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
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
Net Income	-624.64	-438.89	-451.56	-266.17	-394.23	-1,623
Depreciation & Amortization	219.44	158.28	148.87	164.34	154.77	146.29
Loss (Gain) on Sale of Assets	-	-	-	-	-26.99	-
Loss (Gain) on Sale of Investments	-58.3	-29.63	-24.8	-31.72	-112.61	-10.11
Asset Writedown	60.56	32.52	-29.61	89.23	72.92	89.65
Change in Accounts Receivable	-38.19	-178.29	-81.23	-123.67	-400.44	-220.26
Change in Inventory	-12.3	-3.94	31.71	-29.62	6.62	15.82
Change in Accounts Payable	-160.04	-200.93	-81.55	-18.85	-394.63	29.3
Change in Income Taxes	296.01	273.71	397.99	281.6	905.57	1,390
Change in Other Net Operating Assets	-201.2	-252.71	-471.83	-146.74	-333.92	-77.4
Other Operating Activities	-103.51	-87.24	280.72	432.64	39.53	252.72
Operating Cash Flow	-555.91	-601.99	-197.31	404.09	-416.66	159.69
Capital Expenditures	-	-	-	-	-11.89	-2.81
Sale (Purchase) of Intangibles	-1,104	-788.78	-633.43	-646.76	-433.94	-153.2
Investment in Securities	-189.83	53.29	-279	19.47	-461.86	-
Other Investing Activities	-	-	-	-	46.18	27.78
Investing Cash Flow	-1,294	-735.49	-912.43	-627.29	-861.5	-128.23
Long-Term Debt Issued	-	1,537	2,189	650	2,489	-
Long-Term Debt Repaid	-	-580.42	-1,030	-528.44	-748.74	-144.45
Net Debt Issued (Repaid)	1,985	956.43	1,160	121.56	1,740	-144.45
Issuance of Common Stock	-	-	-	-	-	92.81
Financing Cash Flow	1,985	956.43	1,160	121.56	1,740	-51.64
Net Cash Flow	134.63	-381.06	49.88	-101.63	461.89	-20.18
Free Cash Flow	-555.91	-601.99	-197.31	404.09	-428.55	156.88
Free Cash Flow Margin	-9.12%	-11.27%	-4.12%	9.04%	-8.77%	4.43%
Free Cash Flow Per Share	-8.14	-8.82	-2.89	5.92	-6.28	16.21
Cash Interest Paid	647.34	531.46	530.55	177	32.98	48.58
Cash Income Tax Paid	3.13	-	7.55	-	-	-
Levered Free Cash Flow	-1,416	-903.65	-70.7	-495.3	-1,278	-3,498
Unlevered Free Cash Flow	-1,020	-627.25	156.1	-305.72	-1,132	-2,594
Change in Working Capital	-115.72	-362.15	-204.91	-37.28	-216.8	1,137

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