BVMF: HGBS11 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	2018 - 2014
Period Ending	Dec '23 Dec 31, 2023	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	2018 - 2014
Net Income	337.58	337.58	230.03	18.39	-136.99	299.81	Upgrade
Gain (Loss) on Sale of Investments	-	-	-	49.89	-	-	Upgrade
Asset Writedown	-	-	-	36.42	-	-	Upgrade
Other Operating Activities	-180.1	-180.1	-68.93	-15.4	200.29	-197.06	Upgrade
Operating Cash Flow	157.48	157.48	161.1	89.29	63.3	102.75	Upgrade
Operating Cash Flow Growth	-2.25%	-2.25%	80.41%	41.06%	-38.40%	28.08%	Upgrade
Acquisition of Real Estate Assets	-219.6	-219.6	-14.41	-100.02	-155.03	-280.72	Upgrade
Net Sale / Acq. of Real Estate Assets	-219.6	-219.6	-14.41	-100.02	-155.03	-280.72	Upgrade
Investment in Marketable & Equity Securities	-167.77	-167.77	0.83	74.31	-225.74	-293.08	Upgrade
Other Investing Activities	133.46	133.46	-	16.43	-3.33	-60.18	Upgrade
Investing Cash Flow	-253.91	-253.91	-13.58	-9.28	-384.1	-633.98	Upgrade
Issuance of Common Stock	606.95	606.95	-	-	-	-	Upgrade
Common Dividends Paid	-	-	-	-	-	-123.79	Upgrade
Other Financing Activities	-205.06	-205.06	-151	-81.1	-79.51	1,058	Upgrade
Net Cash Flow	305.46	305.46	-3.48	-1.08	-400.31	403.18	Upgrade
Cash Interest Paid	216.69	216.69	151	81.1	79.51	-	Upgrade
Cash Income Tax Paid	1.72	1.72	0	-	3.91	6.27	Upgrade
Levered Free Cash Flow	388.86	388.86	112.9	21.26	-128.23	159.06	Upgrade
Unlevered Free Cash Flow	388.86	388.86	112.9	21.26	-128.23	159.06	Upgrade
Change in Net Working Capital	-232.09	-232.09	-7.46	7.39	53.62	-23.66	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.