# Comerc Energia's Hélio Valgas Solar Swings to R$ 72.88 Million Third-Quarter Profit

> Hélio Valgas Solar, a Comerc Energia subsidiary, posted R$ 72.88 million in third-quarter net profit, reversing a year-earlier loss.

- Published: 2026-11-05T20:26:47+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-05/comerc-energia-helio-valgas-q3-profit
- Source: [The future of trading](https://capital.com/en-int/news/comerc-energia-subsidiary-helio-valgas-solar-swings-to-q3-profit)

## Key takeaways

- Hélio Valgas Solar reported third-quarter 2026 consolidated net profit of BRL 72.88 million, reversing a BRL 109.71 million loss a year earlier.
- Net revenue fell to BRL 67.52 million from BRL 86.54 million, while net financial income reached BRL 43.96 million.
- Cash rose to BRL 161.54 million at September 30, 2026, mainly reflecting BRL 112.28 million from swap settlements.

Hélio Valgas Solar Participações, a subsidiary of Comerc Energia, posted consolidated net profit of BRL 72.88 million for the third quarter of 2026, reversing a BRL 109.71 million loss a year earlier. [The future of trading](https://capital.com/en-int/news/comerc-energia-subsidiary-helio-valgas-solar-swings-to-q3-profit) published the figures on November 5, 2026.

## How Hélio Valgas Solar Reversed Its Loss

Net revenue at the subsidiary fell to BRL 67.52 million from BRL 86.54 million a year earlier. Net financial income reached BRL 43.96 million, compared with a net financial expense of BRL 111.4 million in the year-earlier quarter.

For the nine months to September 30, 2026, the consolidated net loss narrowed to BRL 6.71 million from BRL 598.87 million a year earlier. Cash stood at BRL 161.54 million at September 30, 2026, primarily reflecting BRL 112.28 million from swap settlements.

[Comerc Energia](https://akta.pro/company-profiles/00021qt/comerc-energia) is a Brazilian energy management and commercialization platform serving more than 2,000 companies across more than 4,500 consumer units in the country's Free Energy Market, according to akta.pro [company records](https://akta.pro/company-data). The São Paulo-based company, founded in 1999, is a wholly-owned subsidiary of Vibra Energia and holds more than 6% of Brazil's total energy load.

## Comerc Energia's Scale and Ownership

The same records show Comerc generated R$5.7 billion in economy for its Free Energy Market clients in 2024, up from R$3.2 billion in 2023. Vibra Energia acquired the remaining 50% of Comerc for R$3.52 billion in August 2024, completing a prior R$3.25 billion acquisition of the first 50% in 2021.

In February 2026, Vibra entered advanced discussions with French energy group EDF to bring in a strategic partner for Comerc, a step that would reduce Vibra's stake to 50% or less. In March 2026, Comerc and Eucatex partnered on the 269 MWp Castilho Solar Plant, which supplies 50% of Eucatex's factory electricity consumption under a generation partnership.

## Comerc Energia's Recent Quarter and Market Opening

Comerc Energia's net debt fell R$166 million to R$2.74 billion in the third quarter of 2026, and its net debt-to-EBITDA ratio declined to 3.4 times from 3.8 times the prior quarter, the lowest level in four years, The future of trading reported on November 4, 2026.

Brazil's low-voltage commercial and industrial consumers can choose electricity suppliers starting November 25, 2027, under Decree 13.097/2026, The future of trading reported on October 14, 2026. Residential and other low-voltage consumers gain access on November 25, 2028, enabling direct negotiation of prices and terms.

## Companies in this story

- [Comerc Energia company profile](https://akta.pro/company-profiles/00021qt/comerc-energia) · website: https://www.comerc.com.br

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