BVMF:GSHP3 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	-384.82	22.17	-815.27	93.17	-86.77	-256.47
Depreciation & Amortization	1.37	1.09	2.14	2.09	3.01	3.04
Other Amortization	1.76	1.76	-	-	-	-
Asset Writedown	81.14	81.14	153.51	22.57	16.14	-3.32
Change in Accounts Receivable	6.21	4.01	60.28	12.49	14.77	27.68
Change in Accounts Payable	2.26	1.35	-4.64	9.22	-1	-14.63
Change in Other Net Operating Assets	0.14	1	0.48	-0.07	-7.15	-20.05
Other Operating Activities	204.09	-204.31	612.82	-127.51	-16.45	224.46
Operating Cash Flow	-34.53	-39.84	-8.57	-62.89	-125.89	-39.65
Acquisition of Real Estate Assets	-15.83	-14.87	-73	-119.84	-98.58	-165.13
Sale of Real Estate Assets	9.24	9.25	176.51	0.08	164.08	2.69
Net Sale / Acq. of Real Estate Assets	-6.59	-5.62	103.51	-119.76	65.5	-162.44
Investment in Marketable & Equity Securities	0.54	0.53	-0.05	-0.05	1.41	249.82
Other Investing Activities	16.76	15.79	1.81	-	-	-
Investing Cash Flow	10.72	10.7	105.27	-119.81	66.92	87.38
Long-Term Debt Issued	-	-	-	137.1	-	-
Long-Term Debt Repaid	-	-49.26	-44.88	-32.41	-126.03	-35.7
Net Debt Issued (Repaid)	-50.61	-49.26	-44.88	104.69	-126.03	-35.7
Other Financing Activities	7.3	12.77	0.64	43.49	42.75	143.78
Net Cash Flow	-67.12	-65.63	52.46	-34.52	-142.25	155.81
Cash Interest Paid	81.81	80.95	79.62	72.85	70.78	83.76
Levered Free Cash Flow	-78.3	-85.24	111.52	-357.59	-171.9	-80.16
Unlevered Free Cash Flow	27.13	23.69	223.44	-260.98	-171.9	28.84
Change in Working Capital	63.78	60.51	37.57	-49.16	-38.39	-8.8

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