v3.25.3
Loans, financing and debentures (Tables)
 9 Months Ended
Sep. 30, 2025
Disclosure of detailed information about borrowings [abstract]  
Disclosure of detailed information about borrowings [text block]
CurrentNon-currentTotal
TypeCurrencyInterest rateAverage annual interest rate - %09/30/202512/31/202409/30/202512/31/202409/30/202512/31/2024
In foreign currency
BondsUSDFixed5.0%1,791,638 3,229,641 41,076,515 49,166,804 42,868,153 52,396,445 
Panda BondsCNYFixed2.8%21,805 4,224 895,871 1,016,331 917,676 1,020,555 
Export credits (“export prepayments”)USDSOFR/Fixed5.1%834,064 6,236,806 17,378,400 16,283,736 18,212,464 22,520,542 
Assets financingUSDSOFR3.0%102,469 137,300 198,566 298,252 301,035 435,552 
ECA - Export Credit AgencyUSDSOFR5.6%17,862 7,297 1,718,297 769,702 1,736,159 776,999 
IFC - International Finance Corporation (1)
USDSOFR5.3%(5,708)(12,051)5,006,476 5,858,208 5,000,768 5,846,157 
Others5,831 4,210  4,455 5,831 8,665 
2,767,961 9,607,427 66,274,125 73,397,488 69,042,086 83,004,915 
In local currency
BNDESBRLUMBNDES6.6%3,179 157 456,915 157,555 460,094 157,712 
BNDESBRLTJLP8.6%88,569 100,556 33,754 101,587 122,323 202,143 
BNDESBRLTLP12.9%105,593 94,903 5,208,002 4,607,102 5,313,595 4,702,005 
BNDESBRLSELIC16.2%270,231 243,223 569,258 704,825 839,489 948,048 
BNDESBRLTR4.3%3,899 84 80,725 70,015 84,624 70,099 
Assets financingBRLCDI15.5%18,693 18,427 42,935 56,956 61,628 75,383 
NCE (“Export credit notes”)BRLCDI16.2%4,122 3,027 100,000 100,000 104,122 103,027 
NCR (“Rural producer certificates”)BRLCDI13.6%187,281 312,652 5,000,000 2,000,000 5,187,281 2,312,652 
EcoinvestBRLCDI13.5%12,238 327,022 339,260 
Rural Product Note ("CPR")BRLCDI/IPCA13.8%5,349 1,934,824 1,940,173 
DebenturesBRLCDI/IPCA13.7%322,964 120,931 9,144,566 9,738,616 9,467,530 9,859,547 
1,022,118 893,960 22,898,001 17,536,656 23,920,119 18,430,616 
3,790,079 10,501,387 89,172,126 90,934,144 92,962,205 101,435,531 
Interest on financing1,058,621 1,541,312 1,058,621 1,541,312 
Non-current funding2,731,458 8,960,075 89,172,126 90,934,144 91,903,584 99,894,219 
3,790,079 10,501,387 89,172,126 90,934,144 92,962,205 101,435,531 
(1) The balances shown as negative include fundraising costs
Disclosure of maturity analysis for non-derivative financial liabilities [text block]
202620272028202920302031 onwards Total
In foreign currency
Bonds  2,645,309 9,261,965 5,248,456 23,920,785 41,076,515 
Panda Bonds  895,871     895,871 
Export credits (“export prepayments”)904,858 3,329,057 3,318,701 3,773,879 5,202,918 848,987 17,378,400 
Assets financing25,955 103,353 63,328 5,930   198,566 
ECA - Export Credit Agency      1,718,297 1,718,297 
IFC - International Finance Corporation 268,885 1,368,062 2,226,337 1,143,192 5,006,476 
930,813 4,597,166 7,395,400 15,268,111 11,594,566 26,488,069 66,274,125 
In local currency
BNDES – TJLP22,038 3,700 3,700 3,700 616  33,754 
BNDES – TLP40,873 163,491 160,656 146,481 378,465 4,318,036 5,208,002 
BNDES – Fixed2,443 9,771 9,771 9,771 9,771 415,388 456,915 
BNDES – SELIC70,987 38,162 38,162 38,162 38,162 345,623 569,258 
BNDES – TR1,378 5,734 5,734 5,734 5,734 56,411 80,725 
Ecoinvest   73,617 73,617 179,788 327,022 
Assets financing4,722 19,113 19,033 67   42,935 
NCE (“Export credit notes”) 25,000 25,000 25,000 25,000  100,000 
Rural Product Note ("CPR")     1,934,824 1,934,824 
NCR (“Rural producer certificates”)    2,000,000 3,000,000 5,000,000 
Debentures     549,408 8,595,158 9,144,566 
142,441 264,971 262,056 302,532 3,080,773 18,845,228 22,898,001 
1,073,254 4,862,137 7,657,456 15,570,643 14,675,339 45,333,297 89,172,126 
Schedule of Changes In Loans, Financing and Debentures
09/30/202512/31/2024
Opening balance101,435,531 77,172,692 
Fundraising, net of issuance costs 22,324,556 15,692,905 
Interest accrued 4,399,815 5,413,707 
Monetary and exchange rate variation, net(10,914,087)17,728,324 
Settlement of principal (19,600,013)(9,410,807)
Settlement of interest (4,753,232)(5,241,389)
Amortization of fundraising costs 75,916 80,099 
Others (6,281)
Closing balance92,962,205 101,435,531 
Disclosure of Transaction Costs and Premiums of Securities Issues Explanatory
Balance to be amortized
TypeCostAmortization09/30/202512/31/2024
Bonds422,881 278,737 144,144 168,450 
Rural Product Note ("CPR")65,177  65,177 
Export credits (“export prepayments”)274,830 199,711 75,119 63,080 
Debentures159,675 40,385 119,290 125,663 
BNDES 94,116 58,129 35,987 25,777 
IFC - International Finance Corporation81,956 23,528 58,428 78,719 
Others19,857 1,956 17,901 6,799 
1,118,492 602,446 516,046 468,488