Financial updates for Vulcabras and Rossi in Brazil

Vulcabras S.A., the sportswear manufacturer managing brands such as Olympikus, Mizuno, and Under Armour, has seen a reduction in net debt. During the first half of 2026, the company’s net debt fell to 576 million BRL from 769 million BRL at the end of 2025. Consequently, Genial initiated coverage of Vulcabras stock with a buy rating and a price target of 20.00 BRL. While the company saw a 11.20 percent increase in total revenue to 994.80 million BRL in the second quarter of 2026, it continues to manage the impact of previous capital distributions.

Separately, Brazilian residential real estate developer Rossi has filed overdue quarterly reports for the first and second quarters of 2026. The company is seeking to lift its suspended trading status on the B3 exchange. Rossi reported a net loss of 29.2 million BRL for the second quarter of 2026, with net debt rising slightly to 478.5 million BRL. The company is currently working through a restructuring process, having received creditor approval for a modified plan in August 2026.