v3.25.4
EQUITY (Tables)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2023
Disclosure of classes of share capital [abstract]    
Schedule of distribution of capital
The subscribed and paid-in share capital was R$60,071,416 and R$62,071,416 as of December 31, 2025 and 2024, respectively, represented by shares, all common, book-entry and without par value, distributed as follows:
12.31.202512.31.2024
ShareholdersNumber%Number (Adjusted)%
Controlling Group2,488,480,640 77.13%2,488,480,640 76.30%
Telefónica, S.A.1,268,797,680 39.33%1,268,797,680 38.90%
Telefónica Latinoamérica Holding, S.L.1,217,810,000 37.74%1,217,810,000 37.34%
Telefónica Móviles Chile, S.A.1,872,960 0.06%1,872,960 0.06%
Other shareholders (Free Float)707,125,712 21.91%764,884,568 23.46%
Treasury Shares30,940,270 0.96%7,922,184 0.24%
Total shares3,226,546,622 100.00%3,261,287,392 100.00%
Treasury Shares(30,940,270)(7,922,184)
Total shares outstanding3,195,606,352 3,253,365,208 
Book value per outstanding share:
On 12.31.2025R$21.51
On 12.31.2024 - AdjustedR$21.43
  
Schedule of treasury shares
Below, we present the movements of treasury shares, described in items c) and d) of this Note.
Number of sharesValues
Capital reservesIncome reservesTotalCapital reservesIncome reservesTotal
Equity on December 31, 2023 (adjusted)8,712 — 8,712 (194)— (194)
Share buybacks (adjusted)— 51,802,800 51,802,800 — (1,299,583)(1,299,583)
Share cancellations (adjusted)— (43,889,328)(43,889,328)— 1,099,584 1,099,584 
Equity on December 31, 2024 (adjusted)8,712 7,913,472 7,922,184 (194)(199,999)(200,193)
Share buybacks— 57,758,856 57,758,856 — (1,746,480)(1,746,480)
Share cancellations(1,122)(34,739,648)(34,740,770)30 928,892 928,922 
Equity on December 31, 20257,590 30,932,680 30,940,270 (164)(1,017,587)(1,017,751)
  
Schedule of allocation of interim dividends and interest on equity
At meetings of the Company's Board of Directors, interest on equity was declared, in accordance with article 26 of the Company's Bylaws, article 9 of Law No. 9,249/1995 and CVM Resolution No. 143/2022. As provided for in article 26 of the Company's Bylaws, such interest will be attributed to the mandatory dividend for the year ending on December 31, 2025, ad referendum of the Shareholders' AGM to be held in 2026, as follows:
Dates
DeliberationCreditPayment dateGross AmountNet ValueAmount per Share, Net
02.13.202502.24.202512.02.2025180,000 153,000 0.04714626133 
03.13.202503.24.202512.02.2025200,000 170,000 0.05246778188 
04.01.202504.11.202504.30.2026240,000 204,000 0.06296133934 
05.12.202505.22.202504.30.2026500,000 425,000 0.13116945695 
06.12.202506.23.202504.30.2026200,000 170,000 0.05264314492 
07.14.202507.25.202504.30.2026330,000 280,500 0.08715426995 
08.14.202508.25.202504.30.2026250,000 212,500 0.06624319750 
09.11.202509.22.202504.30.2026400,000 340,000 0.10608541339 
10.14.202510.27.202504.30.2026380,000 323,000 0.10078114272 
11.13.202511.24.202504.30.2026340,000 289,000 0.09035622247 
12.16.202512.29.202504.30.2026350,000 297,500 0.09309657299 
Total3,370,000 2,864,500 
In 2024
At the Annual General Meeting held on April 25, 2025, the administrators' accounts were approved, and the Management Report and Financial Statements, accompanied by the Independent Auditors' Report, the Audit and Control Committee's Opinion, and the Fiscal Council's Opinion, relating to the fiscal year ended December 31, 2024, as well as the proposal for the allocation of the result of said fiscal year 2024, were examined, discussed and voted on.
During the 2024 fiscal year, the Company allocated interim interest on equity, which was imputed to mandatory dividends, as follows:
Dates
DeliberationCreditPayment dateGross AmountNet ValueAmount per Share, Net
03.14.202403.28.202412.17.2024300,000 255,000 0.07715190253 
04.16.202404.29.202412.17.2024380,000 323,000 0.09779002985 
06.14.202406.26.202412.17.2024175,000 148,750 0.04514626499 
07.15.202407.26.202404.30.2025650,000 552,500 0.16814026479 
08.14.202408.26.202404.30.2025400,000 340,000 0.10376995616 
12.12.202412.26.202404.30.20251,200,000 1,020,000 0.31352151843 
Total3,105,000 2,639,250 
  
