BVMF:CEED3 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	2016 - 2020
Period Ending	Jun '25 Jun 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	2016 - 2020
Net Income	-494.61	-438.89	-451.56	-266.17	-394.23	-1,623	Upgrade
Depreciation & Amortization	200.64	158.28	148.87	164.34	154.77	146.29	Upgrade
Loss (Gain) on Sale of Assets	-	-	-	-	-26.99	-	Upgrade
Loss (Gain) on Sale of Investments	-62.25	-29.63	-24.8	-31.72	-112.61	-10.11	Upgrade
Asset Writedown	50.53	32.52	-29.61	89.23	72.92	89.65	Upgrade
Change in Accounts Receivable	-200.72	-178.29	-81.23	-123.67	-400.44	-220.26	Upgrade
Change in Inventory	-12.75	-3.94	31.71	-29.62	6.62	15.82	Upgrade
Change in Accounts Payable	-153.44	-200.93	-81.55	-18.85	-394.63	29.3	Upgrade
Change in Income Taxes	271.97	273.71	397.99	281.6	905.57	1,390	Upgrade
Change in Other Net Operating Assets	-241.06	-252.71	-471.83	-146.74	-333.92	-77.4	Upgrade
Other Operating Activities	-92.82	-87.24	280.72	432.64	39.53	252.72	Upgrade
Operating Cash Flow	-653.17	-601.99	-197.31	404.09	-416.66	159.69	Upgrade
Capital Expenditures	-	-	-	-	-11.89	-2.81	Upgrade
Sale (Purchase) of Intangibles	-954.47	-788.78	-633.43	-646.76	-433.94	-153.2	Upgrade
Investment in Securities	-68.61	53.29	-279	19.47	-461.86	-	Upgrade
Other Investing Activities	-	-	-	-	46.18	27.78	Upgrade
Investing Cash Flow	-1,023	-735.49	-912.43	-627.29	-861.5	-128.23	Upgrade
Long-Term Debt Issued	-	1,537	2,189	650	2,489	-	Upgrade
Long-Term Debt Repaid	-	-580.42	-1,030	-528.44	-748.74	-144.45	Upgrade
Net Debt Issued (Repaid)	1,416	956.43	1,160	121.56	1,740	-144.45	Upgrade
Issuance of Common Stock	-	-	-	-	-	92.81	Upgrade
Financing Cash Flow	1,416	956.43	1,160	121.56	1,740	-51.64	Upgrade
Net Cash Flow	-259.97	-381.06	49.88	-101.63	461.89	-20.18	Upgrade
Free Cash Flow	-653.17	-601.99	-197.31	404.09	-428.55	156.88	Upgrade
Free Cash Flow Margin	-11.13%	-11.27%	-4.12%	9.04%	-8.77%	4.43%	Upgrade
Free Cash Flow Per Share	-9.57	-8.82	-2.89	5.92	-6.28	16.21	Upgrade
Cash Interest Paid	589.55	531.46	530.55	177	32.98	48.58	Upgrade
Cash Income Tax Paid	-	-	7.55	-	-	-	Upgrade
Levered Free Cash Flow	-1,154	-941.33	-33.02	-495.3	-1,278	-3,498	Upgrade
Unlevered Free Cash Flow	-811.04	-664.93	193.77	-305.72	-1,132	-2,594	Upgrade
Change in Working Capital	-336	-362.15	-204.91	-37.28	-216.8	1,137	Upgrade

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