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	2015 - 2019
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	2015 - 2019
Net Income	40.86	110.54	80.35	-17.95	1.53	-41.49	Upgrade
Depreciation & Amortization	26.53	23.03	23.42	21.22	18.26	17.84	Upgrade
Other Amortization	0.16	0.16	0.18	0.44	0.45	-	Upgrade
Loss (Gain) From Sale of Assets	2.85	1.8	-	-	0.32	-8.35	Upgrade
Asset Writedown & Restructuring Costs	-0	-	-	-	-	-3.1	Upgrade
Provision & Write-off of Bad Debts	4.74	2.73	2.95	4.8	2.76	5.35	Upgrade
Other Operating Activities	16.41	-6.37	42.05	19.5	8.31	15.49	Upgrade
Change in Accounts Receivable	18.94	-18.4	58.37	-40.33	-47.66	23.84	Upgrade
Change in Inventory	-26.94	-20.71	20.94	-3.52	-90.34	3.81	Upgrade
Change in Accounts Payable	-6.24	29.37	-91.45	-27.98	65.86	0.63	Upgrade
Change in Income Taxes	-54.8	-60.25	-5.75	16.35	-5.54	1.72	Upgrade
Change in Other Net Operating Assets	0.71	-3.11	-33.5	4.9	2.53	20.63	Upgrade
Operating Cash Flow	23.21	58.78	97.55	-22.56	-43.52	36.37	Upgrade
Operating Cash Flow Growth	-24.23%	-39.74%	-	-	-	2.85%	Upgrade
Capital Expenditures	-38.68	-64.78	-42.68	-24.42	-18.26	-7.09	Upgrade
Sale of Property, Plant & Equipment	2.87	-	0.41	4.46	-	8.69	Upgrade
Investment in Securities	-4.84	-6.71	0.83	4	12.01	-3.75	Upgrade
Other Investing Activities	-	-	-	-	0	-	Upgrade
Investing Cash Flow	-40.65	-71.49	-41.45	-15.96	-6.25	-2.16	Upgrade
Long-Term Debt Issued	-	240.41	296.67	153.77	73.71	82.24	Upgrade
Long-Term Debt Repaid	-	-220.42	-220.9	-141.67	-82.32	-97.68	Upgrade
Net Debt Issued (Repaid)	-14.71	19.99	75.76	12.1	-8.61	-15.44	Upgrade
Other Financing Activities	28.39	-83.34	-66.07	28.24	59.41	-22.75	Upgrade
Financing Cash Flow	13.68	-63.35	9.69	40.34	50.8	-38.19	Upgrade
Net Cash Flow	-3.76	-76.06	65.8	1.82	1.02	-3.98	Upgrade
Free Cash Flow	-15.47	-6	54.87	-46.98	-61.78	29.28	Upgrade
Free Cash Flow Growth	-	-	-	-	-	30.23%	Upgrade
Free Cash Flow Margin	-1.63%	-0.58%	4.92%	-3.83%	-6.47%	4.73%	Upgrade
Free Cash Flow Per Share	-	-0.60	5.49	-4.70	-6.18	2.93	Upgrade
Cash Interest Paid	63.7	63.7	67.56	65.76	34.25	26.13	Upgrade
Levered Free Cash Flow	32.28	-17.37	-25.23	-52.63	13.42	1.7	Upgrade
Unlevered Free Cash Flow	87.9	28.69	16.05	-6.95	34.25	31.25	Upgrade
Change in Working Capital	-68.34	-73.1	-51.4	-50.58	-75.15	50.63	Upgrade

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