Good afternoon, ladies and gentlemen. Welcome to Alupar's teleconference to discuss the results for the second quarter of 2026. We would like to inform you that this conference is held in Portuguese, and there is an option for simultaneous translation by clicking the button, Interpretation. For those listening to the conference in English, you may mute the original audio by clicking the respective button. The presentation is also available for download.
We would like to inform you that all attendees will be in listening mode, and we will have the presentation and then a Q&A session. Statements reflecting views about the future are subject to risk and uncertainty, and therefore, there can be material differences from expectations. We are not obliged to update these forecasts. Joining us on this call are Mr. José Luiz de Godoy Pereira, Alupar CFO, and Mr. Luiz Coimbra, Alupar's Investor Relations Director. I'd like to give the floor to Mr. Luiz Coimbra to begin his presentation. Please, Mr. Luiz, you may go ahead.
Good afternoon, everyone. Thank you for participating in our conference call about the second quarter this year. We prepared an agenda with five topics. I will start with the highlights for this quarter, we're going to show the evolution of our projects and their status. We'll talk about regulatory and IFRS numbers, about results allocation, and finally, we'll talk about the company's performance in capital markets. Our highlights, the first we have is we won the Lot 7 of ANEEL Transmission Auction Number 1/2026, Stage 2. It was an auction in four lots with a total CapEx of BRL 1.8 billion.
Alupar won Lot 7 with a project in the City of São Paulo from the east to the region of Guarulhos, a 17 km line underground with 345 kV. Predicted investment is BRL 1.1 billion, and the RAP we won is at BRL 96.7 million. Considering our CapEx, it will be a return in about 30%, and the relation RAP CapEx is 12.4%. This is another project we won in the City of São Paulo. We already have TECP in the Centro station, and the two projects will be synergistics.
Our expectation is to be completed in 2031. Next slide, we have another highlight, the issuing of the license for installation of TAP, T-A-P. It has been incorporated into TECP. It's a project of 351 km linking Goiás, Minas Gerais, and São Paulo. On the June 10th, we talked about this license. We already had a license to increase substation.
We received a full license contemplating the 551 km of our line. It's the biggest project we have with a CapEx at about BRL 2.1 billion with an associated RAP of BRL 287 million. With this license, we have already started the implementation of this project. I'd like to show our next highlight. ANEEL issued a decision updating the RAP with an adjustment of 4.72% in IPCA contracts. 58.9% of our revenue is in IPCA. It has had an adjustment of 24.1% adjusted at the IGP-M level.
It has changed the way of presenting the RAP. Now it's presented indexed by the IGP-M in gross values. Actually, before, it was gross values, and now it's net values and COFINS. Next slide, you'll see our final highlight. It's the payout. We had decided on that in the first quarter. We are paying interim dividends related to the first quarter.
We have paid in June. In July, we paid BRL 69.2 million, equivalent to BRL 0.21 per unit, with a payout of 48.9% based on regulatory numbers. Next section in our presentation is the advancement of our implementation projects. The first, if you look at the land area, we had significant advancement in our project in Chile. We completed the acquisition of 100% of the areas necessary to implement the project.
In another project in Peru, we have 60% of the areas negotiated. When we look at licensing, one of the highlights, as I mentioned, is the licensing of TAP we had in July, two projects in Peru were licensed. One is Maravilla. It's issued already the license. The other is... and it has been issued a license for two requests, Bicentenario and Chavarría.
The last section here, if you look at construction progress, we have two projects with a significant advancement. The first is TCN, our project in Peru. It's the first project of transmission of our company in the country. In the first quarter, we had an advancement of 28% of the works, and now we've reached 79% of works.
Our expectation is that the TCN will become operative still this year. Another project that's very relevant is TAP, about the Centro station. It's a project in phases. We are in the phase II of it, and 90% of it is concluded. Each phase we conclude, we get an associated license so that when we finish phase II, we have an additional RAP for this project added to the one for the initial phase and the phase I. We'll have total RAP for this project at BRL 46.6 million.
When we look at the project as a whole, it had advanced 31% the first quarter, and we closed this quarter with more advancements. Next slide, we are going to talk about regulatory numbers. When we look at our revenue, it went from BRL 858 million to BRL 946 million. The growth was in the transmission segment.
We had a readjustment of RAPs from the previous cycle with 5.32% in IPCA contracts and 7% in IGP-M indexed contracts, and also some assets. We had TCE, our first asset in operation in Colombia, October last year. The start of operations of ELTE in May and July. We had the acquisition of an asset we call TBO. We acquired it and started accounting it in July. This was also not in the second quarter last year, and we have it in our second quarter this year.
When we look at EBITDA, it went from BRL 680 million to BRL 724 million, and we show the revenue for transmission grew at 101%. We have resources, administrative and general expenses correlated to the increase in revenue. Because of the start of operation of new assets, we start having these expenses and revenue in our results.
Profit goes from BRL 186 million to BRL 159 million, we have a growth of 44% in EBITDA. The financial results have grown BRL 32 million, profit goes down a little. We have an increase in IPCA at 65% of our debt is indexed by IPCA. As compared to the second quarter last year, it's a lot higher. We had 1.42% this quarter against 0.35% last year. There was also an increase in income tax. By the end of last year, our benefit ended for ETEP and STN. It ended the fourth quarter last year.
