BVMF:HGBS11 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	142.03	45.4	337.58	230.03	18.39
Gain (Loss) on Sale of Investments	-	-	-	-	49.89
Asset Writedown	-	-	-	-	36.42
Other Operating Activities	71.91	154.25	-180.1	-68.93	-15.4
Operating Cash Flow	213.93	199.65	157.48	161.1	89.29
Operating Cash Flow Growth	7.16%	26.78%	-2.25%	80.41%	41.07%
Acquisition of Real Estate Assets	-87.88	-404.77	-219.6	-14.41	-100.02
Sale of Real Estate Assets	80.59	62.16	-	-	-
Net Sale / Acq. of Real Estate Assets	-7.3	-342.61	-219.6	-14.41	-100.02
Investment in Marketable & Equity Securities	-14.73	30.9	-167.77	0.83	64.08
Other Investing Activities	-8.52	0.97	133.46	-	26.67
Investing Cash Flow	-30.55	-310.74	-253.91	-13.58	-9.28
Long-Term Debt Issued	-	110.75	-	-	-
Net Debt Issued (Repaid)	-	110.75	-	-	-
Issuance of Common Stock	-	41.02	606.95	-	-
Common Dividends Paid	-241.31	-260.96	-205.06	-	-
Other Financing Activities	-	-	-	-151	-81.1
Net Cash Flow	-57.93	-220.28	305.46	-3.48	-1.08
Cash Interest Paid	-	24.98	11.63	151	81.1
Cash Income Tax Paid	-	4.61	1.72	0	-
Levered Free Cash Flow	258.98	107.17	201.02	112.9	21.26
Unlevered Free Cash Flow	258.98	107.17	201.02	112.9	21.26

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