BrasilAgro - Brazilian Agricultural Real Estate Co (LND) Form 6-K — Sep 4, 2026
BrasilAgro reported a consolidated net loss of R$90.0 million for fiscal 2026 (year ended June 30, 2026), a sharp swing from net income of R$138.0 million in fiscal 2025. The reversal was driven by farm-sale gains collapsing to R$2.1 million from R$180.1 million and interest expenses rising 17% amid an average CDI rate of 14.72%. The core agricultural business improved: Adjusted EBITDA from operations rose 11% to R$97.3 million on better soybean and corn results, with grain revenue up 27% and soybean and corn gross margins expanding to 20% and 21%.
Key figures
- Eps
- R$-0.9036 basic loss per share FY26 (vs +R$1.3855 FY25)
- Revenue
- R$895.7 million net sales revenue FY26 (-20% YoY); R$891.7 million from operations (+2% YoY)
- Guidance
- No formal guidance; 26/27 harvest plan set at 165,208 ha (-1%) with grain/cotton production estimated at 452,946 t (+6%)
- Net Income
- -R$90.0 million FY26 (vs +R$138.0 million FY25)
- Total Debt
- R$1,024.3 million total indebtedness (+16% YoY)
- Cash Position
- R$203.2 million total cash and equivalents incl. marketable securities (+27% YoY)
- Net debt
- R$821.1 million (+13% YoY); adjusted net debt R$280.5 million; Adjusted Net Debt/Adjusted EBITDA 2.82x
- Nav per share
- R$37.03 book NAV per share (R$38.17 ex-treasury)
- Farm sale gains
- R$2.1 million FY26 vs R$180.1 million FY25
- Average cdi rate
- 14.72% FY26 vs 12.08% FY25; average debt cost 90.52% of CDI
- Moroti farm sale
- US$1.5 million for 921 ha in Paraguay; estimated IRR 23.2% in BRL / 14.2% in USD
- Sugarcane revenue
- R$197.5 million FY26 (-39% YoY)
- Planted area 26 27
- 165,208 ha (-1%); first-crop cotton area -70%; safrinha cotton +36%; first-crop corn +22%; pasture +21%
- Proposed dividends
- R$30.0 million (R$0.3012/share), subject to October 2026 AGM approval
- Shares outstanding
- 102,683,444 total; 99,615,457 ex-treasury
- Adjusted ebitda total
- R$99.3 million FY26 (-63% vs R$267.3 million FY25)
- Portfolio market value
- R$3.34 billion (+8.2% YoY); Deloitte appraisal R$3.5 billion
- Adjusted ebitda operations
- R$97.3 million FY26 (+11% YoY); 4Q26 R$56.6 million vs -R$0.1 million 4Q25
AI analysis
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