BVMF:EQPA3 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,544	1,553	1,976	2,226	1,556	1,026
Depreciation & Amortization	669.51	613.9	424.9	439.07	380.41	365.3
Loss (Gain) on Sale of Investments	-359.38	-333.09	-303.92	-377.41	-123.45	-326.94
Asset Writedown	47.65	34.66	-6.49	-27.69	101.18	66.59
Restructuring Activities	20.82	20.82	20.82	20.83	20.81	20.81
Change in Accounts Receivable	-476.56	-452.31	-265.69	-412.56	-114.56	-365.84
Change in Inventory	-19.04	-9.28	-7.17	58.92	23.8	-77.81
Change in Accounts Payable	-13.83	-89.8	-70.22	-27.91	-152.67	336.16
Change in Income Taxes	17.29	2.78	-50.46	-315.25	-561.24	208.86
Change in Other Net Operating Assets	-340.85	-331.8	-358.1	108.95	446.74	379.66
Other Operating Activities	-4.01	185.15	558.16	162.14	-41.4	-733.71
Operating Cash Flow	1,372	1,454	2,233	2,063	1,702	1,065
Operating Cash Flow Growth	-37.02%	-34.90%	8.26%	21.21%	59.76%	-32.50%
Sale (Purchase) of Intangibles	-3,310	-3,249	-2,311	-2,247	-1,827	-1,111
Investment in Securities	982.52	742.88	-1,348	507.25	146.26	228.4
Other Investing Activities	1,585	1,553	1,765	816.68	356.47	95.42
Investing Cash Flow	-742.94	-953.49	-1,893	-923.4	-1,324	-786.9
Short-Term Debt Issued	-	-	-	-	130	130
Long-Term Debt Issued	-	3,249	2,715	-	3,163	678.68
Total Debt Issued	4,020	3,249	2,715	-	3,293	808.68
Short-Term Debt Repaid	-	-	-	-	-	-10
Long-Term Debt Repaid	-	-2,778	-371.6	-726.21	-1,767	-1,047
Total Debt Repaid	-2,059	-2,778	-371.6	-726.21	-1,767	-1,057
Net Debt Issued (Repaid)	1,961	470.85	2,344	-726.21	1,526	-247.96
Common Dividends Paid	-1,455	-1,455	-1,678	-325.97	-1,951	-905.47
Other Financing Activities	-27.46	-27.46	-29.74	33.87	94.01	91.43
Financing Cash Flow	479.04	-1,011	636.05	-1,018	-330.76	-1,062
Net Cash Flow	1,108	-510.97	976.08	121.27	46.84	-783.61
Cash Interest Paid	706.63	706.63	415.47	527.1	362.53	239.3
Cash Income Tax Paid	155.73	155.73	176.68	40.03	-	-
Levered Free Cash Flow	-1,722	-1,696	-542.15	-391.27	235.91	458.6
Unlevered Free Cash Flow	-1,275	-1,296	-300.67	-133.92	450.72	605.21
Change in Working Capital	-832.99	-880.41	-751.64	-587.84	-357.93	481.03

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