Grupo Vamos (VAMO3) reported adjusted net income of R$ 101.1 million in the second quarter of 2026 (2Q26), up 21.8% compared to 2Q25 and 16.7% versus 1Q26. In the period, consolidated net revenue totaled R$ 1,564.3 billion, an increase of 10.8% year over year, while adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 971.5 million, an advance of 8.4%.
Rental services accounted for R$ 1,087.9 billion of net revenue in 2Q26, an increase of 8.6% versus 2Q25, with an adjusted EBITDA margin for services of 88.0%. Asset sales, including Used Vehicles and CPC-06 contracts, totaled R$ 365 million, up 12.6% on the same comparison basis, with Used Vehicles revenue of R$ 358.7 million, 10.6% above the previous year. The industrial division posted net revenue of R$ 114.4 million, 30.3% higher than in 2Q25.
Consolidated adjusted EBIT reached R$ 675.7 million in 2Q26, growth of 5.7% compared to 2Q25. Net financial result was negative by R$ 547.4 million, 3.0% higher than in 2Q25 and 1.1% higher than in 1Q26, influenced by higher expenses linked to FINAME financing indexed to the TLP. The adjusted net margin was 6.5% in the quarter, versus 5.9% in 2Q25.
Grupo Vamos’ net debt ended June 2026 at R$ 11,561.1 billion, down 6.1% in 12 months and 3.7% compared to March 2026. Leverage, measured by the net debt/EBITDA ratio for the last 12 months, stood at 3.00 times in 2Q26, versus 3.39 times in 2Q25 and 3.15 times in 1Q26. Return on invested capital (ROIC) over the last 12 months was 13.9%, with a spread of 3.5 percentage points over the cost of debt (KD).
In the first half, the company recorded net revenue of R$ 3,184.6 billion, an increase of 16.1% compared to the first half of 2025, and adjusted EBITDA of R$ 1,922.9 billion, up 7.8%. Adjusted net income for 1H26 totaled R$ 187.7 million, a slight decrease of 1.6% compared to the R$ 190.8 million in 1H25.
