Jalles (JALL3) reports net income of R$ 41.4 mn in 2Q27

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 201.4 mn, versus R$ 408.0 mn in 2Q26, with a margin of 59.9%. Settlement of sugar and currency hedges (protection against price and exchange rate fluctuations) totaled R$ 68.7 mn, up 43.5%. With this effect, adjusted EBITDA after hedge reached R$ 270.1 mn, with a margin of 80.3%, and adjusted EBIT after hedge was R$ 78.7 mn, down 46.0%.

In the six months (6M27), the company posted a net loss of R$ 32.7 mn, versus net income of R$ 5.0 mn in 6M26. Net revenue was R$ 676.8 mn, down 40.9%, and adjusted EBITDA after hedge totaled R$ 539.4 mn, down 26.4%. Cash earnings were R$ 70.1 mn in the quarter and R$ 45.9 mn in the six months.

Operationally, agricultural productivity rose 17.4% in the quarter, to 86.6 t/ha. The production cost per ton of ATR (total recoverable sugar) fell 5.9% in the six months, to R$ 1,503.5. Ethanol inventory reached 200.2 thousand m³, up 79.5%.

As of September 30, 2026, cash and investments totaled R$ 2,066.4 mn, and net debt was R$ 2,005.7 mn, a ratio of 2.0 times adjusted EBITDA for the last 12 months, versus 1.2 times a year earlier. The company has 196.1 thousand tons of sugar fixed for the 2027/28 crop, at R$ 2,503 per ton.