Unipar Carbocloro (UNIP6) Q1 2026 earnings summary

Executive summary

• Achieved and surpassed 2025 sustainability goals, including a 22% reduction in CO2 emissions and 79% renewable energy usage, exceeding targets.

• Completed the largest CAPEX cycle in company history, modernizing the Cubatão plant and advancing technological and operational efficiency.

• Entered a 15-year solar energy contract and joint venture with Casa dos Ventos, securing long-term clean energy supply and a right to acquire up to 9.8% stake.

• Maintained strong operational cash generation (R$316 million) and reversed previous quarter's net loss, with net income at R$37 million.

• Sustainability and social impact initiatives reached 13.5 million people and achieved 100% certified supply chain.

Financial highlights

• Adjusted net revenue was R$1,221 million, up 4% sequentially but down 10% year-over-year due to lower international prices and currency effects.

• Adjusted recurring EBITDA was R$145 million (some sources: R$174 million), down 20% sequentially and 51–59% year-over-year.

• Net income reached R$37 million, reversing a loss in 4Q25 but down 75% year-over-year.

• Operating cash generation was R$316 million, with a cash position of R$1.2 billion covering 30 months of debt amortization.

• Net debt/EBITDA ratio increased to 2.58x, with net debt at R$2,394 million.

Outlook and guidance

• Focus on increasing competitiveness through technological modernization, capacity expansion, and renewable energy agreements.

• CapEx for 2026 projected to be about half of 2025 levels, focused on maintenance and select strategic projects.

• Fiscal benefits from accelerated depreciation of Cubatão CAPEX expected to support deleveraging over the next 30 months.

• New renewable energy projects and joint ventures to increase energy self-sufficiency from 2028.

• Dividend policy remains at 25% of net income, with additional distributions dependent on leverage and liquidity.