Na JHSF, outro tri recorde. A meta agora é triplicar o EBITDA em 3 anos

The recent JHSF report showcased yet another quarter of record revenue and profit across all business lines. CEO Augusto Martins revealed the company's ambitious goal of nearly tripling its EBITDA within three years, growing from R$730 million in the most recent fiscal year to over R$2 billion, a 2.7x increase. According to Martins, this growth will stem from the company's expansion across all five verticals, with new deliveries planned for 2026, 2027, and 2028.

He explained that these deliverables, along with acquisitions that have already matured, and those under construction, will collectively drive the company toward this target. The expansion of EBITDA considers both delivered and acquired assets that will mature in the coming years, as well as those currently in the pipeline. In shopping centers, this includes the recently opened CJ Village Boa Vista, ongoing development of Cidade Jardim, and the construction of CJ Faria Lima.

In hospitality and gastronomy, JHSF recently delivered or is constructing ten new hotels and twelve new restaurants, while in airports, it secured eight new hangars in Catarina, expanded the patio area, and acquired a terminal in Miami, which began positively impacting results from the most recent quarter. In the rental and club sectors, JHSF announced the completion of 56 new rental units, with another 76 units in development, alongside the construction of a new social club in Faria Lima, set to open in 2028, and the ramp-up of Fasano Tennis Club, which is already operational.

The company also anticipates new investments in JHSF Capital, aiming to grow from R$12 billion in assets under management to approximately R$20 billion. The CEO highlighted that JHSF possesses a "very solid" capital structure, enabling this expansion plan without significant financial strain. The company closed the second quarter with a liquid cash position of R$1.2 billion, considering a gross debt of R$6.2 billion, a cash reserve of R$4.4 billion, and $3 billion in accounts receivable.

This cash position comfortably covers the next seven years of obligations, following the completion of a R$1 billion CRI issuance in progress, which will extend the duration and lower the cost of capital. The company reported R$985 million in gross revenue, an 81% increase year-over-year, with an adjusted EBITDA of R$503 million, double the figure from the second quarter of 2025.

Net profit reached R$444 million, an 85% increase. All figures represent historical records for the company's second quarter. Considering only recurring revenue, JHSF reported R$439 million in revenue, a 30% increase, and EBITDA of R$197 million, a 31% surge. All recurring revenue streams saw strong growth, but the shopping vertical led the charge.

The CEO noted that JHSF outperformed the market average in key indicators, attributing this success to a strong calendar year, unlike competitors facing a downturn due to the World Cup schedule. Same store rent grew by 11%, with a real (inflation-adjusted) increase of 6%, and gross revenue expanded by 10%, reaching R$107 million.

EBITDA grew by 7%, reaching R$57 million. A standout performance was the opening of the largest Dior store in Latin America at Cidade Jardim, achieving 100% occupancy. In hospitality and gastronomy, the average daily rate rose by 6%, occupancy stood at 49%, and RevPar climbed 7% to R$2,133. EBITDA jumped 17%, to R$27 million. In airports, EBITDA surged 26%, from R$45 million to R$57 million, while revenue increased 54%, to R$107 million.

In rental properties and clubs, EBITDA grew 75%, to R$52 million, while revenue almost doubled, to R$79 million. The company operates 72 units, all at 100% occupancy. The CEO also praised the performance of their clubs, with the Boa Vista Village Surf Club receiving a waitlist of 50 interested members, the São Paulo Surf Club beginning to restrict new title sales, and the Fasano Tennis Club, the newest offering, experiencing high sales demand. The club's membership, priced at R$1.25 million, is selling briskly.