Armac (ARML3) posted gross revenue of R$ 2.3 bn in the second quarter of 2026 (2Q26), on an annualized basis, according to an institutional presentation released this Monday, October 26, 2026. The company reported operating cash generation of R$ 0.7 bn in the same timeframe and a rental and services EBITDA margin (earnings before interest, taxes, depreciation and amortization) of 54.1%.
Breaking down rental and services by segment, Recurring Services accounted for 54% of revenue, followed by Rental with 23%, Forklifts with 14%, and Terram with 8%. As for contract terms, 61% of revenue came from contracts longer than three years, 20% from contracts of up to one year, 13% from terms between two and three years, and 6% between one and two years; by type, 92% of revenue is linked to fixed contracts and 8% to variable contracts.
The 54.1% rental and services EBITDA margin in 2Q26 represented an increase of 11.4 percentage points year over year. Armac’s adjusted consolidated ROIC reached 17.3% in the period, a rise of 2.1 percentage points compared to the same interval of the previous year.
The company’s four business units posted, on an annualized 2Q26 basis, gross revenue of R$ 1.1 bn in Recurring Services, R$ 790 mn in Rental, R$ 255 mn in Forklifts and R$ 146 mn in Terram. The respective EBITDA margins were 57% in Recurring Services, 56% in Rental, 66% in Forklifts and 30% in Terram.
In terms of capital structure, Armac ended 2Q26 with net debt of R$ 2.20 bn and an average funding cost equivalent to CDI + 1.3% per year, with an average tenor of 4.3 years. The ratio of expanded net debt to adjusted EBITDA over the last 12 months was around 2.5x, with the company targeting a reduction of this indicator to below 2.0x from 2028 onward.
