BVMF:MULT3 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	1,141	1,341	1,020	769.26	453.1
Depreciation & Amortization	137.76	138.51	170.14	206.75	201.05
Gain (Loss) on Sale of Investments	-0	-	0.14	-	10.51
Stock-Based Compensation	40.38	47.09	42.49	38.48	32.71
Income (Loss) on Equity Investments	-	0.08	-19.45	-16.55	10.88
Change in Accounts Receivable	-284.54	-262.61	-35.54	-37.93	-128.29
Change in Accounts Payable	4.89	-27.04	71.45	-18.65	-9.1
Change in Other Net Operating Assets	-182.81	-8.79	-121.71	-55.15	-34.7
Other Operating Activities	776.26	436.72	378.42	421.81	238.47
Operating Cash Flow	1,464	1,489	1,188	1,204	701.74
Operating Cash Flow Growth	-1.71%	25.42%	-1.35%	71.55%	37.90%
Acquisition of Real Estate Assets	-733.15	-860.01	-481.41	-244.21	-546.31
Net Sale / Acq. of Real Estate Assets	-733.15	-860.01	-481.41	-244.21	-546.31
Cash Acquisition	-	-	-	-2.44	-5.01
Investment in Marketable & Equity Securities	666.97	0.81	84.81	-684.79	-243.3
Other Investing Activities	51.98	84.37	43.46	24.02	22.19
Investing Cash Flow	-53.05	-805.78	-376.3	-929.72	-790.64
Long-Term Debt Issued	482.84	2,588	584.05	298.41	662.18
Long-Term Debt Repaid	-550.4	-413.71	-402.42	-400.4	-793.69
Net Debt Issued (Repaid)	-67.56	2,174	181.64	-101.99	-131.51
Repurchase of Common Stock	-25.47	-2,106	-123.69	-155.22	-55.79
Common Dividends Paid	-492.05	-513.4	-384.19	-208.36	-237.05
Other Financing Activities	-684.29	-345.66	-351.49	-338.77	-156.38
Net Cash Flow	141.5	-107.56	133.57	-530.2	-669.62
Cash Interest Paid	114.33	119.23	146.11	139.26	74.24
Cash Income Tax Paid	98.92	109.7	106.52	91.23	-
Levered Free Cash Flow	1,143	727.46	859.22	76.99	146.4
Unlevered Free Cash Flow	1,564	945.64	1,075	318.59	257.42
Change in Working Capital	-638.72	-450.61	-418.21	-251.96	-342.66

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