Randoncorp: July Revenues: Another Strong Month; Growth Ex-FRAS at +9% YoY/+10% MoM; FRAS Soft at -6% YoY-20260820

J P M O R G A N Latin America Equity Research 20 August 2026 Randoncorp Table 1: Monthly Revenues Summary – Randoncorp and Frasle Mobility R$$ in millions / Percentage (%) | | RAPT | | | | FRAS | | | RAPT ex-FRAS | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | R$$mn | YoY | MoM | R$$mn | YoY | MoM | R$$mn | YoY | MoM | | Jul. 26 Rev. | 1,230 | 3% | 6% | 483 | -6% | 0% | 747 | 9% | 10% | | Rev/working day | 53.5 | 3% | -3% | 21.0 | -6% | -9% | 32.5 | 9% | 1% | | YTD | 7,618 | -1% | - | 3,11 ...