BVMF:EQMA3B Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	853.72	741.34	777.39	648.15	943.42	700.27	Upgrade
Depreciation & Amortization	352.53	306.96	251.33	229.15	220.31	190.47	Upgrade
Loss (Gain) on Sale of Investments	-293.03	-164.05	-162.55	-167.51	-406.16	-66.17	Upgrade
Asset Writedown	-18.58	10.85	12.86	34.13	16.62	8.18	Upgrade
Stock-Based Compensation	12.71	-2.88	28.81	-	-	-	Upgrade
Change in Accounts Receivable	-202.58	-205.9	-270.13	0.38	-211.15	-73.26	Upgrade
Change in Inventory	-11.51	-2.93	29.18	-6.01	-24	-3.05	Upgrade
Change in Accounts Payable	24.05	-51.18	72.33	-131.01	32.38	200.81	Upgrade
Change in Income Taxes	16.58	8.01	-9.31	25.51	258.22	125.05	Upgrade
Change in Other Net Operating Assets	-231.68	-63.92	-125.76	-10.12	264.36	36.12	Upgrade
Other Operating Activities	91.87	174.36	-143.75	366.14	-534.25	235.92	Upgrade
Operating Cash Flow	752.73	921.31	632.99	1,046	630.86	1,406	Upgrade
Operating Cash Flow Growth	-15.88%	45.55%	-39.50%	65.86%	-55.13%	33.74%	Upgrade
Sale (Purchase) of Intangibles	-1,059	-1,009	-892.64	-817.63	-462.2	-446.52	Upgrade
Investment in Securities	93.25	-801.71	294.49	-99.43	714.29	-425.4	Upgrade
Investing Cash Flow	-966.13	-1,811	-598.15	-917.06	252.09	-871.92	Upgrade
Long-Term Debt Issued	-	1,448	903.18	838.97	764.18	284.44	Upgrade
Long-Term Debt Repaid	-	-351.71	-268.41	-611.67	-1,104	-393.87	Upgrade
Net Debt Issued (Repaid)	518.18	1,096	634.77	227.3	-340.05	-109.42	Upgrade
Common Dividends Paid	-390.67	-390.67	-458.39	-333.22	-758.36	-479.93	Upgrade
Financing Cash Flow	127.52	705.16	176.38	-105.92	-1,098	-589.35	Upgrade
Net Cash Flow	-85.88	-184.39	211.22	23.36	-215.46	-55.26	Upgrade
Cash Interest Paid	232.96	262	181.95	-	175.78	92.26	Upgrade
Cash Income Tax Paid	68.7	41.31	110.16	180.39	-	-	Upgrade
Levered Free Cash Flow	-149.38	-191.71	-295.35	469.76	404.23	387.73	Upgrade
Unlevered Free Cash Flow	20.96	-56.67	-204.82	552.99	466.71	453.64	Upgrade
Change in Working Capital	-405.13	-315.93	-303.69	-121.25	319.82	285.67	Upgrade

Updated Nov 13, 2024. Source: S&P Global Market Intelligence. Utility template. Financial Sources.