Itaúsa Reports Impressive R$8.8 Billion Net Income Growth in 1H26

Itaúsa Achieves Record Net Income of R$8.8 Billion in 1H26

In the first half of 2026, Itaúsa (B3: ITSA4), the leading publicly traded investment holding company in Brazil, announced a staggering recurring net income of R$8.8 billion. This marks an impressive growth of 12% compared to the same time last year, demonstrating the company’s robust financial health and effective management strategies.

CEO Alfredo Setubal highlighted that this performance underscores Itaúsa's solidity and the fruitful strategies employed across its diverse portfolio. "The results from this semester reflect the consistency of our approach, the quality of our holdings, and our disciplined allocation of capital," Setubal stated.

The company's recurring return on equity (ROE) for this period reached an exceptional 19.3%, an increase of 1.5 percentage points from the previous year. The increase can be attributed to the strong performance of its investees, showcasing resilience and solid growth in various sectors.

Solid Performance from Investee Companies

Itaúsa's performance is buoyed by the strength of its investees. In the first half of 2026, the recurring results from these entities amounted to R$9.4 billion, up 11% from the same period last year. Notably, Itaú Unibanco played a significant role in this growth, achieving a 10% rise in its performance, while non-financial investees excelled, exhibiting a 32% advancement.

Itaú Unibanco's loan portfolio saw sustained expansion, with non-performing loan (NPL) ratios staying at historically low levels. The bank's strategy effectively balanced growth and risk management, leading to an impressive efficiency ratio of 37.4%. Additionally, a strong Tier I capital ratio of 13.8% ensures that the bank remains well above regulatory minimums, highlighting prudent credit management and robust capital generation.

In the non-financial sector, companies such as Dexco achieved profitable growth in their wood and metals divisions, making strides in their deleveraging processes, though they faced some challenges due to market fluctuations in raw materials.

Alpargatas demonstrated remarkable growth in revenue and net income thanks to an improved product mix and successful international operations, while Motiva capitalized on its new assets to report strong operational performance. Copa Energia and Aegea also contributed positively, although slightly strained by financial pressures, demonstrating Itaúsa's strategic foresight in diversification and capital allocation.

Financial Stability and Liquidity

Itaúsa's strong financial position continued as of June 2026, concluding the period with a cash reserve of R$2.2 billion, alongside net debt standing at R$1.2 billion. This liquidity ensures the company can comfortably meet its financial obligations without facing principal debt maturity until 2028. Furthermore, a recent capital increase of R$2.1 billion aimed at reinforcing Aegea's financial capabilities illustrates Itaúsa's commitment to long-term growth strategies and shareholder value.

With ongoing investments, Itaúsa also increased its equity interest in Alpargatas to 30.62%, underpinning its strategic focus on high-potential entities. These financial initiatives have lowered expenses and maintained a manageable debt profile, enhancing the overall financial strategy of the holding company.

Commitment to Ethics and Shareholder Value

Recognizing the importance of a strong workplace culture, Itaúsa received the Great Place To Work certification for the sixth consecutive year and was honored as a Pró-Ética Company during the 2025-2026 cycle, showcasing its adherence to ethical governance and corporate integrity.

On August 28, 2026, Itaúsa is set to reward its shareholders with R$2.3 billion in interest on capital, translating to R$0.20955 per share. The company's total shareholder return (TSR) reached 39.2% between June 2025 and June 2026, significantly outperforming the Ibovespa index’s 23.9%. This consistent return highlights Itaúsa's strategic focus on creating lasting shareholder value, supported by a robust financial framework and disciplined approach to capital management.

Conclusion

Itaúsa's latest earnings report marks a pivotal moment in its trajectory, further establishing its reputation as a leading investment holding firm in Brazil. The firm’s unwavering commitment to creating sustainable value for its shareholders, coupled with a diversified portfolio designed to withstand market fluxes, positions it favorably for future growth. With nearly a million shareholders, Itaúsa aims to promote positive transformations in Brazil's economy through its investments in vital sectors, continuing its legacy of excellence in asset management.

Itaúsa remains focused on executing its vision of sustainable growth, creating meaningful impacts for its stakeholders while ensuring ethical governance.