Equity (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Disclosure Equity Abstract |
|
| Schedule of share capital |
| Schedule
of share capital |
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2025 |
Common |
|
Preferred |
|
Total Capital |
| |
Number of Shares |
|
% |
|
Number of Shares |
|
% |
|
Number of Shares |
|
% |
| |
|
|
|
|
|
|
|
|
|
|
|
| State of São Paulo (1)(2) |
126,684,334 |
|
18.0 |
|
1 |
|
100.0 |
|
126,684,335 |
|
18.0 |
| Equatorial S.A. |
105,566,079 |
|
15.0 |
|
- |
|
- |
|
105,566,079 |
|
15.0 |
| Free Float |
471,523,455 |
|
67.0 |
|
- |
|
- |
|
471,523,455 |
|
67.0 |
| Total |
703,773,868 |
|
100.0 |
|
1 |
|
100.0 |
|
703,773,869 |
|
100.0 |
| December 31, 2024 |
Common |
|
Preferred |
|
Total Capital |
| |
Number of Shares |
|
% |
|
Number of Shares |
|
% |
|
Number of Shares |
|
% |
| |
|
|
|
|
|
|
|
|
|
|
|
| State of São Paulo (1)(2) |
123,036,669 |
|
18.0 |
|
1 |
|
100.0 |
|
123,036,670 |
|
18.0 |
| Equatorial S.A. |
102,526,480 |
|
15.0 |
|
- |
|
- |
|
102,526,480 |
|
15.0 |
| Free Float |
457,946,719 |
|
67.0 |
|
- |
|
- |
|
457,946,719 |
|
67.0 |
| Total |
683,509,868 |
|
100.0 |
|
1 |
|
100.0 |
|
683,509,869 |
|
100.0 |
| (1) | Considers 126,684,328 common shares
held by the São Paulo State Treasury Department and six common shares held by Cia. Paulista de Parcerias – CPP, a company
controlled by the São Paulo State. |
| (2) | Special class preferred share. |
|
| Schedule of shareholder returns |
| Schedule of shareholder returns |
|
|
|
|
|
| |
2025 |
|
2024 |
|
2023 |
| |
|
|
|
|
|
| Profit for the period |
8,462,059 |
|
9,579,563 |
|
3,523,531 |
| (-) Legal reserve - 5% (c) |
423,103 |
|
478,978 |
|
176,177 |
| (-) Mandatory minimum dividend – 25% (c) |
2,009,739 |
|
2,275,146 |
|
836,839 |
| (-) IRRF w/o interest on equity |
371,823 |
|
274,668 |
|
147,689 |
| Investment reserve (e) |
5,657,394 |
|
6,550,771 |
|
2,362,826 |
|
| Schedule of equity valuation adjustments |
| Schedule of equity valuation adjustments |
|
|
|
|
|
|
|
| |
G1 Plan |
G0 |
Hedge |
Total |
| |
|
|
|
|
|
|
|
| Balance as of December 31, 2024 |
242,834 |
|
45,855 |
|
(8,350) |
|
280,339 |
| Actuarial gains/(losses) for the year (Note 25) |
(100,152) |
|
(104,294) |
|
8,350 |
|
(196,096) |
| Balance as of December 31, 2025 |
142,682 |
|
(58,439) |
|
- |
|
84,243 |
| |
G1 Plan |
G0 |
Hedge |
Total |
| |
|
|
|
|
|
|
|
| Balance as of December 31, 2023 |
235,708 |
|
(89,346) |
|
- |
|
146,362 |
| Actuarial gains/(losses) for the year (Note 25) |
7,126 |
|
135,201 |
|
- |
|
142,327 |
| Gains/(losses) on financial instruments (Note 19) |
- |
|
- |
|
(8,350) |
|
(8,350) |
| Balance as of December 31, 2024 |
242,834 |
|
45,855 |
|
(8,350) |
|
280,339 |
|
| Schedule of changes in the number of shares |
| Schedule of changes in the number of shares |
|
|
|
|
|
| Changes in shares |
Performance shares |
|
Restricted shares |
|
Total |
| Balance at the beginning of year |
- |
|
- |
|
- |
| Granted |
2,066,834 |
|
366,716 |
|
2,433,550 |
| Balance at the end of year |
2,066,834 |
|
366,716 |
|
2,433,550 |
|
| Schedule of share based payment plans |
| Schedule of share based payment plans |
|
|
|
|
|
|
|
| Grant date |
Vesting rights conditions |
|
Fair value on the grant date |
|
Existing shares |
|
Maximum
remaining life |
| |
|
|
|
|
|
|
|
| April 29, 2025 |
Performance conditions met, 1 to 5 years of service |
|
92.18 |
|
1,190,252 |
|
5 |
| December 19, 2025 |
Performance conditions met, 1 to 5 years of service |
|
129.87 |
|
876,582 |
|
5 |
Restricted shares:
| Grant date |
Vesting rights conditions |
|
Fair value on the grant date |
|
Existing shares |
|
Maximum
remaining life |
| |
|
|
|
|
|
|
|
| April 29, 2025 |
1 to 8 years of service |
92.18 |
|
253,474 |
|
8 |
| December 19, 2025 |
1 to 4 years of service |
129.87 |
|
113,242 |
|
4 |
|