BVMF:CEDO3 Cash Flow Statement

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
Net Income	40.86	110.54	80.35	-17.95	1.53	-41.49
Depreciation & Amortization	26.53	23.03	23.42	21.22	18.26	17.84
Other Amortization	0.16	0.16	0.18	0.44	0.45	-
Loss (Gain) From Sale of Assets	2.85	1.8	-	-	0.32	-8.35
Asset Writedown & Restructuring Costs	-0	-	-	-	-	-3.1
Provision & Write-off of Bad Debts	4.74	2.73	2.95	4.8	2.76	5.35
Other Operating Activities	16.41	-6.37	42.05	19.5	8.31	15.49
Change in Accounts Receivable	18.94	-18.4	58.37	-40.33	-47.66	23.84
Change in Inventory	-26.94	-20.71	20.94	-3.52	-90.34	3.81
Change in Accounts Payable	-6.24	29.37	-91.45	-27.98	65.86	0.63
Change in Income Taxes	-54.8	-60.25	-5.75	16.35	-5.54	1.72
Change in Other Net Operating Assets	0.71	-3.11	-33.5	4.9	2.53	20.63
Operating Cash Flow	23.21	58.78	97.55	-22.56	-43.52	36.37
Operating Cash Flow Growth	-24.23%	-39.74%	-	-	-	2.85%
Capital Expenditures	-38.68	-64.78	-42.68	-24.42	-18.26	-7.09
Sale of Property, Plant & Equipment	2.87	-	0.41	4.46	-	8.69
Investment in Securities	-4.84	-6.71	0.83	4	12.01	-3.75
Other Investing Activities	-	-	-	-	0	-
Investing Cash Flow	-40.65	-71.49	-41.45	-15.96	-6.25	-2.16
Long-Term Debt Issued	-	240.41	296.67	153.77	73.71	82.24
Long-Term Debt Repaid	-	-220.42	-220.9	-141.67	-82.32	-97.68
Net Debt Issued (Repaid)	-14.71	19.99	75.76	12.1	-8.61	-15.44
Other Financing Activities	28.39	-83.34	-66.07	28.24	59.41	-22.75
Financing Cash Flow	13.68	-63.35	9.69	40.34	50.8	-38.19
Net Cash Flow	-3.76	-76.06	65.8	1.82	1.02	-3.98
Free Cash Flow	-15.47	-6	54.87	-46.98	-61.78	29.28
Free Cash Flow Growth	-	-	-	-	-	30.23%
Free Cash Flow Margin	-1.63%	-0.58%	4.92%	-3.83%	-6.47%	4.73%
Free Cash Flow Per Share	-1.55	-0.60	5.49	-4.70	-6.18	2.93
Cash Interest Paid	70.53	63.7	67.56	65.76	34.25	26.13
Levered Free Cash Flow	27.53	-17.37	-25.23	-52.63	13.42	1.7
Unlevered Free Cash Flow	78.34	28.69	16.05	-6.95	34.25	31.25
Change in Working Capital	-68.34	-73.1	-51.4	-50.58	-75.15	50.63

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