João Fortes Engenharia 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	-253.18	-223.02	-61.23	-123.29	-188.92	-168.66
Depreciation & Amortization	16.65	17.08	1.24	1.48	1.76	1.33
Other Amortization	0.32	0.18	0.19	0.22	0.1	0.1
Loss (Gain) on Equity Investments	2.65	2.55	4.44	1.37	8.59	7.3
Other Operating Activities	112.14	85.49	-76.86	-58.74	-87.01	-19.44
Change in Accounts Receivable	-86.98	-34.19	27.1	39.8	18.17	11.4
Change in Inventory	167.62	191.41	96.29	15.93	58.59	19.83
Change in Accounts Payable	-7.91	-9.84	2.56	0.81	-0.33	6.7
Change in Unearned Revenue	-5.61	-3.54	-7.84	-3.5	3.24	-1.64
Change in Income Taxes	-28.5	-32.77	-18.95	14.95	22.55	5.56
Change in Other Net Operating Assets	51.39	-454.44	93.72	100.89	179.09	128.01
Operating Cash Flow	-31.4	-461.07	60.66	-10.08	15.83	-9.51
Capital Expenditures	-0.08	-0.3	-3.57	-1.48	-	-0.22
Sale of Property, Plant & Equipment	0.38	-	-	-	4.02	-
Investment in Securities	-0.96	-1.07	-3.03	0.01	-7.58	-5.4
Other Investing Activities	0	0.05	0	0.4	0.3	0.07
Investing Cash Flow	-0.66	-1.31	-6.6	-1.07	-3.26	-5.55
Short-Term Debt Issued	-	-	-	-	-	27.42
Long-Term Debt Issued	-	12.08	2.08	20.26	17.73	0.61
Total Debt Issued	23.77	12.08	2.08	20.26	17.73	28.02
Short-Term Debt Repaid	-	-119.74	-40.56	-7.04	-10.64	-
Long-Term Debt Repaid	-	-434.99	-5.31	-14.83	-6.96	-9.64
Total Debt Repaid	-167.62	-554.73	-45.87	-21.87	-17.59	-9.64
Net Debt Issued (Repaid)	-143.86	-542.65	-43.79	-1.61	0.14	18.38
Issuance of Common Stock	42.61	991.47	-	-	-	-
Common Dividends Paid	-	-	-	-	-	-7.1
Other Financing Activities	105.05	1.08	2.84	0.44	-2.39	3.9
Financing Cash Flow	3.81	449.9	-40.95	-1.17	-2.25	15.19
Net Cash Flow	-28.25	-12.48	13.11	-12.32	10.33	0.13
Free Cash Flow	-31.48	-461.36	57.09	-11.56	15.83	-9.74
Free Cash Flow Margin	-14.27%	-276.29%	68.04%	-175.17%	372.93%	-33.59%
Free Cash Flow Per Share	-2.96	-68.93	34.33	-10.98	15.05	-9.25
Cash Interest Paid	2.61	6.84	18.42	8.48	0.88	12.66
Cash Income Tax Paid	0.09	-	-	0.02	0.04	0.02
Levered Free Cash Flow	-6.49	-282.02	126.52	-23.3	23.67	41.8
Unlevered Free Cash Flow	-6.48	-275.7	125.1	-14.17	26.17	50.72
Change in Working Capital	90.01	-343.36	192.87	168.88	281.31	169.86

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