Helbor Empreendimentos (HBOR3) reported Total Gross Sales of R$ 338.5 million in the second quarter of 2026 (2Q26), down 27.5% compared to 2Q25 and 19.4% versus 1Q26, a movement explained by the company mainly by the absence of launches in the quarter. In the first half of 2026, Total Gross Sales reached R$ 758.5 million, a decline of 30.1% compared to the first half of 2025.
Helbor’s share of total gross sales in 2Q26 was 62.5%, with R$ 143.3 million recognized in consolidated results and R$ 68.3 million via equity income. For the half year, the share attributable to Helbor was 57.7%, with R$ 282.0 million recorded in consolidated results and R$ 155.7 million via equity income.
In the quarter, 69.6% of sales corresponded to units under construction, 18.4% to completed units and 12.0% to units launched in 1Q26. Year to date, the breakdown was 61.5% units under construction, 21.7% completed units and 16.8% launches. The Total Sales Speed (VSO, the ratio between sales and supply) was 11.3% in 2Q26, a drop of 7.0 percentage points compared to 2Q25 and 1.2 percentage points versus 1Q26; the VSO for Helbor’s share was also 11.3%, down 6.7 percentage points year over year and up 0.4 percentage point compared to the previous quarter.
During 2Q26, Helbor carried out no launches. In the first half of 2026, two projects were launched: Nova Vivere, in São Paulo, in partnership with Tegra and with an 18.3% stake held by Helbor, and Parque Clube Ipoema, in Mogi das Cruzes, 100% Helbor, totaling net total PSV (Potential Sales Value) of R$ 469.7 million, of which 33% corresponds to the company. In the first half of 2025, four projects had been launched, with net total PSV of R$ 703.4 million, 51% of which was Helbor’s share.
Contract cancellations totaled R$ 66.0 million (100 units) in 2Q26, a reduction of 49% versus 2Q25, with 72.3% relating to Helbor’s stake; all units were resold in the same quarter, with an average gain of 9% over the original value. In the half year, cancellations reached R$ 188.6 million, equivalent to 224 units, also fully resold, a 31% drop compared to 1H25. The company also reported that its landbank at the end of 2Q26 totaled a potential gross PSV of R$ 11.6 billion, of which 74% corresponds to Helbor, and that transfers to buyers reached R$ 204.8 million in the quarter, a decrease of 51.7% compared to 2Q25 and 26.0% versus 1Q26, influenced by the absence of deliveries in the period.
