​

​

​

​

​

​

​

  ​ ​ ​

Total

Balance as of January 1, 2023

3,896,518

Equity in earnings

​

827,606

Cumulative Translation Adjustment

176,214

Capital increase

524,185

Conversion of intercompany loan into equity interest

​

141,070

Negative goodwill in acquisition of equity interest

​

11,195

Presentation as Assets held for sale

​

(1,210,041)

Shares repurchase

​

(47,006)

Dividends/Interest on equity

​

(461,292)

Balance as of December 31, 2023

​

3,858,449

Equity in earnings

​

464,467

Cumulative Translation Adjustment

130,946

Capital increase

184,947

Additional share purchase

​

7,000

Dividends/Interest on equity

​

(414,653)

Other transactions

​

(8,839)

Balance as of December 31, 2024

​

4,222,317

Equity in earnings

​

95,622

Cumulative Translation Adjustment

22,101

Capital increase

91,436

Acquisition of company control (Note 3.4)

​

25,846

Disposal in acquisition of company control

​

(277,521)

Dividends/Interest on equity

​

(235,327)

Balance as of December 31, 2025

​

3,944,474