BVMF:GGPS3 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
Period Ending	Sep '25 Sep 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
Net Income	658	658	643	517	400	282.65
Depreciation & Amortization	407.2	367.3	217.96	182.32	120	92.96
Other Amortization	18.42	12.7	6.04	2.68	-	0.58
Loss (Gain) From Sale of Assets	25	14	12	2	-6	4.55
Stock-Based Compensation	-	-	-	3	-	-
Provision & Write-off of Bad Debts	33	-2	-3	10	-8	2.13
Other Operating Activities	278	169	31	107	108	70.33
Change in Accounts Receivable	-423	-235	-343	-372	-234	-31.39
Change in Inventory	-34	-7	-	-	-	-3.21
Change in Accounts Payable	-96	-8	29	-2	1	-29.82
Change in Income Taxes	-163	-196	-194	-224	-162	-121.4
Change in Other Net Operating Assets	101	-20	25	178	154	-55.76
Operating Cash Flow	805	753	424	404	373	211.61
Operating Cash Flow Growth	29.71%	77.59%	4.95%	8.31%	76.27%	155.21%
Capital Expenditures	-235	-200	-146	-104	-71	-57.11
Sale of Property, Plant & Equipment	14	17	14	9	18	3.99
Cash Acquisitions	-74	-1,329	-197	-294	-280	-173.52
Sale (Purchase) of Intangibles	-13	-16	-1	-2	-	-1.76
Investment in Securities	1,839	-292	536	-826	-991	-102.3
Other Investing Activities	5	-5	6	-4	-9	-2
Investing Cash Flow	1,536	-1,825	212	-1,221	-1,333	-332.7
Long-Term Debt Issued	-	3,732	-	1,500	904	353.2
Long-Term Debt Repaid	-	-1,914	-325	-333	-431	-246.9
Net Debt Issued (Repaid)	-450	1,818	-325	1,167	473	106.3
Issuance of Common Stock	33	49	31	33	1,133	50.74
Common Dividends Paid	-231	-228	-176	-1	-539	-74.55
Other Financing Activities	-279	-88	-65	-145	-186	28.22
Financing Cash Flow	-927	1,551	-535	1,054	881	110.71
Miscellaneous Cash Flow Adjustments	-1	-	-	-	-	-
Net Cash Flow	1,413	479	101	237	-79	-10.38
Free Cash Flow	570	553	278	300	302	154.5
Free Cash Flow Growth	28.01%	98.92%	-7.33%	-0.66%	95.47%	347.70%
Free Cash Flow Margin	3.36%	3.74%	2.61%	3.25%	4.57%	3.13%
Free Cash Flow Per Share	0.76	0.74	0.37	0.41	0.42	0.24
Cash Interest Paid	616	539	421	222	71	69.64
Cash Income Tax Paid	81	76	162	122	63	64.82
Levered Free Cash Flow	211.39	45.2	57.28	192.97	-326.8	624.97
Unlevered Free Cash Flow	716.35	407.28	385.84	371.91	-268.81	671.28
Change in Working Capital	-615	-466	-483	-420	-241	-241.59

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.