Import & market electric appliances.
Brimag finished 2025 with a real improvement in margins and operating quality, but the next test has shifted from selling products to managing inventory, cash conversion, and execution of the developer-linked property model.
Brimag looks more diversified than it really is: most of its economic power sits with four brands, two large customers, and one related-party channel through Traklin.
Brimag's apartment-linked channel is already material to capital allocation, but it has not yet proved that it is a mature sales engine. At this stage it is a model of capital, timing, and execution, not of fast revenue realization.
Brimag's 2025 story shifted from margins to cash conversion: inventory became heavier, receivables quality softened at the margin, and cash stayed almost flat mainly because the company leaned on short-term debt and a dividend from an associate.
