Brazil’s Axia reverses loss, posts R$2.63B profit in Q1 2026

Axia reported a net profit of 2.63 billion reais in the first quarter of 2026, reversing a net loss of 354 million reais in the same period a year earlier. The company released its first-quarter results on Wednesday.

Adjusted net profit reached 3.7 billion reais in the quarter, compared with an adjusted loss of 80 million reais in the first quarter of 2025.

Regulatory adjusted Ebitda totaled 8.6 billion reais in the first quarter of 2026, an increase of 60 percent from the first quarter of 2025.

Net operating revenue amounted to 12.7 billion reais in the first quarter, up 22.1 percent year over year.

Axia also said its board of directors decided to begin a succession process for the company. The move involves a set of structured initiatives and changes to Axia’s organizational model. The current president, Ivan de Souza Monteiro, has a term that ends on April 30, 2027.

The board approved the creation of an executive vice presidency, effective June 1, 2026. The position will be temporary, lasting until April 2027, and will report directly to Monteiro. Élio Wolff, currently vice president of strategy and business development, will fill the new role.

During the transition period, several vice presidencies will report to the new executive vice presidency. These include engineering and projects; commercialization and energy solutions; technology and innovation; operations and safety; learning, people and services; and regulation, institutional and market.

The vice presidencies of governance and sustainability, finance and investor relations, and legal will continue to report directly to the president.

All vice presidencies will return to reporting directly to the company’s president on May 1, 2027, when the transition period ends. The vice presidency of strategy and business development will be eliminated on June 1, 2026, and its current responsibilities will be divided between the finance and investor relations vice presidency and the learning, people and services vice presidency.

Axia stated that the initiatives approved by the board are part of a structured succession and leadership development process, conducted with the help of specialized advisers. The company said the process ensures an organized, predictable and responsible transition, strengthens the leadership pipeline and preserves critical capabilities.