Schedule of calculation of dividends and interest on equity
The table below shows the calculation of dividends and interest on equity for 2025 and 2024:
20252024
Net income for the year6,167,906 5,547,948 
(-) Allocation to legal reserve(308,395)(277,397)
(-) Tax incentives – not distributable(7,559)(113,352)
Adjusted net income5,851,952 5,157,199 
IOE allocated for the year (gross) (3,370,000)(3,105,000)
Interim interest on equity (gross) (3,370,000)(3,105,000)
Unallocated net profit balance2,481,952 2,052,199 
(+) Unclaimed dividends and interest on equity150,553 126,977 
(+) Actuarial gains recognized and effect of limitation of surplus plan assets, net of taxes and other changes10,157 367,299 
(-) Share buyback and cancellation - share buyback programs— (1,099,584)
Income available for allocation2,642,662 1,446,891 
Proposal for allocation:
Reserve for shareholder remuneration and investments2,642,662 1,446,891 
Total2,642,662 1,446,891 
Mandatory minimum dividend – 25% of adjusted net income1,462,988 1,289,300 
  
Schedule of changes in equity valuation adjustment  
The changes in equity valuation adjustments, net of gains or losses and of taxes, when applicable, were as follows:
Currency translation effects – foreign investmentsFinancial assets at fair value through other comprehensive incomeDerivative transactionsTotal
Balance on December 31, 202356,576 (9,274)(593)46,709 
Translation losses24,566 — — 24,566 
Losses from derivatives— — 593 593 
Losses on financial assets at fair value through other comprehensive income— (13)— (13)
Balance on December 31, 202481,142 (9,287)— 71,855 
Translation gains813 — 813 
Losses from derivatives— — (47,595)(47,595)
Losses on financial assets at fair value through other comprehensive income— (20)— (20)
Balance on December 31, 202581,955 (9,307)(47,595)25,053 
Schedule of consolidated information presented the amounts of interest held by controlling and non-controlling shareholders
IoTCo BrasilVivo VenturesFiBrasilCloudCo BrasilTotal
Equity on December 31, 202396,607 43,055 — 22,746 162,408 
Company48,313 42,195 — 11,375 101,883 
Non-controlling shareholders48,294 860 — 11,371 60,525 
Company6,316 92,651 — 1,184 100,151 
Capital contributions in investees— 97,449 — — 97,449 
Movements in equity(2,001)— — 15 (1,986)
Movements in the statements of income8,317 (4,798)— 1,169 4,688 
Non-controlling shareholders6,313 1,892 — 1,183 9,388 
Capital contributions in investees— 1,990 — — 1,990 
Movements in equity(2,000)— — 14 (1,986)
Movements in the statements of income8,313 (98)— 1,169 9,384 
Equity on December 31, 2024109,236 137,598 — 25,113 271,947 
Company54,629 134,846 — 12,559 202,034 
Non-controlling shareholders54,607 2,752 — 12,554 69,913 
Company(54,629)109,803 1,233,653 62,635 1,351,462 
Capital contributions in investees— 89,828 — — 89,828 
Business combination - FiBrasil - Fair Value— — 1,230,252 — 1,230,252 
Movements in equity— — 15 (100)(85)
Movements in result1,490 19,975 3,386 6,616 31,467 
Merger of IoTCo Brasil by CloudCo Brasil(56,119)— — 56,119 — 
Non-controlling shareholders(54,607)2,241 200,829 62,607 211,070 
Capital contributions in investees— 1,833 — — 1,833 
Business combination - FiBrasil - Fair Value— — 199,695 — 199,695 
Movements in equity— — 5 (100)(95)
Movements in result1,489 408 1,129 6,611 9,637 
Merger of IoTCo Brasil by CloudCo Brasil(56,096)— — 56,096 — 
Equity on December 31, 2025— 249,642 1,434,482 150,355 1,834,479 
Company— 244,649 1,233,653 75,194 1,553,496 
Non-controlling shareholders— 4,993 200,829 75,161 280,983 
  
Schedule of calculation of earnings per share
Basic and diluted earnings per share were calculated by dividing profit attributed to the Company's shareholders by the weighted average number of outstanding common and preferred shares. The Company does not hold any potential dilutive shares outstanding that could result in the dilution of earnings per share.
202520242023
Net profit for the year attributed to shareholders holding shares6,167,906 5,547,948 5,029,389 
Weighted average of common shares outstanding (in thousands) - (2024 and 2023 - adjusted)3,223,658 3,286,264 3,317,207 
Basic and diluted results per common share (R$) - (2024 and 2023 - adjusted)1.91 1.69 1.52