Allos (ALOS3) Q2 2026 earnings summary

Executive summary

• Net revenue reached R$732.3 million in 2Q26, up 11.6% year-over-year, with adjusted EBITDA rising 10.5% to R$525.4 million and FFO up 12% to R$340.8 million.

• Digital platform sessions increased 12% year-over-year to 17.1 million, and GMV rose 31% to R$1.6 billion.

• Media revenue surged 84.5% year-over-year to R$83.4 million, now 10.6% of gross revenue, driven by multiplatform projects.

• Maintained high occupancy rates (96.2%-96.3%) and curated tenant mix, with new store openings and leasing activity.

• Interim financials for H1 2026 reviewed with no material misstatements, confirming compliance with accounting standards.

Financial highlights

• Consolidated net revenue for H1 2026 was R$1,384.7 million, with net income at R$592.8 million and gross margin at 71.8%.

• Adjusted EBITDA margin was 71.7%, SG&A expenses decreased 5.6% to R$105.8 million.

• Total sales at malls reached R$10.5 billion (+4.6%), with same-store sales up 2.6%.

• FFO margin was 46.5%, and net income for 2Q26 surged 53.2% to R$308.1 million.

• Basic earnings per share for H1 2026 were R$1.1379.

Outlook and guidance

• Ongoing development projects in Uberlândia, Parque Dom Pedro, and Maceió focus on mixed-use and residential expansion.

• Reaffirmed 2026 guidance: EBITDA R$2.17–2.24 billion, CAPEX R$350–450 million, and monthly dividends/IOE of R$0.27–0.29 per share.

• No impairment indicators for investment properties or intangible assets as of June 30, 2026.