BVMF:CURY3 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	975.54	649.84	481.77	329.89	299.75
Depreciation & Amortization	34.88	31.13	25.87	23.6	21.09
Loss (Gain) From Sale of Assets	-	1.35	-	-	-40.44
Loss (Gain) on Equity Investments	-7.39	-8.54	-1.65	-0.38	-0.93
Provision & Write-off of Bad Debts	28.22	22.24	4.77	-0.44	1.56
Other Operating Activities	260.8	140.79	106.11	121.56	87.41
Change in Accounts Receivable	-879.11	-403.53	-196.23	-239.66	-544.23
Change in Inventory	672.12	470.12	394.05	214.32	300.74
Change in Accounts Payable	66.44	15.41	57.31	27.1	43.58
Change in Unearned Revenue	148.91	82.35	62.08	68.87	235.57
Change in Income Taxes	24.94	3.79	-3.53	-6.79	-2.66
Change in Other Net Operating Assets	-659.12	-577.32	-508.69	-216.37	-127.74
Operating Cash Flow	747.05	479.56	455.9	347.37	285.21
Operating Cash Flow Growth	55.78%	5.19%	31.25%	21.80%	60.16%
Capital Expenditures	-34.48	-37.64	-36.18	-18.76	-31.7
Sale (Purchase) of Real Estate	-	66	-0.92	-7.39	-
Investment in Securities	8.37	-90.07	-132.23	-14.86	-84.82
Investing Cash Flow	-26.11	-61.71	-169.33	-41.01	-116.52
Long-Term Debt Issued	734.37	837.02	322.95	161.35	265.17
Long-Term Debt Repaid	-316.81	-431.35	-191.97	-79.54	-162.65
Net Debt Issued (Repaid)	417.56	405.67	130.98	81.81	102.52
Issuance of Common Stock	633.42	-	-	-	-
Repurchase of Common Stock	-	-	-	-12.09	-0.12
Common Dividends Paid	-1,352	-483.54	-328.35	-150	-165
Other Financing Activities	-39.41	-8.39	-7.84	-39.77	-21.25
Financing Cash Flow	-340.77	-86.26	-205.21	-120.05	-83.85
Net Cash Flow	380.17	331.59	81.37	186.3	84.84
Free Cash Flow	712.57	441.92	419.72	328.6	253.5
Free Cash Flow Growth	61.24%	5.29%	27.73%	29.62%	58.06%
Free Cash Flow Margin	13.20%	11.25%	14.54%	14.56%	14.58%
Free Cash Flow Per Share	2.43	1.52	1.45	1.13	0.87
Cash Interest Paid	139.61	104.07	66.64	42.73	7.51
Cash Income Tax Paid	115.26	79.16	60.1	37.5	30.07
Levered Free Cash Flow	1,139	386.02	330.9	28.76	388.9
Unlevered Free Cash Flow	1,244	446.7	370.86	60.2	407.4
Change in Working Capital	-625.83	-409.18	-194.99	-152.53	-94.74

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