Companhia Estadual de Distribuição de Energia Elétrica (BVMF:CEED3)

BVMF:CEED3 Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-704.58	-438.89	-451.56	-266.17	-394.23
Depreciation & Amortization	272.56	158.28	148.87	164.34	154.77
Loss (Gain) on Sale of Assets	-	-	-	-	-26.99
Loss (Gain) on Sale of Investments	-59	-29.63	-24.8	-31.72	-112.61
Asset Writedown	42.5	32.52	-29.61	89.23	72.92
Change in Accounts Receivable	-177.17	-178.29	-81.23	-123.67	-400.44
Change in Inventory	-19.34	-3.94	31.71	-29.62	6.62
Change in Accounts Payable	154.54	-200.93	-81.55	-18.85	-394.63
Change in Income Taxes	191.57	273.71	397.99	281.6	905.57
Change in Other Net Operating Assets	-353.27	-252.71	-471.83	-146.74	-333.92
Other Operating Activities	-54.41	-87.24	280.72	432.64	39.53
Operating Cash Flow	-672.53	-601.99	-197.31	404.09	-416.66
Capital Expenditures	-	-	-	-	-11.89
Sale (Purchase) of Intangibles	-1,250	-788.78	-633.43	-646.76	-433.94
Investment in Securities	-71.41	53.29	-279	19.47	-461.86
Other Investing Activities	-	-	-	-	46.18
Investing Cash Flow	-1,321	-735.49	-912.43	-627.29	-861.5
Long-Term Debt Issued	4,404	1,537	2,189	650	2,489
Long-Term Debt Repaid	-2,028	-580.42	-1,030	-528.44	-748.74
Net Debt Issued (Repaid)	2,376	956.43	1,160	121.56	1,740
Financing Cash Flow	2,376	956.43	1,160	121.56	1,740
Net Cash Flow	382.14	-381.06	49.88	-101.63	461.89
Free Cash Flow	-672.53	-601.99	-197.31	404.09	-428.55
Free Cash Flow Margin	-10.78%	-11.27%	-4.12%	9.04%	-8.77%
Free Cash Flow Per Share	-9.85	-8.82	-2.89	5.92	-6.28
Cash Interest Paid	-	531.46	530.55	177	32.98
Cash Income Tax Paid	-	-	7.55	-	-
Levered Free Cash Flow	-2,204	-903.65	-70.7	-495.3	-1,278
Unlevered Free Cash Flow	-996	-627.25	156.1	-305.72	-1,132
Change in Working Capital	-203.68	-362.15	-204.91	-37.28	-216.8

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