BVMF:COCE3 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	294.21	464.91	315.48	640.57	488.59	265.18
Depreciation & Amortization	744.94	646.21	541.68	408.08	341.07	313.23
Asset Writedown	-6.07	4.57	31.5	22.91	0.35	4.4
Change in Accounts Receivable	-109.37	-161.17	-391.6	-280.7	-488.38	-313.1
Change in Accounts Payable	615.97	163.8	-271.51	-35.7	385.91	157.83
Change in Income Taxes	-247.87	-132.83	-96.02	312.31	161.78	72.44
Change in Other Net Operating Assets	197.11	689.59	195.63	101.01	-496.76	525.16
Other Operating Activities	85.55	-108.89	15.8	-397.65	-520.73	-149.96
Operating Cash Flow	1,706	1,748	538.75	897	123.37	997.63
Operating Cash Flow Growth	33.41%	224.55%	-39.94%	627.08%	-87.63%	63.67%
Capital Expenditures	-41.18	-55.32	-32.88	-1,980	-1,168	-974.13
Investment in Securities	102.94	97.45	-11.03	-6.25	11.73	-15.34
Other Investing Activities	-1,780	-1,496	-1,249	-0.87	-2.52	-4.62
Investing Cash Flow	-1,719	-1,454	-1,293	-1,988	-1,159	-994.1
Long-Term Debt Issued	-	1,610	3,092	2,530	1,870	533.08
Long-Term Debt Repaid	-	-2,331	-2,030	-1,297	-701.1	-434.07
Net Debt Issued (Repaid)	0.76	-721.02	1,062	1,233	1,169	99.01
Issuance of Common Stock	-	580.58	-	-	-	-
Common Dividends Paid	-20.86	-20.86	-173.66	-140.61	-199.5	-90.22
Other Financing Activities	81.34	-15.97	-220.17	-23.25	104.21	62.09
Financing Cash Flow	61.24	-177.28	667.94	1,069	1,074	70.88
Net Cash Flow	49.07	117.46	-85.89	-21.76	38.3	74.41
Free Cash Flow	1,665	1,693	505.87	-1,083	-1,045	23.5
Free Cash Flow Growth	36.13%	234.71%	-	-	-	-
Free Cash Flow Margin	18.82%	20.06%	5.87%	-12.64%	-12.88%	0.39%
Free Cash Flow Per Share	19.78	21.75	6.50	-13.91	-13.42	0.30
Cash Interest Paid	300.22	418.99	408.25	260.12	106.86	90.49
Cash Income Tax Paid	80.04	-	-	124.1	240.23	118.74
Levered Free Cash Flow	1,923	1,387	503.86	-571.43	-613.97	-383.52
Unlevered Free Cash Flow	2,347	1,725	859.74	-379.44	-530.11	-151.72
Change in Working Capital	455.83	559.39	-563.5	96.91	-437.44	442.33

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