Rede D’Or São Luiz (RDOR3) reported net income of R$ 1,239.4 million in the second quarter of 2026, an increase of 9.7% compared to 2Q25. In the same period, consolidated gross revenue reached R$ 16,018.8 million, up 5.9% year-on-year, combining the hospital operations and SulAmérica.
Consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) totaled R$ 2,903.7 million in 2Q26, an increase of 18.2% versus 2Q25, with an EBITDA margin of 19.5%. Considering the financial result on the insurer’s linked assets, adjusted consolidated EBITDA reached R$ 3,420.9 million, growth of 22.3% on the same comparison basis.
In the hospital, oncology, and other services operations, gross revenue came to R$ 9,869.1 million in 2Q26, a 9.9% y/y increase, while net revenue reached R$ 8,737.3 million, up 9.8% y/y. Gross profit for this segment totaled R$ 2,313.9 million, an increase of 20.1% compared to 2Q25, with a gross margin of 26.5%. EBITDA for this area was R$ 2,291.5 million, growth of 11.3% y/y, with a margin of 26.2%.
SulAmérica, included in the consolidated figures, posted net revenue of R$ 8,705.9 million in 2Q26, an expansion of 6.9% over 2Q25, supported by a larger beneficiary base and price adjustments. SulAmérica’s EBITDA was R$ 612.1 million, up 53.4% y/y, and EBITDA adjusted for the financial result of the linked assets totaled R$ 1,117.3 million, an increase of 53.2% versus the same quarter of the previous year.
In the six-month period ended June 2026, Rede D’Or’s consolidated gross revenue totaled R$ 31,500.5 million and consolidated EBITDA came to R$ 5,873.1 million. The company’s net debt amounted to 1.71 times EBITDA at the end of June 2026, and managerial cash generation in 6M26 was R$ 5,400 million, which represents conversion of 92.2% of the EBITDA reported in the period.
