João Fortes Engenharia 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	-223.22	-223.02	-61.23	-123.29	-188.92
Depreciation & Amortization	0.74	17.08	1.24	1.48	1.76
Other Amortization	0.19	0.18	0.19	0.22	0.1
Loss (Gain) on Equity Investments	-0.56	2.55	4.44	1.37	8.59
Other Operating Activities	119.97	85.49	-76.86	-58.74	-87.01
Change in Accounts Receivable	-47.77	-34.19	27.1	39.8	18.17
Change in Inventory	85.47	191.41	96.29	15.93	58.59
Change in Accounts Payable	-17.95	-9.84	2.56	0.81	-0.33
Change in Unearned Revenue	-3.07	-3.54	-7.84	-3.5	3.24
Change in Income Taxes	6.31	-32.77	-18.95	14.95	22.55
Change in Other Net Operating Assets	2.46	-454.44	93.72	100.89	179.09
Operating Cash Flow	-77.42	-461.07	60.66	-10.08	15.83
Capital Expenditures	-	-0.3	-3.57	-1.48	-
Sale of Property, Plant & Equipment	0.33	-	-	-	4.02
Investment in Securities	2.17	-1.07	-3.03	0.01	-7.58
Other Investing Activities	0	0.05	0	0.4	0.3
Investing Cash Flow	2.49	-1.31	-6.6	-1.07	-3.26
Long-Term Debt Issued	58.59	-	2.08	20.26	17.73
Total Debt Issued	58.59	-	2.08	20.26	17.73
Short-Term Debt Repaid	-	-	-40.56	-7.04	-10.64
Long-Term Debt Repaid	-27.56	-434.99	-5.31	-14.83	-6.96
Total Debt Repaid	-27.56	-434.99	-45.87	-21.87	-17.59
Net Debt Issued (Repaid)	31.03	-434.99	-43.79	-1.61	0.14
Issuance of Common Stock	42.61	991.47	-	-	-
Other Financing Activities	-3.74	-106.58	2.84	0.44	-2.39
Financing Cash Flow	69.89	449.9	-40.95	-1.17	-2.25
Net Cash Flow	-5.03	-12.48	13.11	-12.32	10.33
Free Cash Flow	-77.42	-461.36	57.09	-11.56	15.83
Free Cash Flow Margin	-44.24%	-276.29%	68.04%	-175.17%	372.93%
Free Cash Flow Per Share	-6.16	-68.93	34.33	-10.98	15.05
Cash Interest Paid	2.11	6.84	18.42	8.48	0.88
Cash Income Tax Paid	-	-	-	0.02	0.04
Levered Free Cash Flow	58.82	-72.38	126.52	-23.3	23.67
Unlevered Free Cash Flow	44.03	-65.31	125.1	-14.17	26.17
Change in Working Capital	25.46	-343.36	192.87	168.88	281.31

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