Iguatemi (IGTI3) reported net income of R$ 133.8 mn in the second quarter of 2026, on a recurring basis, excluding the capital gain from the sale of stakes in Market Place and Galleria and the results of partner investors in Pátio Higienópolis and Pátio Paulista. On the same basis, FFO (funds from operations, an indicator of operating cash generation) reached R$ 170.9 mn in 2Q26, up 21.0% compared to 2Q25.
In the adjusted managerial statement, recurring net revenue totaled R$ 389.0 mn in 2Q25 and rose to R$ 396.0 mn in 2Q26, an increase of 1.8%. On a pro forma basis, which excludes the effect of assets with changes in equity interest, net revenue was R$ 354.8 mn in 2Q25 and grew 11.6%, reaching R$ 396.0 mn in 2Q26.
Recurring adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 288.4 mn in 2Q25 and reached R$ 290.6 mn in 2Q26, an increase of 0.7%. On a pro forma basis, adjusted EBITDA went from R$ 262.3 mn in 2Q25 to R$ 290.6 mn in 2Q26, growth of 10.8%. In the last 12 months ended June 2026, adjusted EBITDA totaled R$ 1.32 bn.
On the operating side, total sales at the malls reached R$ 6.59 bn in 2Q26, up 4.6% from R$ 6.30 bn in 2Q25. Sales per square meter at the malls rose 4.6% to R$ 9,609, while rent per square meter increased 3.3% to R$ 711. Considering only the company’s ownership area, sales per square meter grew 13.3% to R$ 9,837, and rent per square meter increased 11.8% to R$ 703.
Iguatemi ended 2Q26 with an occupancy rate of 96.9% of GLA and net delinquency of 0.1%. Net debt stood at R$ 2.14 bn on June 30, 2026, with a net debt/EBITDA ratio of 1.65x and net debt/adjusted EBITDA of 1.62x, an average cost equivalent to 101.9% of the CDI and an average term of 4.7 years, not considering the early repayment of the 2nd series of the 11th debenture issue carried out on July 1, 2026.