The start of TCE, we have started having higher income tax on our results. Next slide, we show our corporate results. Net income has grown by 55.4% from BRL 1,047 million to BRL 1,627 million. A growth of 55.4%. We can show the first thing is an increase in the revenue. It grew by BRL 40.7 million, also monetary correction of the contractual asset.
Last quarter, we had a deflation against the IGP-M of 0.59%, and this quarter we had inflation of 4.13%, so this increases this revenue. Another increased revenue is infrastructure. It's linked to the cost of infrastructure, BRL 257.6 million, and the other accounts are similar to the regulatory numbers, with an exception of an increase of BRL 109.7 in equity pickup. The only asset we don't add is TNE. Last year, July, it had arbitrage result. It increased revenue and increased the deadline for concession of this asset.
We had a new asset, a new result, and therefore, this amount has much higher profit in this quarter, and the equivalence is accounted for here. Profit goes from BRL 145 million to BRL 416 million. The variation of EBITDA is accounted here in financial results is the same we presented in regulatory. There was an increase in IPCA, our financial results are higher, negatively, in BRL 43 million.
Income tax has been reduced by 10.4% here. It's the opposite. In the second quarter, in May, we had a tax benefit for one of our transmitters, that's ENGIE. It's a little higher than the regulatory number here. Next slide, we see the debt profile of our holding company. We closed at BRL 920 million with cash and cash equivalents at BRL 1,142 million, and we have net debt at BRL 223 million.
In this period, we have indexed debt at IPCA + 6.5% and a swap operation converting to 96.6% of the ITBI, it's a long term. We have BRL 910 million in the long term and BRL 9.6 million that we're going to pay in the short term. Next slide, we have the debt profile for consolidated debt. We closed the quarter with a debt at BRL 14,871 million.
Cash and cash equivalents at BRL 5,371 million. A net debt at BRL 9,499 million. We don't have a lot of difference as compared to the first quarter. Most of it is indexed by the IPCA. 20% is indexed by ICB and 14% in cash at the projects outside Brazil. We have approved the distribution of dividends. Interim dividends, we'll pay the same for this quarter as we paid the first quarter, BRL 69.2 million, BRL 0.21 per unit.
The payment will be made in up to 60 days from the date of approval of the payment. That was yesterday. It will be paid to shareholders who are on our bases on the August 13th. Finally, to close our presentation, I'll show the company's performance in the capital markets. We had year-to-date appreciation at 3.1% and average daily volume at BRL 30.8 million. I close my presentation now. We can have our Q&A session.
We'll now start our Q&A session for investors and analysts. If you wish to ask a question, please click Raise Hand. If your question is answered, you can leave the queue clicking Lower Hand. If you want to send a text question, you can send it in the Q&A icon, stating your name and company. Please hold. Our first question is from Mr. Ricardo Bello from Safra. Please go on.
Thank you for answering my questions. First, I'd like to know about perspectives for Latin America, if you are participating in any events this year, and also about the auction for batteries we'll have the end of the year and an auction that's going to happen in October for transmission. What are you looking at in terms of competition and opportunities? Our second question is about the expenses of the holding company. It's a little higher this quarter, including all the operations you have in Latin America. I'd like to know if we should expect this to be a new cost level in this line. Thank you.
About Latin American auctions, we are looking at it. There isn't a lot this year, but we're looking and we are trying to find, because we have structure in these places, so these are smaller projects. About batteries auctions, we have some projects registered. I think it's interesting for us to participate, but we have to have great discipline because there's a lot of offer there and the amounts registered are really high. It's a little early to tell.
Another question is about expenses. I don't know if you're talking about consolidated expenses of the holding company, but we are considering all the holdings outside Brazil as well, so maybe that has impacted the results. In Brazil it was the PLR. It's paid now from last year, therefore it impacted a little more. I think that's the item that's most relevant in holding expenses. It happens in the second quarter.
Perfect. Thank you. It's very clear.
We remind you that to ask a question, you just click raise hand. Please wait while we get more questions. Please hold while we wait for more questions. Our next question is from Mr. Laureano. He is an investor. Do you predict an impact of the tax reform on the revenues?
I don't know if he's talking about gross or net income. There may be a difference in gross revenue, but in net revenue, no, it's neutral in that sense. If there is any change in tax rates, it will be automatically added to the transmission costs. In case of energy transmission, we are working with net tax amount. Even negotiations we have this year, the values negotiated in BBCE and the general market for energy, we negotiate gross values and the prices in the market for 2027.
We are negotiating net amounts and you're going to gross up the taxes, PIS, COFINS, et cetera. Actually these are going to be extinguished over the years, and this is basically what we're doing. In the case of transmission as well, most of our contracts, the revenue of RAP is net, grossing up the taxes. We believe there is no impact in terms of net revenue.
I remind you that to ask questions, you just click raise hand, and if you want to send a text question, you can click the Q&A icon, entering your name and company. The questions- and- answers session is closed. We would like to give the floor to Mr. José Luiz to make the final comments of the company.
I'd like to once again thank you all for your participation. Our team is at your disposal, shareholders and investors in general, to ask any questions you may have. We are here at your disposal. You can call and we'll answer you gladly. Thank you again and I'll see you next time.
Alupar's conference call has concluded. Thank you all for participating and have a good afternoon.