Acerías Paz del Río S. A. 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	-43,523	-54,914	-30,021	42,639	118,180
Depreciation & Amortization	108,296	91,396	100,976	105,223	105,698
Other Amortization	-	-	-	-	381.7
Loss (Gain) From Sale of Assets	575.77	443.3	11.78	1,692	6,206
Provision & Write-off of Bad Debts	-458.87	1,668	-8.74	600.63	417.34
Other Operating Activities	20,624	-12,966	9,436	12,830	75,179
Change in Accounts Receivable	-28,111	27,038	74,084	-69,772	-85,603
Change in Inventory	21,695	21,072	18,604	-26,235	-71,547
Change in Accounts Payable	-22,791	48,130	13,906	-21,298	105,928
Change in Income Taxes	-	-	-	-	10,200
Change in Other Net Operating Assets	43,081	-46,195	-7,220	-32,614	-22,888
Operating Cash Flow	99,387	75,674	179,768	13,066	242,154
Operating Cash Flow Growth	31.34%	-57.90%	1275.86%	-94.60%	-
Capital Expenditures	-63,408	-93,725	-115,753	-64,773	-69,510
Sale (Purchase) of Intangibles	-171.97	-153.76	-414.66	-3,603	-117.3
Other Investing Activities	-155.89	-1,167	-	-	-
Investing Cash Flow	-63,736	-95,046	-116,168	-68,376	-69,627
Long-Term Debt Issued	2,925	408,471	238,727	286,735	63,988
Long-Term Debt Repaid	-38,355	-427,837	-244,399	-263,980	-183,901
Net Debt Issued (Repaid)	-35,430	-19,366	-5,672	22,755	-119,912
Common Dividends Paid	-5.03	-6.59	-44,069	-39,720	-
Financing Cash Flow	-35,435	-19,373	-49,741	-16,965	-119,912
Miscellaneous Cash Flow Adjustments	310.7	-	-	-	-
Net Cash Flow	526.47	-38,745	13,859	-72,275	52,614
Free Cash Flow	35,978	-18,051	64,015	-51,707	172,644
Free Cash Flow Margin	2.56%	-1.26%	4.19%	-3.22%	12.31%
Free Cash Flow Per Share	0.73	-0.36	1.28	-1.04	3.48
Levered Free Cash Flow	-64,043	34,643	29,253	31,487	131,195
Unlevered Free Cash Flow	-20,340	73,354	70,736	55,295	146,843
Change in Working Capital	13,873	50,046	99,374	-149,919	-63,909

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