BVMF:CEDO4 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	-55.52	-32.7	110.54	80.35	-17.95	1.53
Depreciation & Amortization	22.09	21.12	23.06	23.42	21.22	18.26
Other Amortization	0.16	0.22	0.13	0.18	0.44	0.45
Loss (Gain) From Sale of Assets	1.87	1.51	1.8	-	-	0.32
Loss (Gain) From Sale of Investments	0.13	0.13	-	-	-	-
Loss (Gain) on Equity Investments	12.8	12.8	-	-	-	-
Provision & Write-off of Bad Debts	6.12	5.14	2.73	2.95	4.8	2.76
Other Operating Activities	-6.24	16.95	-6.37	42.05	19.5	8.31
Change in Accounts Receivable	32.06	36.38	-18.4	58.37	-40.33	-47.66
Change in Inventory	19.61	3.08	-20.71	20.94	-3.52	-90.34
Change in Accounts Payable	8.78	-23.1	29.37	-91.45	-27.98	65.86
Change in Income Taxes	12.82	-19	-60.25	-5.75	16.35	-5.54
Change in Other Net Operating Assets	-1.95	-4.13	-3.11	-33.5	4.9	2.53
Operating Cash Flow	52.74	18.4	58.78	97.55	-22.56	-43.52
Operating Cash Flow Growth	68.62%	-68.70%	-39.74%	-	-	-
Capital Expenditures	-19.49	-20.64	-64.78	-42.68	-24.42	-18.26
Sale of Property, Plant & Equipment	2.87	2.87	-	0.41	4.46	-
Cash Acquisitions	0.17	0.17	-	-	-	-
Investment in Securities	-7.02	-6.06	-6.71	0.83	4	12.01
Other Investing Activities	-24.53	-24.53	-	-	-	0
Investing Cash Flow	-47.99	-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)	-35.94	3.11	19.99	75.76	12.1	-8.61
Other Financing Activities	30.08	26.18	-83.34	-66.07	28.24	59.41
Financing Cash Flow	-6.04	29.29	-63.35	9.69	40.34	50.8
Net Cash Flow	-1.29	-0.51	-76.06	65.8	1.82	1.02
Free Cash Flow	33.25	-2.25	-6	54.87	-46.98	-61.78
Free Cash Flow Margin	4.22%	-0.27%	-0.58%	4.92%	-3.83%	-6.47%
Free Cash Flow Per Share	3.32	-0.22	-0.60	5.49	-4.70	-6.18
Cash Interest Paid	48.91	65.39	63.7	67.56	65.76	34.25
Levered Free Cash Flow	39.88	-8.12	-19.17	-25.23	-52.63	13.42
Unlevered Free Cash Flow	94.6	41.84	26.89	16.05	-6.95	34.25
Change in Working Capital	71.33	-6.77	-73.1	-51.4	-50.58	-75.15

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