UCAS3

Unicasa Indústria de Móveis S.A., known in the market as Unicasa Móveis and listed on B3 under the ticker UCAS3, is a Brazilian company specialized in the production, development, and commercialization of custom-built (planned) furniture. Originally incorporated in 1985 as Premier Móveis Ltda. in Bento Gonçalves (RS), the company’s origins are linked to industrial groups such as Grendene S.A., Telasul Artefatos de Arame Ltda., and Pozza S.A. Indústria e Comércio. Throughout the 1980s and 1990s, it underwent corporate restructurings and corporate name changes, consolidating the Dell Anno brand and later adopting the name Unicasa Indústria de Móveis S.A. The IPO took place in 2012, in what was then the Novo Mercado segment of BM&FBovespa, marking the company’s transition to a publicly held corporation with shares traded in the Brazilian capital markets.

Unicasa Móveis operates in a single operating segment focused on the planned furniture chain. Its main activity is the production, development, and sale of made-to-measure furniture in MDF (Medium Density Fiberboard) and MDP (Medium Density Particleboard), complemented by functional accessories and decorative items associated with these products. The company offers solutions for various residential and commercial environments, such as kitchens, bedrooms, closets, home theaters, laundry rooms, bathrooms, and offices. Results are managed and evaluated in an integrated manner, without product-line management as independent segments, so that all of the company’s net revenue essentially comes from this planned furniture business.

The business model combines a centralized industrial plant with a distribution network made up of exclusive and multi-brand stores, in addition to operations focused on corporate projects and exports. Unicasa Móveis operates through a portfolio of brands positioned in different customer brackets and consumption profiles. Dell Anno, created in 1985, has become the company’s premium brand, strongly associated with design, fashion, and architecture, with a presence in exclusive dealers in Brazil and abroad and an increasing focus on specifier relations and digital communication. The New brand, launched in 2008, targets a younger and middle-class audience, aiming to combine design and functionality with a more affordable budget, and is distributed through exclusive and multi-brand stores. Casa Brasileira, launched in 2013, seeks to translate aesthetic references from Brazilian culture into patterns and finishes, with a more accessible positioning and a focus on adapting to different tastes and regions of the country.

In addition to its retail presence in planned furniture through consumer brands, the company maintains the Unicasa Corporate division, dedicated to serving developers, construction companies, and companies in the hotel, hospital, and broader construction sectors. This business line aims to integrate the supply of planned furniture into large-scale real estate and corporate projects, capturing demand from residential, commercial, and hospitality developments. The company’s customer base is diversified, with no material concentration of revenue in any single client, which reduces dependence on large contracts and spreads commercial risk across the network of dealers and business partners.

Unicasa Móveis’ production structure is concentrated in an industrial plant located in Bento Gonçalves, Rio Grande do Sul, with roughly 50,000 m² of built area and an average production capacity of approximately 70,000 equivalent production units (EPUs) per month. Each EPU corresponds, on average, to seven composable furniture pieces, such as side panels, bases, shelves, tops, and hardware. The process is heavily supported by automation and integrated manufacturing systems, with cutting, finishing, drilling, and packaging centers. This setup allows the company to operate on a made-to-order basis, producing modules after confirmation of the orders generated by store projects and delivering within set lead times, which helps keep finished-goods inventories low.

The operating flow begins at the points of sale, where architects and technicians use dedicated design software to develop customized environments. Orders are then processed and forwarded to the internal sales, production control, and logistics areas, which generate production plans, determine input requirements, and coordinate the manufacturing sequence. The company uses barcode optical reading systems throughout the production and shipping stages, with real-time tracking of parts and modules. Around 97% of the portfolio, excluding resale items, is produced in-house, showing a high degree of industrial verticalization. The company also invests in specific technologies, such as lacca painting lines derived from the automotive industry, which broaden the range of finishes and colors available for painted furniture.

Geographically, Unicasa Móveis keeps its industrial base in Rio Grande do Sul and serves the Brazilian market through exclusive and multi-brand dealers throughout the country, as well as partnerships with the construction and hotel sectors. Over time, the company has developed an internationalization strategy, with exports to several countries and the opening of Dell Anno stores in North America. Domestic gross revenue still accounts for most of the company’s activity, but the share of foreign markets has been growing, reaching around one-fifth of gross revenue in 2024. The company has set up a representation structure in North America and opened its own stores in cities such as Miami and New York, strengthening Dell Anno’s presence in key design and furniture hubs.

Unicasa Móveis’ industrial operations are subject to a set of regulatory requirements, especially in the environmental area, due to the use of MDF and MDP boards and processes that generate solid waste, effluents, and air emissions. The Bento Gonçalves plant is subject to environmental licensing, including preliminary, installation, and operating licenses, as well as registration in systems such as Ibama’s Technical Registry of Potentially Polluting Activities and the Rio Grande do Sul State Forestry Registry. The company states that it keeps environmental licenses valid and complies with periodic reporting obligations on waste generation and disposal, and that it operates effluent treatment stations with partial reuse of treated water for internal uses such as toilet flushing and fire reservoirs. It also adopts exhaust and particle filtration systems to control wood dust emissions, with bag filter structures and units for transporting and storing the collected material.

In terms of environmental, social, and governance practices, Unicasa Móveis reports that it adopts principles such as proper waste management aligned with ABNT standard NBR 10004, and applies concepts such as the 5Rs (reduce, reuse, recycle, rethink, and refuse) to mitigate environmental impacts along the production chain. The company also maintains a quality management system based on pillars such as supplier management, workplace organization through the 5S program, plant inspections, and structured treatment of nonconformities, using methodologies such as MASP. Although it does not yet publish its own sustainability report or a formal ESG materiality matrix, management indicates that it is in the process of developing a sustainability report slated for disclosure from 2027 onward, in line with international reporting standards. With this, Unicasa Móveis seeks to consolidate its position as a planned furniture manufacturer with significant industrial operations, nationwide presence, and gradual international expansion, keeping its UCAS3 shares traded on B3 as the vehicle for access to its capital.