BVMF:DMVF3 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	22.6	25.86	21.36	11.36	1.98
Depreciation & Amortization	134.74	116.19	103.57	96.76	93.4
Other Amortization	-	1.46	1.01	0.71	0.63
Asset Writedown & Restructuring Costs	0.95	-0.38	0.46	2.18	-6.16
Provision & Write-off of Bad Debts	0.79	-0.03	-0.36	0.37	0.16
Other Operating Activities	55.96	55.91	40.44	26.84	-11.47
Change in Accounts Receivable	-38.21	-35.56	-25.63	-39.16	-24.71
Change in Inventory	-2.69	-92	-34.08	-16.09	-8.6
Change in Accounts Payable	-17.09	101.27	50.5	35.23	40.29
Change in Income Taxes	8.22	8.41	-1.08	-1.18	1.99
Change in Other Net Operating Assets	-0.05	-4.38	-10.17	-14.39	7.5
Operating Cash Flow	165.21	176.74	146.04	102.61	95.01
Operating Cash Flow Growth	-6.52%	21.02%	42.33%	8.00%	1536.92%
Capital Expenditures	-78.46	-77.48	-49.55	-34.33	-48.93
Sale (Purchase) of Intangibles	-13.99	-17.33	-8.5	-5.8	-7.43
Other Investing Activities	-	-	-4.35	-4.73	-3.9
Investing Cash Flow	-92.45	-94.81	-62.4	-44.86	-60.26
Long-Term Debt Issued	50	64.93	-	26.49	-
Long-Term Debt Repaid	-85.93	-102.23	-70.53	-96.88	-139.35
Net Debt Issued (Repaid)	-35.93	-37.31	-70.53	-70.39	-139.35
Other Financing Activities	-48.52	-31.26	-25.36	-27.25	-5.53
Financing Cash Flow	-84.45	-68.56	-95.88	-97.64	-144.88
Miscellaneous Cash Flow Adjustments	0	-	-	-	-
Net Cash Flow	-11.69	13.37	-12.24	-39.89	-110.13
Free Cash Flow	86.75	99.26	96.49	68.28	46.08
Free Cash Flow Growth	-12.60%	2.87%	41.33%	48.16%	-
Free Cash Flow Margin	3.25%	4.59%	5.52%	4.60%	4.04%
Free Cash Flow Per Share	1.71	1.96	1.91	1.35	0.91
Cash Interest Paid	48.52	31.26	25.36	27.25	5.53
Cash Income Tax Paid	-	-	-	5	0.72
Levered Free Cash Flow	18.74	29.93	45.74	37.83	60.86
Unlevered Free Cash Flow	59.8	52.21	63.85	56.35	76.14
Change in Working Capital	-49.82	-22.27	-20.44	-35.6	16.46

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