Alpargatas (ALPA4) reported net income of R$ 169.7 million in the second quarter of 2026 (2Q26), up 95.1% compared to 2Q25. In the period, the company posted net revenue of R$ 1.226 billion, an increase of 11.3% on the same comparison basis, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, excluding extraordinary items) of R$ 286 million, with a margin of 23.3%.
Gross profit totaled R$ 690.8 million in 2Q26, growth of 14.6% year-on-year, with a gross margin of 56.3%. Unadjusted EBITDA was R$ 269.1 million, 54.1% above 2Q25, while the EBITDA margin rose from 15.9% to 21.9%. The company also reported that return on invested capital for the last 12 months reached 18%, 11 percentage points above the level of a year earlier.
The Havaianas Brazil operation sold 45.6 million pairs in 2Q26, an increase of 8.6% compared to 2Q25, and generated net revenue of R$ 809.2 million, up 16.7%. EBITDA in Brazil was R$ 165.7 million, with a margin of 20.5%. Havaianas International, in turn, sold 7.7 million pairs, an increase of 11.9%, with revenue of R$ 405.8 million and EBITDA of R$ 117.4 million, double the amount recorded a year earlier, resulting in a margin of 28.9%.
On June 30, 2026, Alpargatas’ net debt was R$ 532.2 million, compared to a net cash position of R$ 194 million a year earlier, leading to leverage of 0.5x net debt/adjusted EBITDA for the last 12 months. Cash and securities totaled R$ 733.7 million and loans and financing came to R$ 1.265 billion.
In the quarter, operating cash flow was a positive R$ 146.5 million and capital expenditures in property, plant and equipment and intangibles (capex) reached R$ 54.1 million, within the annual budget of R$ 243 million. The company also highlighted 9% growth in total pairs sold, to 53.3 million, and a net margin of 13.8% in 2Q26, compared to 7.9% a year earlier.
