Itaúsa Achieves 17% Increase in Recurring Net Income for Q1 2026

Itaúsa's Remarkable Performance in Q1 2026

Itaúsa, the largest publicly-held investment holding company in Brazil, has released its financial results for the first quarter of 2026, showcasing a remarkable recurring net income of R$ 4.5 billion. This figure represents a noteworthy 17% increase compared to the same period last year, underlining the resilience and strong performance of its investments amidst a challenging global market.

Strong Growth Amidst Market Challenges

The results reflect a solid recurring return on equity (ROE) of 20.1%, an increase of 2.7 percentage points. According to Alfredo Setubal, the CEO and Investor Relations Officer at Itaúsa, these results highlight the company’s strategic capital management and the robust performance of its portfolio. Despite uncertainties and volatility in the economic environment, Itaúsa continues to record consistent growth in profits, emphasizing its commitment to long-term value creation.

In this quarter, Itaúsa has successfully reinforced its value creation journey, primarily driven by the performance of Itaú Unibanco, along with significant growth from its non-financial investees. The return to shareholders reached R$ 1.3 billion, marking a 39% year-on-year increase, which reaffirms the company’s dedication to dividend distribution and maximizing shareholder value.

Performance of Investee Companies

Analyzing the performance of its investees, Itaúsa recorded a recurring result of R$ 4.8 billion, up 16% compared to the previous year. Notably, Itaú Unibanco showcased strong results, reporting an 11% increase in performance, supported by growth in its loan portfolio across Brazil and Latin America, and maintaining healthy non-performing loan (NPL) ratios. Additionally, the bank has improved its operational efficiency, achieving an efficiency ratio of 37.1% at consolidated levels.

Among its non-financial investees, significant performance gains were observed. Dexco, for instance, benefitted from its Wood and Metals and Sanitary Ware segments, although challenges in the Ceramic Tiles division weighed on results. Meanwhile, Alpargatas reported a rise in revenue, EBITDA, and profit, aided by increased sales volume and a favorable product mix, particularly from international operations. Motiva also reported favorable outcomes driven by tariff adjustments and increased transportation activity.

Copa Energia observed an uptick in EBITDA and profits, benefiting from improved sales volumes and margins, resulting in lower net debt. In contrast, although Aegea saw growth in operational results, higher financial expenses prevented better outcomes in that segment for the quarter.

Solid Financial Structure and Growth Strategy

Itaúsa maintains a robust financial structure, signified by a strong cash position and an appropriate debt profile. The company completed a capitalization of R$ 418.1 million in March, which enhanced its equity interest in Aegea to 13.27%. This strategic move illustrates Itaúsa's commitment to enhancing its portfolio and fostering growth among its investees.

The attractive liquidity levels and a well-managed debt profile, characterized by extended terms and lower average cost, further reflect the effective financial management practices that Itaúsa has instituted over the years. The company's discipline in capital allocation continues to create a competitive advantage in the market.

Commitment to Shareholder Value

In the twelve months leading up to March 2026, Itaúsa has upheld a consistent policy regarding shareholder returns, showcasing an impressive dividend yield of 8.8%, one of the highest on the B3 stock exchange. This period culminated in a total shareholder return (TSR) of 67.6%, significantly outperforming major market indicators.

Itaúsa remains focused on financial discipline, strong governance, and strategic oversight of its investees with an aim to foster sustainable value creation in the future.

Conclusion

Itaúsa's first-quarter results for 2026 underscore the company's ability to navigate the complexities of a volatile market environment successfully. With a dedicated focus on enhancing shareholder value and a commitment to sustainable growth, Itaúsa proves to be a formidable player in the Brazilian investment landscape. As it continues to adapt and evolve, Itaúsa is poised to maintain its position as a leading investment holding company in Brazil for years to come.