agency, which issues titles and mining ordinances for raw material extraction. The company adopts environmental and quality management systems, including ISO 9001:2015 certification, and monitors effluents, air emissions, solid waste and energy efficiency. In 2021, it structured an ESG plan for the 2022–2026 period, updated in 2024 with targets through 2030, aligned with sustainable development goals and organized into three pillars: eco-efficiency, people development and governance.

In its environmental practices, Portobello highlights the predominant use of natural gas in its thermal processes, with heat recovery from kilns, implementation of modulating air-gas systems and replacement of lamps with LEDs, aiming for greater energy efficiency and emissions reduction. Waste management targets an almost zero level of solid process waste disposal, with a 99.90% recovery rate, by reintegrating ceramic shards, “polishing cake,” particulate materials collected in bag filters and refractory waste into ceramic body formulations. These materials replace natural raw materials and reduce pressure on deposits. The company took part in drafting specific regulations in Santa Catarina that enabled the industrial use of certain ceramic waste, such as CONSEMA Resolution 15, which went on to benefit the entire sector. On average, the company’s products incorporate around 20% recycled content. In terms of the broader ESG agenda, Portobello strengthened its positioning by entering the Corporate Sustainability Index (ISE B3) in 2025 and remaining in the portfolio in 2026, which reinforces how PTBL3 shares are aligned with sustainability, governance and transparency criteria assessed by B3 itself.