Azzas 2154 Balance Sheet

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	174.94	181.16	73.32	28.83	33.75	38.3
Short-Term Investments	-	-	-	-	-	522.87
Trading Asset Securities	406.57	593.38	465.53	332.73	121.73	-
Cash & Short-Term Investments	581.51	774.54	538.85	361.56	155.48	561.17
Cash Growth	-24.12%	43.74%	49.04%	132.54%	-72.29%	102.09%
Accounts Receivable	2,577	2,816	1,125	867.58	790.3	598.82
Other Receivables	1,062	886.07	265.61	267.37	142.08	58.03
Receivables	3,639	3,702	1,391	1,135	932.38	656.85
Inventory	2,481	2,219	774.28	772.06	450.49	290.9
Other Current Assets	172.74	135.97	210.87	114.88	108.44	55.95
Total Current Assets	6,874	6,832	2,915	2,383	1,647	1,565
Property, Plant & Equipment	2,139	2,309	890.93	691.58	403.87	316.3
Long-Term Investments	42.42	1.03	-	-	0.4	0.9
Goodwill	1,122	1,336	851.22	737.66	560.9	466.13
Other Intangible Assets	2,428	2,406	710.69	525.76	454.02	363.74
Long-Term Accounts Receivable	11.3	11.46	3.24	0.33	4.28	2.56
Long-Term Deferred Tax Assets	1,577	1,052	193.08	119.27	90.23	81.48
Other Long-Term Assets	1,321	1,307	411.7	201.23	205.85	36.41
Total Assets	15,516	15,254	5,976	4,659	3,366	2,833
Accounts Payable	1,552	1,818	834.46	671.66	574.71	399.19
Accrued Expenses	541.94	638.35	246.7	204.89	156.1	86.6
Short-Term Debt	371.55	361.32	112.95	-	-	-
Current Portion of Long-Term Debt	639.1	1,115	769.26	392.25	496.86	239.48
Current Portion of Leases	226.22	213.15	107.67	89.65	57.02	52.89
Current Income Taxes Payable	36.54	-	2.67	14.3	22.41	6.36
Current Unearned Revenue	1.3	1.3	1.3	-	-	0.16
Other Current Liabilities	256.73	369.96	217.28	262.61	211.9	126.74
Total Current Liabilities	3,626	4,517	2,292	1,635	1,519	911.42
Long-Term Debt	2,052	1,178	198.92	9.62	37.73	394.79
Long-Term Leases	564.92	662.53	407.51	284.89	174.88	160.47
Long-Term Unearned Revenue	2.82	3.79	5.09	-	0.05	0.21
Long-Term Deferred Tax Liabilities	215	245.62	-	3.42	5.44	0.84
Other Long-Term Liabilities	708.4	924.76	143	71.38	37.21	17.06
Total Liabilities	7,169	7,532	3,047	2,005	1,774	1,485
Common Stock	2,317	2,317	1,738	1,672	811.28	967.92
Retained Earnings	1,983	1,163	999.6	814.4	591.48	338.41
Treasury Stock	-167.99	-1.24	-9.92	-0.05	-3.11	-0.19
Comprehensive Income & Other	4,216	4,224	181.65	167.73	190.92	42.45
Total Common Equity	8,348	7,703	2,910	2,654	1,591	1,349
Minority Interest	-	18.86	19.55	0.8	1.43	-
Shareholders' Equity	8,348	7,722	2,929	2,655	1,592	1,349
Total Liabilities & Equity	15,516	15,254	5,976	4,659	3,366	2,833
Total Debt	3,854	3,530	1,596	776.41	766.49	847.63
Net Cash (Debt)	-3,272	-2,756	-1,057	-414.86	-611.01	-286.46
Net Cash Per Share	-16.82	-20.67	-9.30	-3.67	-6.01	-3.11
Filing Date Shares Outstanding	201.71	206.47	110.83	110.2	99.59	99.63
Total Common Shares Outstanding	201.71	206.47	110.83	110.2	99.59	99.63
Working Capital	3,249	2,315	622.77	748.09	127.79	653.45
Book Value Per Share	41.38	37.31	26.25	24.08	15.97	13.54
Tangible Book Value	4,797	3,961	1,348	1,390	575.66	518.73
Tangible Book Value Per Share	23.78	19.19	12.16	12.62	5.78	5.21
Land	-	127.17	-	-	-	0.08
Machinery	-	719.1	294.95	222.82	-	114.23

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.