B3 Sa Brasil Unsp/Adr (BOLSY) Q4 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.397 Good morning, ladies and gentlemen, and welcome to B3's earnings results presentation 00:00:04.397 -- 00:00:06.940 for the fourth quarter of 2025, 00:00:06.940 -- 00:00:12.087 where André Milanes, B3's CFO, will discuss the results along with Fernando Campos, Investor 00:00:12.087 -- 00:00:16.452 Relations Associate Director. We would like to inform you that all participants will 00:00:16.452 -- 00:00:19.356 be in list and only mode during the company's presentation. 00:00:19.356 -- 00:00:24.002 After the company's remarks are completed, there will be a Q&A section when further instructions 00:00:24.002 -- 00:00:29.721 will be given. As a reminder, this conference is being broadcasted live via webcast. 00:00:29.721 -- 00:00:34.371 The replay will be available after the event is concluded. 00:00:38.050 -- 00:00:42.196 Hello, this is Fernando Campos from B3's Investor Relations team. 00:00:42.196 -- 00:00:46.682 I'm here with our CFO, André Milanes, to discuss the results for the fourth quarter of 00:00:46.682 -- 00:00:52.050 2025. To start, I'll ask André to comment on the extraordinary 00:00:52.050 -- 00:00:58.239 tax effects that marked the quarter and then provide a more general view of the revenues. 00:00:58.239 -- 00:01:03.546 Thank you, Fernando. Starting with the non-recurring tax effect that impacted the company's 00:01:03.546 -- 00:01:08.891 net income for the quarter, First, we had the increase with the increase of the 00:01:08.891 -- 00:01:12.759 social contribution announced at the end of last year. 00:01:12.759 -- 00:01:17.888 We recognized during the fourth quarter a negative accounting impact from 00:01:17.888 -- 00:01:23.058 the update of the deferred taxes related to the tax amortization of 00:01:23.058 -- 00:01:28....