UCAS3 Unicasa Móveis

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-made furniture. Originally incorporated in 1985 as Premier Móveis Ltda. in Bento Gonçalves (RS), the company was created in connection with 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 went through corporate restructurings and trade name changes, consolidating the Dell Anno brand and later adopting the corporate name Unicasa Indústria de Móveis S.A. The IPO took place in 2012 in the then Novo Mercado segment of BM&FBovespa, marking the company’s transition to a publicly traded corporation with shares listed on the Brazilian capital market.

Unicasa Móveis operates in a single business segment focused on the custom 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 several residential and commercial environments, such as kitchens, bedrooms, closets, home theaters, laundry rooms, bathrooms, and offices. Results are managed and evaluated on an integrated basis, without management by product lines as independent segments, so that all of the company’s net revenue essentially derives from this custom 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 across different consumer profiles and spending patterns. 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 a growing focus on relationships with specifiers and digital communication. The New brand, launched in 2008, targets a younger, middle-class audience, seeking to combine design and functionality with a more affordable budget, and is distributed through exclusive and multi-brand stores. Casa Brasileira, launched in 2013, aims 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 activity in custom furniture through consumer brands, the company maintains the Unicasa Corporate division, dedicated to serving developers, construction companies, and firms in the hotel, healthcare, and broader construction industries. This business front seeks to integrate the supply of custom furniture into large-scale real estate and corporate projects, capturing demand from residential, commercial, and hospitality developments. The company’s client base is diversified, with no material revenue concentration in any individual customer, which reduces dependence on large contracts and spreads commercial risk across the dealer network and business partners.

Unicasa Móveis’ production structure is concentrated in an industrial plant located in Bento Gonçalves, Rio Grande do Sul, with around 50,000 m² of built area and average production capacity of approximately 70,000 equivalent production units (EPUs) per month. Each EPU corresponds, on average, to seven modular furniture pieces, such as sides, 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 under a make-to-order regime, manufacturing modules after the confirmation of orders generated by store projects and delivering within set lead times, which helps to maintain low levels of finished goods inventory.

The operational flow begins at the points of sale, where architects and technicians use specific 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 factory sequencing. The company uses optical barcode reading systems throughout production and shipping stages, with real-time tracking of parts and modules. Around 97% of the portfolio, excluding resale items, is produced in-house, evidencing a high degree of industrial verticalization. The company also invests in specific technologies, such as lacca painting lines derived from the automotive industry, which expand the range of finishes and colors available for painted furniture.

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

Unicasa Móveis’ industrial operation is subject to a set of regulatory requirements, especially in the environmental area, given the use of MDF and MDP boards and of processes that generate solid waste, effluents, and atmospheric emissions. The Bento Gonçalves facility is subject to environmental licensing, including preliminary, installation, and operating licenses, as well as registration in systems such as Ibama’s Technical Register of Potentially Polluting Activities and the Rio Grande do Sul State Forestry Register. The company states that it keeps its environmental licenses valid and complies with periodic reporting obligations on waste generation and disposal, and that it operates effluent treatment plants with partial reuse of treated water for internal uses such as toilet flushing and fire reserve. 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 states that it follows principles such as proper waste management, in line with ABNT standard NBR 10004, and the application of concepts such as the 5Rs (reduction, reuse, recycling, rethinking, and refusing) to reduce environmental impacts along the production chain. The company also maintains a quality management system based on pillars such as supplier management, workplace organization via the 5S program, factory inspections, and structured handling 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 it is in the process of developing a sustainability report expected to be released as of 2027, in line with international reporting standards. With this, Unicasa Móveis seeks to consolidate its position as a custom furniture manufacturer with a relevant industrial footprint, national presence, and gradual international expansion, keeping its UCAS3 shares traded on B3 as the vehicle for access to its capital.