Simpar (SIMH3), through CS Infra, released updated financial indicators in August 2026, based on 2025 data and the annualized second quarter of 2026 (2Q26). Net service revenue increased from R$ 154 mn in 2025 to R$ 347 mn in annualized 2Q26, while EBITDA (earnings before interest, taxes, depreciation and amortization) rose from R$ 82 mn in 2025 to R$ 191 mn in annualized 2Q26. On the same basis, net income climbed from R$ 31 mn to R$ 90 mn and return on invested capital (ROIC) improved from 12.6% to 20.7%.
According to the presentation, the figures exclude operations of CS Portos Aratu, Ciclus Rio and Ciclus Amazônia, which were reclassified as discontinued operations in 2Q26 and removed from the comparative periods. Compared to 2025, CS Infra reports growth of 125% in revenue, 135% in EBITDA, 190% in net income and an 8.1 percentage point increase in ROIC, reflecting the beginning of asset maturation.
The company also presents an internal projection for EBITDA growth of its current portfolio. Considering only concessions already contracted and still under implementation or ramp-up in 2Q26, the annualized EBITDA of R$ 191 mn could reach R$ 524 mn in 2029, when these assets are in steady state, without including new projects from the pipeline.
CS Infra also highlights its track record of value creation through divestments. In the transactions involving Ciclus Rio, Ciclus Amazônia and CS Porto Aratu, the combined adjusted enterprise value was R$ 3,924 mn, with an average nominal internal rate of return of 36% per year, a multiple on invested capital (MOIC) of 2.9x and an average term of 3.3 years, according to the table presented.
