In the release of its institutional earnings presentation for the second quarter of 2026, Lavvi (LAVV3) reported net income of R$ 361 million in the 12-month period ended in 2Q26, with a net margin of 20%. In the same 12-month period, net revenue reached R$ 1.813 billion and return on equity (ROE) was 24%.
Compared with the 12-month period ended in 2Q25, when net income was R$ 412 million with a 23% margin, the result represents a 12% drop in profit and a 3-percentage-point decline in margin. Net revenue at that time was R$ 1.785 billion, indicating a 2% year-over-year increase.
Lavvi’s gross profit in 2Q26 LTM totaled R$ 616 million, with a 34% margin, versus R$ 623 million and a 35% margin in 2Q25 LTM. Since the IPO, in 2020, when the company reported net revenue of R$ 360 million, gross profit of R$ 150 million, net income of R$ 94 million and ROE of 14%, the indicators have been presented by the company on a growth trajectory up to the current level.
Lavvi also highlighted that launches totaled R$ 3.594 billion in 2Q26 LTM, considering 100% of the general sales value (VGV, an indicator of the potential sales value of the developments), versus R$ 1.813 billion in the IPO year. Net sales amounted to R$ 3.160 billion in 2Q26 LTM, compared with R$ 1.752 billion in 2020, based on the same historical series.
On the financial side, the company reported net debt of R$ 525 million at the end of 2Q26, equivalent to 30.6% of shareholders’ equity, after a negative balance of R$ 965 million in 2020, when the net debt/shareholders’ equity ratio was -74.2%. In 2Q26 LTM, the chart in the presentation shows cash consumption of R$ 476.097 million, dividend payments of R$ 362.890 million, adjusted cash consumption of R$ 113.207 million, land investments of R$ 384.120 million and cash generation ex-land of R$ 270.913 million.
