BVMF:CVCB3 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	-40.94	-103.34	-456.88	-433.44	-476.34
Depreciation & Amortization	90.75	96.31	69.94	87.46	208.59
Other Amortization	138.97	126.19	148.55	115.73	-
Asset Writedown & Restructuring Costs	22.48	19.58	92.78	17.82	16.17
Loss (Gain) on Equity Investments	-	-	0.29	0.94	-
Provision & Write-off of Bad Debts	15.03	12.2	58.7	48.4	-1.84
Other Operating Activities	218.97	217.17	406.65	294.74	-30.91
Change in Accounts Receivable	-263.41	-190.7	-499.42	440.79	61.05
Change in Inventory	-125	192.44	-275.8	267.74	116.97
Change in Accounts Payable	165.49	-322.52	130.72	92.69	170.02
Change in Unearned Revenue	130.53	348.66	-121.21	-755	-24.39
Change in Income Taxes	-31.83	-26.89	12.04	15.06	46.23
Change in Other Net Operating Assets	30.38	13.36	-136.85	-74.58	-189.99
Operating Cash Flow	351.41	382.45	-570.48	118.33	-104.44
Operating Cash Flow Growth	-8.12%	-	-	-	-
Capital Expenditures	-3.65	-3.76	-6.52	-16.17	-12.11
Cash Acquisitions	-	-	-	-5.4	-
Sale (Purchase) of Intangibles	-118.13	-82.89	-82.35	-223.21	-121.52
Investing Cash Flow	-121.78	-86.64	-88.87	-244.78	-133.63
Long-Term Debt Issued	-	-	-	-	436.41
Long-Term Debt Repaid	-204.48	-190.94	-207.09	-116.44	-995.06
Net Debt Issued (Repaid)	-204.48	-190.94	-207.09	-116.44	-558.66
Issuance of Common Stock	-	-	799.12	402.81	818.15
Repurchase of Common Stock	-9.7	-	-	-	-
Other Financing Activities	-107.53	-219.29	-130.4	-257.26	-148.91
Financing Cash Flow	-321.7	-410.22	461.62	29.1	110.59
Foreign Exchange Rate Adjustments	-21.44	31.82	-6.99	-10.94	12.5
Net Cash Flow	-113.51	-82.6	-204.72	-108.29	-114.99
Free Cash Flow	347.76	378.7	-577	102.15	-116.55
Free Cash Flow Growth	-8.17%	-	-	-	-
Free Cash Flow Margin	23.36%	26.65%	-40.27%	8.36%	-14.11%
Free Cash Flow Per Share	0.66	0.72	-1.54	0.41	-0.56
Cash Interest Paid	107.3	204.12	87.34	180.95	88.07
Cash Income Tax Paid	-15.17	5.49	-	-	-
Levered Free Cash Flow	209.15	232.94	-773.01	-67.38	68.05
Unlevered Free Cash Flow	411.88	400.4	-587.43	128.17	131.59
Change in Working Capital	-93.85	14.35	-890.51	-13.31	179.89

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