On Tuesday, August 11, 2026, Dexxos Participações (DEXP3, DEXP4) reported adjusted net income of R$ 42.0 million in the second quarter of 2026 (2Q26), up 8.0% compared with 2Q25, with an adjusted net margin of 9.1%. Consolidated net revenue totaled R$ 460.3 million in the period, a 22.9% year-over-year decline.
Dexxos’s consolidated gross profit was R$ 83.9 million in 2Q26, a drop of 9.6% versus 2Q25, while the gross margin reached 18.2%, an increase of 2.7 percentage points. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) came to R$ 58.8 million in the quarter, down 13.2% compared with 2Q25, with a margin of 12.8%, 1.4 percentage points above the previous year.
In the first half of 2026 (1H26), the company posted net revenue of R$ 847.2 million, a decline of 29.4% versus 1H25. Adjusted net income reached R$ 93.4 million in the half-year, growth of 2.0%, with an adjusted net margin of 11.0%, 3.4 percentage points above the same period in 2025. Adjusted EBITDA totaled R$ 117.3 million in 1H26, a 24.8% year-over-year decrease, with a margin of 13.8%.
Dexxos’s cash position remained higher than its indebtedness in 2Q26. The Net Cash metric, which considers the cash and cash equivalents balance less total debt, was a positive R$ 16.6 million, compared to net debt of R$ 82.1 million at the end of 2Q25, an improvement of R$ 98.7 million. The ratio of net debt (excluding IFRS 16) to adjusted EBITDA for the last 12 months was -0.1x in 2Q26, versus 0.3x in the same quarter of the previous year.
In the chemicals segment, operated by GPC Química, net revenue was R$ 351.7 million in 2Q26, down 19.9% versus 2Q25, and adjusted EBITDA reached R$ 55.8 million, up 5.6%, with a margin of 15.9%. In steel, through Apolo Tubos, net revenue totaled R$ 108.6 million in the quarter, a 31.4% year-over-year decline, and adjusted EBITDA was R$ 1.6 million, a 91.0% drop compared with 2Q25.
Throughout 1H26, Dexxos also reported the maintenance of its share buyback program limited to 3.6 million shares, the start of an administrative proceeding by ANP that preventively suspended the import of methanol for resale by subsidiary GPC Química, and the contracting of a R$ 100 million credit line by GPC Química from FINAME – BNDES, with a 24-month term, which may be extended for up to an additional 12 months.
