Motiva S.A. - Results for the 2st quarter of 2026

PR Newswire
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Motiva S.A. - Results for the 2st quarter of 2026

PR Newswire

SÃO PAULO, July 29, 2026

SÃO PAULO, July 29, 2026 /PRNewswire/ -- Highlights

  • On April 2, 2026, the Share Purchase Agreement for Minas_SP (Fernão Dias) was signed, and operations began accordingly.
  • On May 8, 2026, the 26th Amendment to the Renovias concession agreement was signed, recognizing a balance of R$75 million (base date jul/25), in favor of the Company.
  • On May 11, 2026, the Modernization Amendment for Minas_SP was signed, extending the concession term by 15 years, in addition to applying the tariff step-up and the discount offered in the auction.
  • On June 30, 2026, an Amendment to the Renovias concession agreement was signed, resulting in the extension of the concession term until October 31, 2026.
  • Adjusted EBITDA increased by 30.1% in the period, with emphasis on the R$ 370 million contribution from Minas_SP, Paraná, Pantanal and Sorocabana in 2Q26.
  • Excluding the Airports Platform, Cash OPEX/LTM Adjusted Net Revenue reached 34.1% in 2Q26, down 3.7 p.p. compared to 2Q25.

Consolidated Operational and Financial Highlights

OPERATIONAL AND FINANCIAL HIGHLIGHTS
(R$ MM)

2Q25

2Q26

Var.%

1H25

1H26

Var.%

Adjusted Net Revenue¹

3,006

3,631

20.8 %

6,152

6,958

13.1 %

Adjusted EBITDA¹

1,822

2,370

30.1 %

3,872

4,607

19.0 %

Adjusted EBITDA – Toll Roads

1,540

1,995

29.5 %

3,234

3,930

21.5 %

Adjusted EBITDA – Rails

582

696

19.6 %

1,158

1,284

10.9 %

Adjusted EBITDA – Others

(300)

(321)

7.0 %

(520)

(607)

16.7 %

Adjusted EBITDA Margin²

60.6 %

65.3 %

4.7 p.p.

62.9 %

66.2 %

3.3 p.p.

Adjusted Net Income¹

397

663

67.0 %

937

1.290

37.7 %

ROE3 LTM

13.9 %

21.6 %

7.7 p.p.

13.9 %

21.6 %

7.7 p.p.

ROIC3 LTM

9.5 %

9.0 %

-0.5 p.p.

9.5 %

9.0 %

-0.5 p.p.

Net Debt/LTM Adjusted EBITDA

3,6x

3,7x

0.1x

3,6x

3,7x

0.1x

Toll Roads - Equivalents Vehicle (million)

252.8

363.0

43.6 %

556.9

676.8

21.5 %

Rails - Transported Passengers (million)

188.9

192.3

1.8 %

369.7

377.3

2.0 %

Capex4

1,617

1,831

13.2 %

2,832

3,304

16.7 %

1.Excludes construction revenue and costs. Adjustments are described in the "non-recurring effects" section in Exhibit I I (page 25).
2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
3. ROE = Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate) /Invested Capital (Equity + Gross Debt).
4. Includes improvement works that do not generate future economic benefits for ViaOeste.

\ Videoconference

Conference call in Portuguese with simultaneous translation into English:
July 30th, 2026
10:00 a.m. São Paulo / 9:00 a.m. New York
Videoconference link:
https://motiva-br.zoom.us/webinar/register/WN_j5HTwJ6uR7WgY_x99AWNtQ#/

\ IR Contacts

Flávia Godoy:     (+55 11) 3048-5900 - flavia.godoy@motiva.com.br

Douglas Ribeiro: (+55 11) 3048-5900 - douglas.ribeiro@motiva.com.br

Cauê Cunha:      (+55 11) 3048-5900 - caue.cunha@motiva.com.br

Caique Moraes:  (+55 11) 3048-5900 - caique.moraes@motiva.com.br

Ana Beatriz Bovo:(+55 11) 3048-5900 - ana.bovo@motiva.com.br

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SOURCE Motiva S.A.