Grupo Herdez Cash Flow Statement

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

Millions MXN. 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	1,786	1,360	1,320	776.62	725.73
Depreciation & Amortization	981.45	1,170	1,132	1,054	903.15
Other Amortization	59.6	79.62	61.23	58.03	34.14
Loss (Gain) From Sale of Assets	2.11	42.27	48.71	-7.78	4.38
Loss (Gain) From Sale of Investments	-	-	-	-37.09	-
Loss (Gain) on Equity Investments	-654	-408.98	-771.9	-466.07	-803.1
Other Operating Activities	2,636	2,334	3,140	2,148	2,212
Change in Accounts Receivable	-856.69	307.18	-373.09	303.02	-911.67
Change in Inventory	-802.4	-350.87	494.92	-643.88	-1,460
Change in Accounts Payable	47.46	500.84	367.99	1,382	997.41
Change in Other Net Operating Assets	14.97	737.18	-400.81	-307.1	-388.05
Operating Cash Flow	3,215	5,771	5,019	4,260	1,314
Operating Cash Flow Growth	-44.29%	14.99%	17.82%	224.10%	-53.59%
Capital Expenditures	-916.89	-678.31	-612.31	-788.82	-722.47
Sale of Property, Plant & Equipment	32.2	-	13.86	62.64	55.37
Cash Acquisitions	-	-	-	-562.35	-
Sale (Purchase) of Intangibles	-436.57	-344.68	-287.7	-280.98	-260.85
Investment in Securities	-2	-165.74	-69.81	33.79	-99.35
Other Investing Activities	820.11	705.12	1,057	989.63	1,043
Investing Cash Flow	-503.16	-483.61	100.91	-546.09	15.29
Long-Term Debt Issued	4,194	1,000	2,000	4,475	1,650
Long-Term Debt Repaid	-4,233	-1,548	-3,480	-4,415	-1,528
Net Debt Issued (Repaid)	-39.21	-547.54	-1,480	60.02	121.96
Repurchase of Common Stock	-19.12	-394.79	-223.27	-420.63	-757.01
Common Dividends Paid	-2,581	-487.15	-399.51	-409.52	-430.41
Other Financing Activities	-913.67	-2,639	-3,373	-2,723	-1,742
Financing Cash Flow	-3,553	-4,068	-5,476	-3,493	-2,807
Foreign Exchange Rate Adjustments	-	81.59	-63.32	-30.89	13.16
Net Cash Flow	-840.74	1,301	-419.65	189.73	-1,464
Free Cash Flow	2,298	5,093	4,406	3,471	591.85
Free Cash Flow Growth	-54.87%	15.57%	26.96%	486.45%	-74.07%
Free Cash Flow Margin	5.96%	13.61%	12.17%	10.97%	2.26%
Free Cash Flow Per Share	7.14	15.70	13.29	10.18	1.65
Cash Interest Paid	919.71	971.17	1,037	987.18	761.94
Cash Income Tax Paid	2,163	2,427	1,660	1,628	1,270
Levered Free Cash Flow	1,047	4,312	3,605	2,380	301.99
Unlevered Free Cash Flow	1,659	4,988	4,277	3,037	832.3
Change in Working Capital	-1,597	1,194	89.01	734.28	-1,762

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