Motiva S.A. – Results for the 2st quarter of 2026
Business
SÃO PAULO, July 29, 2026 /PRNewswire/ — Highlights
- On April 2, 2026, the Share Purchase Agreement for Minas_SP (Fernão Dias) was signed, and operations began accordingly.
- On May 8, 2026, the 26th Amendment to the Renovias concession agreement was signed, recognizing a balance of R$75 million (base date jul/25), in favor of the Company.
- On May 11, 2026, the Modernization Amendment for Minas_SP was signed, extending the concession term by 15 years, in addition to applying the tariff step-up and the discount offered in the auction.
- On June 30, 2026, an Amendment to the Renovias concession agreement was signed, resulting in the extension of the concession term until October 31, 2026.
- Adjusted EBITDA increased by 30.1% in the period, with emphasis on the R$ 370 million contribution from Minas_SP, Paraná, Pantanal and Sorocabana in 2Q26.
- Excluding the Airports Platform, Cash OPEX/LTM Adjusted Net Revenue reached 34.1% in 2Q26, down 3.7 p.p. compared to 2Q25.
Consolidated Operational and Financial Highlights
|
OPERATIONAL AND FINANCIAL HIGHLIGHTS |
2Q25 |
2Q26 |
Var.% |
1H25 |
1H26 |
Var.% |
|
Adjusted Net Revenue¹ |
3,006 |
3,631 |
20.8 % |
6,152 |
6,958 |
13.1 % |
|
Adjusted EBITDA¹ |
1,822 |
2,370 |
30.1 % |
3,872 |
4,607 |
19.0 % |
|
Adjusted EBITDA – Toll Roads |
1,540 |
1,995 |
29.5 % |
3,234 |
3,930 |
21.5 % |
|
Adjusted EBITDA – Rails |
582 |
696 |
19.6 % |
1,158 |
1,284 |
10.9 % |
|
Adjusted EBITDA – Others |
(300) |
(321) |
7.0 % |
(520) |
(607) |
16.7 % |
|
Adjusted EBITDA Margin² |
60.6 % |
65.3 % |
4.7 p.p. |
62.9 % |
66.2 % |
3.3 p.p. |
|
Adjusted Net Income¹ |
397 |
663 |
67.0 % |
937 |
1.290 |
37.7 % |
|
ROE3 LTM |
13.9 % |
21.6 % |
7.7 p.p. |
13.9 % |
21.6 % |
7.7 p.p. |
|
ROIC3 LTM |
9.5 % |
9.0 % |
-0.5 p.p. |
9.5 % |
9.0 % |
-0.5 p.p. |
|
Net Debt/LTM Adjusted EBITDA |
3,6x |
3,7x |
0.1x |
3,6x |
3,7x |
0.1x |
|
Toll Roads – Equivalents Vehicle (million) |
252.8 |
363.0 |
43.6 % |
556.9 |
676.8 |
21.5 % |
|
Rails – Transported Passengers (million) |
188.9 |
192.3 |
1.8 % |
369.7 |
377.3 |
2.0 % |
|
Capex4 |
1,617 |
1,831 |
13.2 % |
2,832 |
3,304 |
16.7 % |
1.Excludes construction revenue and costs. Adjustments are described in the “non-recurring effects” section in Exhibit I I (page 25).
2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
3. ROE = Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate) /Invested Capital (Equity + Gross Debt).
4. Includes improvement works that do not generate future economic benefits for ViaOeste.
Videoconference
Conference call in Portuguese with simultaneous translation into English:
July 30th, 2026
10:00 a.m. São Paulo / 9:00 a.m. New York
Videoconference link:
https://motiva-br.zoom.us/webinar/register/WN_j5HTwJ6uR7WgY_x99AWNtQ#/
IR Contacts
Flávia Godoy: (+55 11) 3048-5900 – flavia.godoy@motiva.com.br
Douglas Ribeiro: (+55 11) 3048-5900 – douglas.ribeiro@motiva.com.br
Cauê Cunha: (+55 11) 3048-5900 – caue.cunha@motiva.com.br
Caique Moraes: (+55 11) 3048-5900 – caique.moraes@motiva.com.br
Ana Beatriz Bovo:(+55 11) 3048-5900 – ana.bovo@motiva.com.br
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SOURCE Motiva S.A.
Distributed by PR Newswire / Cision.
