BVMF:MDIA3 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	659.82	645.95	888.65	481.84	504.99
Depreciation & Amortization	376.43	337.66	340.12	296.04	272.34
Other Amortization	35.63	31.31	24.85	21.22	14.57
Loss (Gain) From Sale of Assets	1.32	1.29	11.75	1.34	1.35
Asset Writedown & Restructuring Costs	-	-	5.66	-	0.85
Loss (Gain) on Equity Investments	1.3	4.99	0.21	-0.32	11.35
Stock-Based Compensation	14.2	17.03	13.81	11.01	9.64
Provision & Write-off of Bad Debts	21.14	23.85	16.63	24.32	-0.87
Other Operating Activities	58.16	228.26	-0.47	-168.99	-138.22
Change in Accounts Receivable	-194.7	152.59	-159.99	-243.73	-468.56
Change in Inventory	7.55	-404.39	816.51	-949.49	-24.84
Change in Accounts Payable	284.71	-181.17	-85.05	416.64	339.06
Change in Unearned Revenue	-2.43	5.31	-19.18	14.16	-1.53
Change in Income Taxes	54.89	-69.41	262.88	290.59	414.59
Change in Other Net Operating Assets	89.92	-201.6	9.4	-88.02	-9.9
Operating Cash Flow	1,408	591.67	2,126	106.62	924.82
Operating Cash Flow Growth	137.96%	-72.17%	1893.79%	-88.47%	36.20%
Capital Expenditures	-276.17	-278.18	-262.24	-177.13	-161.76
Cash Acquisitions	-18.06	-49.17	-81.25	-7.04	-69.93
Investment in Securities	-3.3	0.97	-0.38	-416.95	-131.39
Investing Cash Flow	-297.53	-326.38	-343.86	-601.11	-363.08
Long-Term Debt Issued	79.08	1,172	331.72	430.09	821.65
Long-Term Debt Repaid	-1,014	-1,285	-423.58	-151.47	-805.59
Net Debt Issued (Repaid)	-935.29	-112.8	-91.87	278.63	16.05
Repurchase of Common Stock	-	-50.53	-	-36.6	-12.85
Common Dividends Paid	-439.03	-221.82	-69.78	-655.48	-222.09
Financing Cash Flow	-1,374	-385.15	-161.64	-413.45	-218.89
Foreign Exchange Rate Adjustments	-0.39	4.61	-0.49	0.13	-
Net Cash Flow	-264.32	-115.25	1,620	-907.82	342.86
Free Cash Flow	1,132	313.49	1,864	-70.51	763.07
Free Cash Flow Growth	261.02%	-83.18%	-	-	64.76%
Free Cash Flow Margin	10.84%	3.24%	17.19%	-0.70%	9.77%
Free Cash Flow Per Share	3.34	0.93	5.50	-0.21	2.25
Cash Interest Paid	120.31	126.83	117.85	80.16	84.23
Cash Income Tax Paid	20.82	0.06	4.78	-	-
Levered Free Cash Flow	927.01	-138.4	1,533	-290.9	460.24
Unlevered Free Cash Flow	1,042	-23.41	1,648	-186.32	552.56
Change in Working Capital	239.95	-698.67	824.57	-559.84	248.83

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.