Log-In Logística Intermodal (LOGN3) reported net income of R$ 133.2 million in the second quarter of 2026 (2Q26), an increase of 431.0% compared to 2Q25. In the same period, net operating revenue totaled R$ 777.1 million, up 5.1%, and Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with adjustments) came to R$ 113.9 million, down 37.2% versus 2Q25, with an Adjusted EBITDA margin of 14.7%.
The net income performance in 2Q26 was mainly driven by higher operating income in other income, boosted by the sale of the vessels Log-In Pantanal and Log-In Resiliente, which generated a gain of R$ 155.4 million. Consolidated EBITDA without adjustments was R$ 280.1 million, up 68.1% year over year, with a margin of 36.0%.
By segment, Coastal Shipping and Integrated Solutions posted net operating revenue of R$ 500.8 million, virtually in line with 2Q25, and Adjusted EBITDA of R$ 86.4 million, a decrease of 37.8%, with a margin of 17.3%. The Vila Velha Terminal (TVV) recorded net operating revenue of R$ 134.3 million, an increase of 35.5%, and EBITDA of R$ 70.0 million, growth of 70.5%, with a margin of 52.1%, the highest Adjusted EBITDA ever recorded by the terminal.
In Road Cargo Transportation, net operating revenue was R$ 142.0 million, growth of 4.3% compared to 2Q25, while Adjusted EBITDA was a negative R$ 1.2 million, versus a positive result of R$ 2.3 million a year earlier, reflecting higher costs, mainly for fuel and freight. In the consolidated first half of 2026, Log-In reported net income of R$ 95.3 million, net operating revenue of R$ 1,457.2 million and Adjusted EBITDA of R$ 220.4 million.
As of June 30, 2026, the company had net debt of R$ 1,161.2 million and gross debt of R$ 1,484.8 million, with a Net Debt/EBITDA leverage ratio for the last 12 months of 1.3x, below the levels observed in previous quarters.
