BVMF:COCE5 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	464.91	315.48	640.57	488.59
Depreciation & Amortization	646.21	541.68	408.08	341.07
Asset Writedown	4.57	31.5	22.91	0.35
Change in Accounts Receivable	-161.17	-391.6	-280.7	-488.38
Change in Accounts Payable	163.8	-271.51	-35.7	385.91
Change in Income Taxes	-132.83	-96.02	312.31	161.78
Change in Other Net Operating Assets	689.59	195.63	101.01	-496.76
Other Operating Activities	-108.89	15.8	-397.65	-520.73
Operating Cash Flow	1,748	538.75	897	123.37
Operating Cash Flow Growth	224.55%	-39.94%	627.08%	-87.63%
Capital Expenditures	-55.32	-32.88	-1,980	-1,168
Investment in Securities	97.45	-11.03	-6.25	11.73
Other Investing Activities	-1,496	-1,249	-0.87	-2.52
Investing Cash Flow	-1,454	-1,293	-1,988	-1,159
Long-Term Debt Issued	1,610	3,092	2,530	1,870
Long-Term Debt Repaid	-2,331	-2,030	-1,297	-701.1
Net Debt Issued (Repaid)	-721.02	1,062	1,233	1,169
Issuance of Common Stock	580.58	-	-	-
Common Dividends Paid	-20.86	-173.66	-140.61	-199.5
Other Financing Activities	-15.97	-220.17	-23.25	104.21
Financing Cash Flow	-177.28	667.94	1,069	1,074
Net Cash Flow	117.46	-85.89	-21.76	38.3
Free Cash Flow	1,693	505.87	-1,083	-1,045
Free Cash Flow Growth	234.71%	-	-	-
Free Cash Flow Margin	20.06%	5.87%	-12.64%	-12.88%
Free Cash Flow Per Share	21.75	6.50	-13.91	-13.42
Cash Interest Paid	418.99	408.25	260.12	106.86
Cash Income Tax Paid	-	-	124.1	240.23
Levered Free Cash Flow	1,387	503.86	-571.43	-613.97
Unlevered Free Cash Flow	1,725	859.74	-379.44	-530.11
Change in Working Capital	559.39	-563.5	96.91	-437.44

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.