Grupo Mateus 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	1,889	1,318	1,221	1,052	758.93	725.81
Depreciation & Amortization	471.92	376.75	353.39	329.17	264.96	192.02
Asset Writedown & Restructuring Costs	1.13	1.13	7.24	1.09	10.12	2.92
Provision & Write-off of Bad Debts	53.28	54.82	21.19	16.19	8.34	17.47
Other Operating Activities	395.1	686.67	323.17	225.73	135.39	35.1
Change in Accounts Receivable	-332.67	3.68	-924.32	-748.18	-519.14	-505.39
Change in Inventory	-396.54	-959.55	-1,113	-510.28	-882.18	-1,117
Change in Accounts Payable	424.45	39.36	1,031	951.99	111.98	394.68
Change in Income Taxes	-775.96	-169.24	-113.78	-374.85	-7.71	-59.2
Change in Other Net Operating Assets	-40.46	109.18	148.76	34.51	15.06	79.75
Operating Cash Flow	1,683	1,461	954.38	977.78	-104.26	-234.16
Operating Cash Flow Growth	41.27%	53.08%	-2.39%	-	-	-
Capital Expenditures	-1,229	-1,237	-1,180	-868.37	-1,432	-640.98
Sale of Property, Plant & Equipment	276.48	158.51	155.18	269.4	-	-
Sale (Purchase) of Intangibles	-60.36	-31.73	-32.33	-2.16	-2.84	-0.45
Investment in Securities	51.39	-23.07	-18.61	1.54	11.89	-0.36
Investing Cash Flow	-961.04	-1,133	-1,076	-599.59	-1,423	-641.79
Long-Term Debt Issued	-	962.08	86.6	944.51	533.33	690.66
Long-Term Debt Repaid	-	-851.2	-473.33	-409.82	-241.5	-1,116
Net Debt Issued (Repaid)	-298.24	110.88	-386.73	534.69	291.83	-425.09
Issuance of Common Stock	-	-	-	-	-	3,034
Repurchase of Common Stock	-33.21	-10.82	-7.47	-	-	-
Common Dividends Paid	-81.05	-81.05	-	-	-	-
Other Financing Activities	174.38	28.23	9.36	5.51	0.71	-19.21
Financing Cash Flow	-238.12	47.24	-384.83	540.2	292.54	2,590
Net Cash Flow	484.21	375.03	-506.51	918.39	-1,235	1,714
Free Cash Flow	454.81	224.07	-225.91	109.41	-1,537	-875.14
Free Cash Flow Margin	1.24%	0.70%	-0.84%	0.50%	-9.68%	-7.06%
Free Cash Flow Per Share	0.20	0.10	-0.10	0.05	-0.70	-0.40
Cash Interest Paid	165.35	179.05	143.17	69.73	10.83	43.25
Cash Income Tax Paid	160.22	-	-	-	-	-
Levered Free Cash Flow	387	-662.25	-882.07	-392.4	-2,024	-1,143
Unlevered Free Cash Flow	774.79	-370.77	-629.92	-233.9	-1,856	-1,000
Change in Working Capital	-1,121	-976.56	-971.47	-646.81	-1,282	-1,207

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