Döhler 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	10.24	-15.36	0.47	3.48	77.35
Depreciation & Amortization	19.49	19.01	16.85	18.53	13.92
Other Amortization	1.39	1.99	1.25	-	-
Asset Writedown & Restructuring Costs	0.12	0.04	0.12	-	-
Loss (Gain) on Equity Investments	-	-	-	-	-1.12
Other Operating Activities	17.52	23.53	12.87	8.05	4.11
Change in Accounts Receivable	-27.13	5.31	3.92	-23.78	0.56
Change in Inventory	42.84	11.45	-56.59	-31.08	-98.74
Change in Accounts Payable	25.32	-13.03	19.87	-6.56	-4.87
Change in Income Taxes	-4.76	3.91	-	-	-
Change in Other Net Operating Assets	-22	-11.94	31.79	7.22	16.44
Operating Cash Flow	63.03	24.92	30.55	-24.14	7.66
Operating Cash Flow Growth	152.93%	-18.42%	-	-	-80.55%
Capital Expenditures	-23.13	-16.71	-7.32	-22.79	-52.9
Sale of Property, Plant & Equipment	7.91	-	-	-	-
Cash Acquisitions	-	-	-	-	3.1
Sale (Purchase) of Intangibles	-4.54	-3.07	-7.89	-5.34	-0.29
Other Investing Activities	-	-	-	5.25	2.38
Investing Cash Flow	-19.76	-19.78	-15.21	-22.88	-47.72
Long-Term Debt Issued	51.17	67.74	14.92	116.68	15.82
Long-Term Debt Repaid	-36.42	-29.87	-28.73	-43.01	-8.85
Net Debt Issued (Repaid)	14.74	37.88	-13.82	73.67	6.98
Repurchase of Common Stock	-0.81	-0.62	-0.51	-	-
Common Dividends Paid	-0.81	-	-	-20.27	-22.27
Financing Cash Flow	13.12	37.26	-14.32	53.4	-15.29
Net Cash Flow	56.39	42.4	1.01	6.37	-55.35
Free Cash Flow	39.9	8.22	23.23	-46.93	-45.24
Free Cash Flow Growth	385.75%	-64.64%	-	-	-
Free Cash Flow Margin	6.40%	1.31%	3.76%	-7.38%	-6.71%
Free Cash Flow Per Share	-	0.11	0.31	-0.62	-0.60
Cash Interest Paid	11.37	7.8	3.78	2.24	1.59
Levered Free Cash Flow	15.13	-11.07	-42.67	-54.14	-87.6
Unlevered Free Cash Flow	24.88	-2.81	-34.08	-39.55	-79.33
Change in Working Capital	14.27	-4.28	-1.01	-54.2	-86.61

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