Allos (ALOS3) Q2 2026 earnings summary

Executive summary

• Achieved strong revenue and profitability growth in 2Q26 despite high interest rates and macroeconomic uncertainty, driven by media and real estate development verticals, operational efficiency, and digital platform expansion.

• 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.

• Digital platform GMV rose 31% year-over-year to R$1.6 billion, with 17 million sessions (+12%).

• Maintained high occupancy rates (96.2%) and curated tenant mix, with notable new store openings and leasing activity across the portfolio.

• Advanced mixed-use and redevelopment projects, including the Parque Dom Pedro master plan and Shopping Tijuca expansion.

Financial highlights

• Net revenue rose 11.6% year-over-year to R$732.3 million, led by media (+84.5%) and real estate development.

• Adjusted EBITDA increased 10.5% to R$525.4 million (margin 71.7%), with SG&A down 5.6%.

• FFO grew 12.0% to R$340.8 million (margin 46.5%), and net income surged 53.2% to R$308.1 million.

• Media revenue represented 10.6% of gross revenue, up 420 bps year-over-year.

• NOI increased 3.8% year-over-year to R$601.3 million.

Outlook and guidance

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

• Guidance reaffirmed for the year, with no changes expected despite macroeconomic headwinds.

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