BVMF:CEDO4 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-32.7	110.54	80.35	-17.95	1.53
Depreciation & Amortization	21.12	23.06	23.42	21.22	18.26
Other Amortization	0.22	0.13	0.18	0.44	0.45
Loss (Gain) From Sale of Assets	1.51	1.8	-	-	0.32
Loss (Gain) From Sale of Investments	0.13	-	-	-	-
Loss (Gain) on Equity Investments	12.8	-	-	-	-
Provision & Write-off of Bad Debts	5.14	2.73	2.95	4.8	2.76
Other Operating Activities	16.95	-6.37	42.05	19.5	8.31
Change in Accounts Receivable	36.38	-18.4	58.37	-40.33	-47.66
Change in Inventory	3.08	-20.71	20.94	-3.52	-90.34
Change in Accounts Payable	-23.1	29.37	-91.45	-27.98	65.86
Change in Income Taxes	-19	-60.25	-5.75	16.35	-5.54
Change in Other Net Operating Assets	-4.13	-3.11	-33.5	4.9	2.53
Operating Cash Flow	18.4	58.78	97.55	-22.56	-43.52
Operating Cash Flow Growth	-68.70%	-39.74%	-	-	-
Capital Expenditures	-20.64	-64.78	-42.68	-24.42	-18.26
Sale of Property, Plant & Equipment	2.87	-	0.41	4.46	-
Cash Acquisitions	0.17	-	-	-	-
Investment in Securities	-6.06	-6.71	0.83	4	12.01
Other Investing Activities	-24.53	-	-	-	0
Investing Cash Flow	-48.19	-71.49	-41.45	-15.96	-6.25
Long-Term Debt Issued	165.96	240.41	296.67	153.77	73.71
Long-Term Debt Repaid	-162.85	-220.42	-220.9	-141.67	-82.32
Net Debt Issued (Repaid)	3.11	19.99	75.76	12.1	-8.61
Other Financing Activities	26.18	-83.34	-66.07	28.24	59.41
Financing Cash Flow	29.29	-63.35	9.69	40.34	50.8
Net Cash Flow	-0.51	-76.06	65.8	1.82	1.02
Free Cash Flow	-2.25	-6	54.87	-46.98	-61.78
Free Cash Flow Margin	-0.27%	-0.58%	4.92%	-3.83%	-6.47%
Free Cash Flow Per Share	-0.22	-0.60	5.49	-4.70	-6.18
Cash Interest Paid	65.39	63.7	67.56	65.76	34.25
Levered Free Cash Flow	-8.12	-19.17	-25.23	-52.63	13.42
Unlevered Free Cash Flow	41.84	26.89	16.05	-6.95	34.25
Change in Working Capital	-6.77	-73.1	-51.4	-50.58	-75.15

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