BVC:INESA Cash Flow Statement

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

Millions COP. 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	5,960	7,898	8,123	12,050	7,408
Depreciation & Amortization	630.63	544.08	111.11	40.56	15.86
Asset Writedown & Restructuring Costs	1,001	1,088	762.15	-1,345	-
Loss (Gain) on Equity Investments	-2,947	-3,329	-3,139	-4,419	-
Other Operating Activities	2,525	3,034	3,591	3,336	1,722
Change in Accounts Receivable	143.05	-41.12	259.86	-1,326	-
Change in Inventory	300.29	-594.33	-211.78	53.08	-1,676
Change in Accounts Payable	23.26	1.55	106.2	-76.53	13.39
Change in Income Taxes	-3,327	-3,589	-3,612	-1,587	-775.44
Change in Other Net Operating Assets	-139.24	104.25	-224.18	737.86	-282.63
Operating Cash Flow	4,170	5,118	5,767	7,464	6,425
Operating Cash Flow Growth	-18.52%	-11.26%	-22.75%	16.17%	120.03%
Capital Expenditures	-10,933	-6,520	-1,494	-802.16	-
Sale of Property, Plant & Equipment	-	-	-	-	1,587
Sale (Purchase) of Real Estate	-5,496	6,106	-	-	-440.38
Investment in Securities	-4,400	2,080	34.79	2,094	-2,756
Other Investing Activities	-	-	1,564	3,819	-
Investing Cash Flow	-20,829	1,667	105.36	5,111	-1,609
Long-Term Debt Issued	40.84	-	-	1,678	-
Total Debt Issued	40.84	-	-	1,678	-
Long-Term Debt Repaid	-	-423.97	-284.4	-	-
Net Debt Issued (Repaid)	40.84	-423.97	-284.4	1,678	-
Common Dividends Paid	-4,930	-6,081	-5,000	-11,279	-4,009
Other Financing Activities	21,810	261.02	416.89	-1,662	349.36
Financing Cash Flow	16,921	-6,244	-4,868	-11,263	-3,660
Net Cash Flow	261.85	540.88	1,004	1,312	1,156
Free Cash Flow	-6,763	-1,402	4,273	6,662	6,425
Free Cash Flow Growth	-	-	-35.86%	3.69%	121.72%
Free Cash Flow Margin	-61.04%	-10.87%	32.92%	42.82%	61.92%
Free Cash Flow Per Share	-67.65	-14.02	42.74	66.64	64.27
Cash Income Tax Paid	-	-	-3,591	-3,336	-
Levered Free Cash Flow	-7,874	-1,874	4,041	6,968	4,488
Unlevered Free Cash Flow	-7,868	-1,868	4,187	6,976	4,488
Change in Working Capital	-3,000	-4,118	-3,682	-2,198	-2,720

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