BCBA:EDN Cash Flow Statement

Financials in millions ARS. Fiscal year is January - December.

Millions ARS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	239,236	357,981	191,387	-44,014	-41,577
Depreciation & Amortization	210,722	217,293	186,369	130,380	18,620
Loss (Gain) on Sale of Assets	-	-	1,937	2,361	-
Loss (Gain) on Sale of Investments	-81,513	71,954	-73,557	-19,160	-7,728
Loss (Gain) on Equity Investments	-43	17	21	37	-4
Asset Writedown	7,591	5,459	-	-	485
Change in Accounts Receivable	-123,307	-371,255	-64,889	-46,989	-5,236
Change in Inventory	-31,562	-61,057	-24,026	-15,727	-1,650
Change in Accounts Payable	-551,021	414,336	240,352	419,382	35,524
Change in Income Taxes	47,307	33,762	7,149	-3,817	-3,830
Change in Unearned Revenue	27,523	101,275	2,047	13,915	526
Change in Other Net Operating Assets	467,217	-63,137	58,633	-60,401	-226
Other Operating Activities	-43,310	-395,590	-387,358	-134,961	42,860
Operating Cash Flow	192,036	323,500	155,642	240,241	41,586
Operating Cash Flow Growth	-40.64%	107.85%	-35.21%	477.70%	59.04%
Capital Expenditures	-368,467	-473,527	-260,838	-215,144	-28,686
Cash Acquisitions	-33,145	-154	-	-	-
Investment in Securities	-59,937	-272,523	88,670	-37,146	-21,084
Other Investing Activities	-	-	-	-1,065	-
Investing Cash Flow	-461,549	-746,204	-172,168	-253,355	-49,760
Long-Term Debt Issued	694,344	459,516	37,943	29,973	-
Long-Term Debt Repaid	-152,537	-45,510	-16,317	-49,160	-1,058
Net Debt Issued (Repaid)	541,807	414,006	21,626	-19,187	-1,058
Other Financing Activities	-106,728	-65,169	-5,647	-13,107	-1,743
Financing Cash Flow	435,079	348,837	15,979	-32,294	-2,801
Foreign Exchange Rate Adjustments	17,913	6,774	9,821	14,736	-
Miscellaneous Cash Flow Adjustments	-854	-560	-451	-176	4,333
Net Cash Flow	182,625	-67,653	8,823	-30,848	-6,642
Free Cash Flow	-176,431	-150,027	-105,196	25,097	12,900
Free Cash Flow Growth	-	-	-	94.55%	14.25%
Free Cash Flow Margin	-5.90%	-5.58%	-6.89%	1.80%	5.83%
Free Cash Flow Per Share	-201.63	-171.46	-120.22	28.68	14.74
Cash Interest Paid	92,092	40,389	4,044	6,076	1,743
Levered Free Cash Flow	-571,697	-347,870	-1,258,935	274,781	38,405
Unlevered Free Cash Flow	-380,733	-73,265	-824,940	646,180	71,184
Change in Working Capital	-163,843	53,924	219,266	306,363	25,108

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.