Bradespar 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	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	782.17	546.99	1,192	1,897	3,728	8,079
Loss (Gain) From Sale of Assets	-	-	-	-	-0.03	-
Loss (Gain) on Equity Investments	-809.64	-571.26	-1,188	-1,894	-3,698	-8,081
Other Operating Activities	-19.64	-19.06	-12.61	-10.86	-20.56	-5.01
Change in Income Taxes	-54.28	-54.54	-37.18	-32.62	-30.67	-24.37
Change in Other Net Operating Assets	890.85	767.88	835.44	1,030	1,284	4,283
Operating Cash Flow	789.46	670.02	790.04	989.17	1,262	4,252
Operating Cash Flow Growth	5.61%	-15.19%	-20.13%	-21.60%	-70.33%	334.57%
Capital Expenditures	-	-	-1.1	-0	-0.2	-
Sale of Property, Plant & Equipment	-	-	-	-	0.07	-
Investing Cash Flow	-	-	-1.1	-0	-0.13	-
Common Dividends Paid	-1,245	-939.56	-747.2	-1,152	-1,145	-4,020
Financing Cash Flow	-1,245	-939.56	-747.2	-1,152	-1,145	-4,020
Net Cash Flow	-455.2	-269.55	41.75	-162.5	116.25	232.15
Free Cash Flow	789.46	670.02	788.94	989.16	1,262	4,252
Free Cash Flow Growth	5.61%	-15.07%	-20.24%	-21.59%	-70.34%	334.57%
Free Cash Flow Per Share	-	1.70	2.01	2.52	3.21	10.82
Cash Income Tax Paid	54.54	54.54	37.18	32.62	30.67	24.37
Levered Free Cash Flow	-142.35	-309.77	-41.83	-327.67	260.12	327.45
Unlevered Free Cash Flow	-142.35	-309.77	-41.83	-327.67	260.12	328.02
Change in Working Capital	836.57	713.34	798.26	997.5	1,253	4,259