BVMF:CLSC4 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	729.5	715.8	557.03	540.56	563.17
Depreciation & Amortization	382.46	347.23	312.94	274.93	243.55
Other Amortization	0.22	0.19	0.19	0.19	0.18
Loss (Gain) on Sale of Assets	89.48	79.95	56.72	61.22	-
Loss (Gain) on Equity Investments	-50.09	-65.57	-57.12	-79.35	-72.68
Asset Writedown	-7.63	-29.96	-17.68	-11.69	154.35
Change in Accounts Receivable	-571.54	-453.04	-278.56	120.24	-70.93
Change in Inventory	-	-	-3.25	-6.46	-1.24
Change in Accounts Payable	9.44	-96.38	72.58	-71.67	-136.36
Change in Income Taxes	87.45	72.17	390.57	-434.03	-328.86
Change in Other Net Operating Assets	-826.62	-630.51	-971.01	42.8	-43.18
Other Operating Activities	259.47	147.8	293.95	358.06	8.06
Operating Cash Flow	176.82	281.69	450.29	867.92	378.28
Operating Cash Flow Growth	-37.23%	-37.44%	-48.12%	129.44%	-58.58%
Capital Expenditures	-29.07	-34.24	-53.16	-13.8	-641.21
Sale (Purchase) of Intangibles	-0.49	-	-0.02	-0.04	-
Investment in Securities	71.81	-	-0.15	-18.71	-3.33
Other Investing Activities	-1,115	-920.81	-956.34	-976.38	31.3
Investing Cash Flow	-1,072	-955.05	-1,010	-1,009	-613.24
Long-Term Debt Issued	1,230	1,238	337.66	610	1,077
Long-Term Debt Repaid	-576.12	-239	-420.38	-229.03	-1,041
Net Debt Issued (Repaid)	654.07	999.42	-82.73	380.97	35.85
Common Dividends Paid	-288.56	-211.37	-179.47	-143.27	-123
Other Financing Activities	-70.5	-1.4	787.09	-0.1	-
Financing Cash Flow	295.01	786.65	524.9	237.6	-87.16
Net Cash Flow	-600.67	113.29	-34.49	96.6	-322.12
Free Cash Flow	147.75	247.45	397.13	854.12	-262.93
Free Cash Flow Growth	-40.29%	-37.69%	-53.50%	-	-
Free Cash Flow Margin	1.24%	2.32%	3.82%	8.63%	-2.32%
Free Cash Flow Per Share	3.83	6.42	10.30	22.14	-6.82
Cash Interest Paid	477.13	356.28	335.93	304.1	117.94
Cash Income Tax Paid	104.3	180.37	41.47	10.91	168.29
Levered Free Cash Flow	296.7	-123.33	751.08	895.05	320.89
Unlevered Free Cash Flow	479.48	23.37	910.58	1,046	456.01
Change in Working Capital	-1,301	-1,108	-789.67	-349.12	-580.58

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