WLMM3: quote, dividends and indicators for WLM Participações e Comércio de Máquinas e Veículos

WLM Participações e Comércio de Máquinas e Veículos S.A. is a publicly held corporation, with WLMM3 and WLMM4 shares traded on B3, headquartered in Rio de Janeiro. Founded in 1946, it began its activities distributing liquefied petroleum gas (LPG) through Supergasbras Distribuidora de Gás S.A., a business that shaped its trajectory for several decades. From the 1970s onwards, the company went through a diversification process, entering the transportation and heavy vehicle sales sectors, especially trucks and buses of the Scania brand, initiating a long-term relationship with the automaker. In 2004, WLM sold its LPG operation and focused on the automotive segment and agricultural activities, undergoing corporate restructurings and name changes until adopting its current name in 2017. In 2019, with the merger of its former dealership subsidiaries, the company simplified its corporate structure and began operating directly as an operating holding company in the automotive and agricultural businesses.

WLM Participações e Comércio de Máquinas e Veículos’ business model is based on a diversified structure, with its main operations in the automotive segment, complemented by the agricultural, vehicle rental, energy, and parts and services segments focused on fleet sustainability. The company organizes its operations through branches and subsidiaries distributed across different Brazilian states, with revenue concentrated in the domestic market. Most of its net operating revenue comes from the sale of vehicles and services linked to the Scania brand, while the agricultural, rental, and energy activities contribute a smaller share, although recently expanding, especially since the creation of WLM Energia and initiatives in distributed generation solutions.

In the automotive segment, WLM’s economic core, the company operates as a network of Scania dealerships, selling heavy and extra-heavy trucks, urban and highway bus chassis, stationary and marine engines, as well as replacement parts, lubricants, and specialized maintenance and technical assistance services. The operation is structured in regional units under the brands WLM Equipo (Rio de Janeiro), WLM Quinta Roda (São Paulo), WLM Itaipu (Minas Gerais), WLM Itaipu Norte (Pará and Amapá) and Supermac Máquinas e Caminhões da Amazônia (Amazonas and Roraima), distributed across dozens of locations and service points. Vehicle sales involve direct commercial relationships with customers, definition of technical specifications, and integration with Scania’s production process, while after-sales and parts sales are supported by planned inventories and dedicated teams. The company also develops preventive and corrective maintenance contracts, reinforcing recurring service revenues and close relationships with fleet operators.

Sector diversification includes the agricultural segment, in which WLM, through its subsidiaries Fartura Agropecuária S.A. and Itapura Agropecuária Ltda., engages in the production, breeding, and sale of beef cattle, as well as growing grains such as soybeans and producing coffee. The farms are located in municipalities in the states of Pará, Mato Grosso, São Paulo, and Minas Gerais, with areas simultaneously allocated to livestock, agriculture, and forest reserves. On properties located in the so-called Legal Amazon, livestock production is predominantly pasture-based, with mineral supplementation and management focused on breeding, rearing, and fattening, including an emphasis on genetic improvement of the herd. In Minas Gerais and São Paulo, livestock activity is complemented by the production of high-tech arabica coffee, with emphasis on soil management, pest control, and mechanized harvesting, and by an agricultural partnership for large-scale soybean and corn planting in specific areas, through an agreement with a specialized company.

WLM expanded its activities with the motor vehicle and equipment rental segment, developed mainly by its subsidiary Equipo Locação de Máquinas e Veículos Ltda., headquartered in Rio de Janeiro and present in other states. In this business, the company offers operating leases, without drivers, of Scania trucks, power generators, machinery, and equipment for the services, industrial, retail, and agricultural sectors. The rental operation combines physical channels, such as branches and yards, with digital channels for inquiries, quotes, and reservations, seeking to ensure fleet availability and logistical efficiency. Expansion into this segment adds a stream of recurring revenue based on the use of long-term assets, complementing the traditional model of new vehicle sales and workshop services.

Another relevant diversification front is the energy segment, consolidated as of 2025 with the establishment of WLM Energia e Participações Ltda. and the acquisition of a stake in CHP Brasil Indústria e Comércio de Geradores S.A., both headquartered in Rio de Janeiro. Their joint activities cover the development, manufacturing, integration, sale, and technical support of distributed power generation solutions using gas, focusing on cogeneration (Combined Heat & Power – CHP), continuous generation, emergency generation, and the use of biogas and natural gas. The projects involve applied engineering, electromechanical assembly, and customization of medium-sized generator sets, which can operate individually or together to meet higher demand. This line of business also includes solutions for energy recovery from organic waste originating from landfills, wastewater treatment plants, and agro-industrial waste, bringing the energy segment closer to the agenda of energy efficiency and reduced environmental impacts.

In the field of automotive parts and fleet management, WLM began operating through Ekotruck Sustentabilidade em Frotas Ltda., created in 2025, headquartered in Sumaré (SP) with branches in different states. This subsidiary operates in the retail and wholesale trade of new and used automotive parts and accessories, including component reconditioning, focusing on heavy vehicles and truck fleets. In addition to commercial activity, Ekotruck provides consulting services in fleet management and maintenance, emphasizing sustainable practices such as reverse logistics, parts reuse, and operational efficiency initiatives. The company can also develop environmental management consulting services for the transportation sector, creating synergies with WLM’s core automotive segment and its corporate sustainability strategy.

WLM Participações e Comércio de Máquinas e Veículos’ operations are concentrated within Brazilian territory, with no material revenues from other countries, and are distributed across multiple states, with particularly strong presence in the Southeast, North, and Midwest regions. Its customer base is diversified, with no single buyer accounting for more than 10% of net revenue, which reduces dependence on large specific contracts. The relationship with Scania, structured as a commercial dealership arrangement governed by specific legislation and brand conventions, is central to the automotive business, although it does not involve dependence on proprietary patents or royalties. In the agricultural segment, the company maintains strict monitoring of land and environmental compliance, with registrations, licenses, and authorizations granted by agencies that are part of the National Environmental System, including rural registries, environmental licenses, and specific management authorizations, which guide the use of land and reserves.

In environmental, social, and governance terms, WLM is subject to Brazilian legislation at all levels and states it operates in compliance with obligations applicable to its different segments. The automotive dealership network operates under Scania’s global D.O.S. (Dealer Operating Standard) certification, which covers commitments related to quality, environment, health, and safety, including practices such as waste sorting, wastewater treatment, and the use of solar energy in part of its facilities. In its agricultural operations, there is maintenance of significant forest reserve areas, as well as specific environmental registrations and licenses. In governance and social responsibility, the company states alignment with international references on human rights and labor practices and maintains a compliance program with policies to prevent money laundering, anti-corruption measures, and procedures for internal investigations. WLM is in the process of implementing a formal ESG program, with plans to adopt international reporting standards, a double materiality matrix, and a greenhouse gas emissions inventory, which is expected to systematize the disclosure of sustainability indicators in the future.