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Leases | 6 Months Ended
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Jun. 30, 2026
Presentation of leases for lessee [abstract] |
Leases | Leases The Group uses the optional exemption to not recognize a right of use asset and lease liability for short term (less than 12 months) and low value leases. The average discount rate used for measuring lease liabilities was 6.01% p.y. for the six-month period ended June 30, 2026 (5.72% p.y. for the six-month period ended June 30, 2025). 12.1 Right of use asset Changes in the right of use assets:
| Balance at January 1, 2026 |  | Additions (1) |  | Terminated contracts |  | Amortization |  | Exchange rate variation |  | Balance at June 30, 2026
Growing facilities | 652,811 |  |  | 94,541 |  |  | (2,240) |  |  | (71,229) |  |  | 22,974 |  |  | 696,857 |
Buildings | 634,164 |  |  | 47,948 |  |  | (19,823) |  |  | (52,431) |  |  | 10,406 |  |  | 620,264 |
Computer equipment | 14,742 |  |  | (110) |  |  | — |  |  | (2,552) |  |  | 940 |  |  | 13,020 |
Machinery and equipment | 98,983 |  |  | 21,768 |  |  | (3,232) |  |  | (26,269) |  |  | 3,294 |  |  | 94,544 |
Operating plants | 8,110 |  |  | 3,331 |  |  | (517) |  |  | (1,504) |  |  | 418 |  |  | 9,838 |
Land | 18,441 |  |  | 60 |  |  | (99) |  |  | (1,637) |  |  | 363 |  |  | 17,128 |
Vehicles (land) | 186,396 |  |  | 22,233 |  |  | (2,451) |  |  | (38,799) |  |  | 2,817 |  |  | 170,196 |
| 1,613,647 |  |  | 189,771 |  |  | (28,362) |  |  | (194,421) |  |  | 41,212 |  |  | 1,621,847 |
| Balance at January 1, 2025 |  | Additions (1) |  | Terminated contracts |  | Amortization |  | Exchange rate variation |  | Balance at June 30, 2025
Growing facilities | 632,267 |  |  | 75,011 |  |  | (9,650) |  |  | (73,184) |  |  | 43,964 |  |  | 668,408 |
Buildings | 638,981 |  |  | 16,958 |  |  | (12,022) |  |  | (46,953) |  |  | 35,418 |  |  | 632,382 |
Computer equipment | 5,371 |  |  | (66) |  |  | — |  |  | (3,341) |  |  | 536 |  |  | 2,500 |
Machinery and equipment | 106,597 |  |  | 17,001 |  |  | (4,252) |  |  | (26,220) |  |  | 8,944 |  |  | 102,070 |
Operating plants | 8,622 |  |  | 755 |  |  | — |  |  | (1,578) |  |  | 1,112 |  |  | 8,911 |
Land | 15,999 |  |  | 469 |  |  | (81) |  |  | (1,300) |  |  | 370 |  |  | 15,457 |
Vehicles (land) | 189,036 |  |  | 24,523 |  |  | (6,324) |  |  | (34,998) |  |  | 4,953 |  |  | 177,190 |
Concession Agreement | — |  |  | 3,771 |  |  | — |  |  | (1,916) |  |  | 165 |  |  | 2,020 |
| 1,596,873 |  |  | 138,422 |  |  | (32,329) |  |  | (189,490) |  |  | 95,462 |  |  | 1,608,938 |
(1)The additions have been reduce by the tax effect. The tax impact is US$(3,033) and US$(2,590) respectively as of June 30, 2026 and 2025. 12.2 Lease liabilities
| June 30, 2026 |  | December 31, 2025
Undiscounted lease payments | 1,794,217 |  |  | 1,767,285 |
Breakdown: |  |  |
Current liabilities | 368,699 |  |  | 354,887 |
Non-current liabilities | 1,425,518 |  |  | 1,412,398 |
| 1,794,217 |  |  | 1,767,285 |
Changes in the lease liabilities:
| Balance at January 1, 2026 |  | Additions |  | Interest accrual |  | Payments |  | Terminated contracts |  | Exchange rate variation |  | Balance at June 30, 2026
Lease liabilities | 1,767,285 |  |  | 206,473 |  |  | 54,635 |  |  | (246,873) |  |  | (30,365) |  |  | 43,062 |  |  | 1,794,217 |
| Balance at January 1, 2025 |  | Additions |  | Interest accrual |  | Payments |  | Terminated contracts |  | Exchange rate variation |  | Balance at June 30, 2025
Lease liabilities | 1,734,029 |  |  | 153,798 |  |  | 51,043 |  |  | (239,375) |  |  | (40,914) |  |  | 112,188 |  |  | 1,770,769 |
The maturity schedule of the non-current portion of lease liabilities is presented in section d. Liquidity risk of Note 25 - Risk management and financial instruments. The amounts recognized in profit or loss as lease expenses for the six-month periods ended June 30 are presented below:
| 2026 |  | 2025
Variable lease payments | 406,051 |  |  | 282,262 |
Short-term leases | 85,447 |  |  | 77,729 |
Leases of low-value assets | 718 |  |  | 940 |
| 492,216 |  |  | 360,931 |

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