BMV:PINFRA 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	14,643	9,188	6,037	5,276	5,605
Depreciation & Amortization	961.55	1,079	1,035	1,220	1,078
Loss (Gain) From Sale of Assets	-35.85	-	-	-	-
Asset Writedown & Restructuring Costs	-	-196.02	-90.32	0.23	182.52
Loss (Gain) From Sale of Investments	-	215.82	184.16	310.24	379.99
Loss (Gain) on Equity Investments	-112.17	-141.87	-102.03	-118.11	-63.22
Provision & Write-off of Bad Debts	-	-	-	159.66	-
Other Operating Activities	351.73	3,495	2,145	1,939	1,194
Change in Accounts Receivable	-0.07	-150.32	448.66	0.18	-243.83
Change in Inventory	-10.24	-23.25	-41.29	-143.96	-38.53
Change in Accounts Payable	115.08	69.92	-36.32	27.01	-50.86
Change in Income Taxes	-	-2,770	-2,289	-1,513	-965.33
Change in Other Net Operating Assets	-1,763	-3,104	3,071	2,200	-421.09
Operating Cash Flow	14,150	7,661	10,363	9,357	6,656
Operating Cash Flow Growth	84.69%	-26.07%	10.74%	40.58%	62.04%
Capital Expenditures	-144.12	-1,139	-164.45	-560	-1,269
Cash Acquisitions	-15,378	-	-	-	-
Sale (Purchase) of Intangibles	-3,784	-3,299	-1,195	-1,651	-1,617
Investment in Securities	-	676.45	-2,012	391.21	1,979
Other Investing Activities	9,090	3,999	3,628	2,897	2,114
Investing Cash Flow	-10,217	237.17	257.16	1,077	1,208
Long-Term Debt Issued	-	-	82.95	289.52	242.84
Long-Term Debt Repaid	-810.31	-2,557	-1,512	-1,187	-986.09
Net Debt Issued (Repaid)	-810.31	-2,557	-1,429	-897.98	-743.26
Repurchase of Common Stock	-43.09	-149.51	-294.89	-4,730	-1,557
Common Dividends Paid	-1,916	-1,000	-2,000	-3,000	-2,000
Other Financing Activities	-1,688	-3,536	-3,260	-3,608	-2,412
Financing Cash Flow	-4,458	-7,243	-6,984	-12,237	-6,712
Foreign Exchange Rate Adjustments	11,186	-	-	-	372.83
Net Cash Flow	10,661	655.85	3,636	-1,802	1,525
Free Cash Flow	14,006	6,522	10,198	8,797	5,387
Free Cash Flow Growth	114.75%	-36.05%	15.92%	63.30%	33.27%
Free Cash Flow Margin	69.87%	35.06%	65.66%	61.35%	43.38%
Free Cash Flow Per Share	36.32	15.18	23.74	20.48	12.54
Cash Interest Paid	984.2	2,537	2,234	2,424	1,797
Cash Income Tax Paid	5,751	-	-	-	-
Levered Free Cash Flow	22,291	-990.94	5,663	4,620	-458.71
Unlevered Free Cash Flow	22,997	820.98	7,260	6,506	1,131
Change in Working Capital	-1,659	-5,978	1,153	570.41	-1,720

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