Context: How B3 (Brasil, Bolsa, Balcao) works, and what it makes issuers disclose · Brazil on the LatAm Power Map
A family-built company from the São Paulo interior that has spent five decades persuading Brazil’s farmers to swap some of their chemical fertilisers for living organisms — and listed on the stock exchange just as that bet began to look like the future of agriculture.
| Full name | Vittia S.A. |
|---|---|
| Ticker / exchange | VITT3 — B3 (São Paulo) |
| Headquarters | São Joaquim da Barra, São Paulo, Brazil |
| Sector | Basic Materials — Agricultural Inputs |
| Employees | 1,110 |
| Market value (market cap) | R$507 (US$99)M (~$98.7M) |
| Yearly sales (revenue, TTM) | R$804 (US$156)M (~$156.4M) |
| Net profit (FY2025) | R$66.5 (US$13)M (~$12.9M) |
| Net profit margin (TTM) | 7.7% |
| Return on equity (ROE) | 9.8% |
| Price-to-earnings (P/E) | 8.7× |
| Dividend yield | 8.0% |
| Website | vittia.com.br | ri.vittia.com.br |
What it is
Vittia was founded in 1971 as Indústria Biosoja de Inoculantes — a maker of biological seed treatments for soybean growers — and has grown into one of Brazil’s leading producers of speciality plant nutrition and biological crop-protection products.
Its range spans biological, organomineral, foliar and concentrated-suspension fertilisers, as well as biological pesticides covering microbiological and macrobiological control, inoculants, soil conditioners, and granulated micronutrients for agriculture and livestock. The company sells into more than 25 crops, from soybean and corn to coffee, sugarcane and citrus.
Vittia operates eight industrial units across São Paulo and Minas Gerais states, and six distribution centres spread from Bahia to Rio Grande do Sul.
Who owns it
The Romanini family controls Vittia, which listed on the B3 exchange in 2021 via an IPO. The family holds more than 60% of the company — consistent with the structured data showing insiders at 66.9% — leaving roughly a third freely traded.
The company was formerly known as Vittia Fertilizantes e Biológicos S.A. and changed its name to Vittia S.A. in May 2023. Institutional investors hold about 33% of the shares, according to EODHD data.
Who runs it
Wilson Romanini is CEO of Vittia — a family-member economist who took over the business his father Plinio Romanini founded and has run it as a publicly traded company since the 2021 IPO. He is 54 years old and occupies the chair of CEO, one of the largest producers of biological crop-protection and speciality fertilisers in Brazil.
Alexandre Frizzo is CFO and Investor Relations Director. Francisco Guilherme Romanini also sits on the board as a member of the supervisory council.
The money, in plain words
In the fiscal year ended December 2025, Vittia took in R$820 (US$159)M (~$159.5M) in sales — a rise of 4.2% on 2024 (our calculation) — but the profit it kept shrank: net income was R$66.5 (US$13)M (~$12.9M), giving a net profit margin of 7.7%, meaning it keeps about 8 cents from every real of revenue.
For every real that shareholders have put in, Vittia earns back about 10 cents a year — a return on equity of 9.8%, respectable but well below the 12–13% it posted before 2023. The main difficulty has been the inability to pass rising input costs on to farmers.
The balance sheet is conservative. With owner equity of R$644.6 (US$125)M (~$125.4M) and total liabilities of R$285.6 (US$56)M, the company is funded predominantly by its own capital.
Net debt — borrowings minus cash — ended 2025 at R$125.6 (US$24)M, at a leverage ratio of 1.09 times annual operating cash flow, which is very manageable. Cash on hand stood at R$48 (US$9)M (~$9.3M), per EODHD balance data.
At a price-to-earnings ratio of 8.7×, the market is paying less than nine years’ worth of current profits to own the whole business — cheap by historical standards, though the low multiple reflects genuine margin pressure. The dividend yield of 8.0% is high; Vittia returns substantial cash to shareholders even through the downturn.
What it is doing now
Full-year 2025 revenue reached R$820 (US$159)M, growing 4.2% versus 2024, with soil fertilisers as the main engine of expansion, up 43.2% to R$263.6 (US$51)M. The annual operating cash flow measure (EBITDA) fell 13.6%, while adjusted net profit dropped 20%, as selling-price deflation outpaced any cost savings.
During 2025 Vittia launched three new biological products — a fungicide and two bio-insecticides — and directed R$47.2 (US$9)M toward share buy-backs and returns to shareholders. The buy-back signals management’s conviction that the stock is undervalued relative to the company’s long-term worth.
What to watch
- Margin recovery. Gross margin has compressed every year since 2023; whether Vittia can restore pricing power in biologicals as weaker competitors exit the market is the central question for profitability.
- Biological products growth. Biologicals grew from a small part of the business into its largest profit contributor; the pace of adoption among Brazilian farmers will determine the company’s growth ceiling.
- Family concentration. With the Romanini family holding roughly two-thirds of the shares, strategic decisions rest with one family; minority shareholders follow rather than lead.
- Currency and commodity cycles. A strong Brazilian real squeezes farmer margins and therefore their willingness to pay for premium inputs; the reverse helps. Watch the BRL/USD rate and soybean prices as lead indicators for Vittia’s order book.
Sources
- Vittia Investor Relations — Board & Management
- Vittia — Who We Are (corporate site)
- The AgriBiz — “Quem é quem na Vittia”
- The AgriBiz — Wilson Romanini profile
- AgroRevenda — Vittia full-year 2024 results
- InfoMoney — Vittia full-year 2025 results
- ADVFN — Vittia Q3 2025 results
- AgroPlanning — Vittia 50th anniversary / founding history
- Market data: EODHD.
This is news, not investment advice.
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