Itaúsa Reports Record R$16.5 Billion Recurring Net Income for 2025

Itaúsa Achieves Record Results for 2025

In a significant milestone for the company, Itaúsa (B3: ITSA4), the largest publicly-held investment holding company in Brazil, announced an impressive recurring net income of R$16.5 billion for the year ending 2025. This represents an 11% increase compared to the previous year, demonstrating the company's strong portfolio performance and adept capital management strategies.

Key Financial Highlights

Itaúsa's recurring return on equity (ROE) similarly rose to 18.4%, underscoring the consistent performance of its portfolio investments. Despite operating in a macroeconomic environment challenged by high interest rates, the company successfully navigated these conditions, reinforcing its status as a leader in Brazil's financial landscape.

For the fourth quarter alone, Itaúsa reported a recurring net income of R$ 4.4 billion, reflecting a remarkable 21% increase year-over-year. This surge was primarily driven by the robust performance of Itaú Unibanco, a key asset in its investment portfolio, alongside significant advancements in its non-financial investments.

Strong Shareholder Returns

In addition to impressive income results, Itaúsa also achieved a total shareholder return of 59% during the year, surpassing top market indicators. The company declared a whopping R$11.9 billion in earnings distributions, leading to a payout ratio of 76%. Such figures suggest that Itaúsa not only stands firm in its strategic direction but also prioritizes its shareholders' value.

CEO Alfredo Setubal highlighted the company's achievements in a recent statement, emphasizing the successful execution of long-term strategies that have consistently added value over its fifty years of history. He reaffirmed that efficient capital allocation, financial discipline, and strong governance have been crucial in sustaining this growth trajectory.

Performance of Investee Companies

Itaúsa's investee firms demonstrated impressive resilience and growth in 2025, with an overall recurring result of R$17.6 billion—12% higher than the prior year. Both financial and non-financial sectors showed positive contributions, with the financial sector producing a 10% increase, while non-financial investments surged by 42%.

In the financial sector, Itaú Unibanco showed noteworthy growth across its entire loan portfolio, maintaining healthy non-performing loan rates and effectively managing credit costs. The bank has reached historic operational efficiency levels, showcasing its competitive edge in the Brazilian market.

In the non-financial sector, notable advances were made by companies such as Aegea and Motiva, which reported increased revenues and improved operational results due to strategic tariff adjustments and new concessions. Despite facing higher financial expenses from increased Selic rates, these companies contributed significantly to Itaúsa's overall performance.

Dexco, involved in construction materials, faced challenges in its Finishing Division but still recorded positive results in other segments. Meanwhile, the Wood Division and Dissolving Wood Pulp Division continued to progress positively, reflecting diverse operational capabilities among Itaúsa’s investments.

Financial Management Initiatives

Throughout 2025, Itaúsa undertook essential measures to streamline its liability management. This included debt prepayment and reprofiling efforts that lowered both gross debt and average interest costs, resulting in extended maturities and an optimal repayment profile.

Thanks to these initiatives, Itaúsa's financial stability has been reaffirmed, receiving a prestigious ‘AAA’ risk rating from national agencies, highlighting its disciplined approach to financial management.

Continued Investment and Growth

Looking forward, Itaúsa is set to deepen its commitment to strategic growth through efficient capital allocation. In early 2026, the company announced an increase in equity interest in Aegea by R$418.1 million, boosting its total stake to 13.27%. This move is indicative of Itaúsa’s ongoing strategy to invest in sectors that promise transformational growth for Brazil and its shareholder base.

As Itaúsa commemorates fifty years of its impactful journey, the company stands out as a beacon of consistent performance and robust returns, demonstrating an unwavering dedication to sustainable value creation in the investment landscape of Brazil.