In the preliminary results for the second quarter of 2026 (2Q26), released on Monday, July 27, 2026, Simpar (SIMH3) reported record net service revenue of R$ 9.4 bn, equivalent to R$ 9.390 bn, up 13.2% compared to 2Q25. The company attributes the performance to organic value creation and the maturation of contracts added over the last 12 months, focusing on new contracts with what it considers appropriate pricing and on restoring balance in existing contracts.
On a consolidated basis, gross revenue totaled R$ 12.389 bn in 2Q26, an increase of 9.5% year on year, while net revenue reached R$ 11.249 bn, up 8.8% versus 2Q25. Net revenue from asset sales was R$ 1.769 bn, down 12.8% year on year, and net revenue from infrastructure construction came to R$ 89 mn, a 484.9% increase over the same period in 2025.
The Net Debt/EBITDA (earnings before interest, taxes, depreciation and amortization) ratio for the last 12 months stood at 2.8x for the Simpar group, a reduction of 0.8x in 12 months and the lowest level since the IPO in 2010. The company cites as factors behind the decline in leverage advances in operational efficiency, lower investment needs, the sale of Ciclus Rio, capital increases at Simpar, Movida and Vamos, and the deconsolidation of Ciclus Amazônia and CS Porto Aratu following monetization processes.
In the period, the last-12-month EBITDA to net capex ratio (investments in assets minus asset sales) was 1.9x, an improvement of 0.5x compared to the same interval in 2025, matching the level at the end of 2025. The private capital increases at Simpar, Movida and Vamos, backed by JSP Holding and BNDESPAR, totaled R$ 3.0 bn, considering R$ 88.7 mn from BNDESPAR’s exercise of the JSL share purchase option granted by Simpar.
Simpar also highlighted the announcement of the monetization of 100% of CS Porto Aratu for R$ 1.8 bn in enterprise value, with a multiple on invested capital (MOIC) of 5.8x over an average term of 3.6 years, following the monetization of Ciclus Rio and Ciclus Amazônia. Simpar Holding’s net debt fell 54% in 12 months to R$ 1.4 bn in 2Q26, from R$ 3.0 bn in 2Q25 and R$ 2.8 bn in 1Q26; considering the monetization of CS Porto Aratu, pro forma net debt would be R$ 1.0 bn, a 66% reduction versus 1Q26, also supported by R$ 250 mn in debt buybacks of its own securities in the secondary market.
