BCBA:TGSU2 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	420,860	486,946	67,369	219,157	40,772
Depreciation & Amortization	201,961	170,574	173,677	132,729	18,721
Loss (Gain) on Sale of Investments	-176,501	-246,522	-571,607	-143,605	-
Loss (Gain) on Equity Investments	-3,728	-320.72	87.08	-611.26	-41.35
Asset Writedown	6,851	-48,425	3,181	652.65	-
Change in Accounts Receivable	-70,314	-158,994	-111,370	-52,982	-10,692
Change in Inventory	-6,700	5,268	-16,717	-4,502	-1,165
Change in Accounts Payable	46,867	40,062	84,096	30,107	5,261
Change in Income Taxes	-185,454	5,459	-27,356	-172,093	-7,715
Change in Unearned Revenue	-10,052	-13,178	56,102	5,569	-906.57
Change in Other Net Operating Assets	-168,724	-82,303	-78,047	-76,219	-15,044
Other Operating Activities	496,600	478,349	963,641	301,951	29,963
Operating Cash Flow	551,667	636,915	543,056	240,154	59,024
Operating Cash Flow Growth	-13.38%	17.28%	126.13%	306.88%	37.14%
Capital Expenditures	-320,463	-381,243	-386,966	-171,619	-18,795
Investment in Securities	-134,031	-125,086	-204,380	-101,097	-40,550
Other Investing Activities	-	-	-	-	354.49
Investing Cash Flow	-454,494	-506,328	-591,346	-272,715	-58,991
Long-Term Debt Issued	887,257	770,028	102,394	41,806	-
Long-Term Debt Repaid	-1,410	-811,267	-31,772	-17,216	-
Net Debt Issued (Repaid)	885,846	-41,239	70,622	24,590	-
Common Dividends Paid	-231,152	-	-	-	-
Other Financing Activities	-	-	-	-	-1,869
Financing Cash Flow	654,694	-41,239	70,622	24,590	-1,869
Foreign Exchange Rate Adjustments	16,198	224.89	4,157	1,984	629.53
Miscellaneous Cash Flow Adjustments	-42,852	-29,583	-34,248	-32,246	-3,848
Net Cash Flow	725,212	59,990	-7,759	-38,234	-5,055
Free Cash Flow	231,204	255,673	156,091	68,536	40,229
Free Cash Flow Growth	-9.57%	63.80%	127.75%	70.36%	28.48%
Free Cash Flow Margin	13.44%	15.93%	12.03%	6.14%	23.21%
Free Cash Flow Per Share	307.14	339.65	207.36	91.05	53.44
Cash Interest Paid	65,025	42,177	45,225	38,824	7,305
Cash Income Tax Paid	186,113	5,250	32,027	174,196	8,360
Levered Free Cash Flow	-33,203	355,271	-72,635	96,845	41,146
Unlevered Free Cash Flow	22,205	401,075	-28,542	125,659	46,585
Change in Working Capital	-394,377	-203,686	-93,293	-270,120	-30,262

Source: S&P Global Market Intelligence. Utility template. Financial Sources.