BVMF:AZTE3 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Net Income	-7.79	-9.85	-38.65
Depreciation & Amortization	3.13	3.87	4.26
Asset Writedown & Restructuring Costs	-	-	53.96
Other Operating Activities	-4.56	-4.68	-21.99
Change in Accounts Receivable	-3.2	-7.73	-
Change in Inventory	0.97	-0.34	-0.21
Change in Accounts Payable	1.04	2.63	1.4
Change in Income Taxes	1.69	1.7	-5.56
Change in Other Net Operating Assets	-25.38	-23.4	35.17
Operating Cash Flow	-34.09	-37.81	28.38
Capital Expenditures	-63.75	-65.77	-223.86
Investing Cash Flow	-63.75	-65.77	-223.86
Long-Term Debt Issued	-	-	2.23
Long-Term Debt Repaid	-	-0.51	-
Net Debt Issued (Repaid)	-5.08	-0.51	2.23
Issuance of Common Stock	103.3	103.3	193.29
Other Financing Activities	0.02	1.94	-
Financing Cash Flow	98.24	104.73	195.51
Net Cash Flow	0.4	1.16	0.04
Free Cash Flow	-97.83	-103.58	-195.48
Free Cash Flow Margin	-2765.23%	-3605.12%	-8893.40%
Free Cash Flow Per Share	-0.40	-0.30	-1.01
Levered Free Cash Flow	-72.32	-73.09	-
Unlevered Free Cash Flow	-70.56	-71.09	-
Change in Working Capital	-24.87	-27.14	30.8

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