Panatlântica 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	49.87	84.66	13.42	55.69	293.35
Depreciation & Amortization	17.42	14.64	13.18	11.24	10.07
Asset Writedown & Restructuring Costs	2.11	0.64	3.31	2.9	2.69
Loss (Gain) From Sale of Investments	-	15.75	-	-	-
Other Operating Activities	86.94	85.67	68.48	62.8	37.36
Change in Accounts Receivable	53.55	-19.67	-22.59	77.67	-30.44
Change in Inventory	9.89	-47.95	138.95	112.53	-305.55
Change in Accounts Payable	-9.84	57.7	-21.02	-13.48	-0.32
Change in Income Taxes	8.73	-4.62	74.49	-52.03	-115.98
Change in Other Net Operating Assets	-0.27	23.17	2.95	72.03	30.45
Operating Cash Flow	218.4	209.99	271.15	329.35	-78.37
Operating Cash Flow Growth	4.01%	-22.56%	-17.67%	-	-
Capital Expenditures	-36.75	-42.74	-41.4	-67.98	-20.98
Sale (Purchase) of Intangibles	-1.14	-1.05	-1.25	-1.3	-1.11
Investment in Securities	107.19	-10.99	0.28	-	-
Investing Cash Flow	69.3	-54.78	-42.37	-69.28	-22.09
Long-Term Debt Issued	67.88	255.53	44.43	176.63	549.31
Long-Term Debt Repaid	-234.08	-179.28	-370.03	-265.5	-199.91
Net Debt Issued (Repaid)	-166.2	76.25	-325.59	-88.87	349.39
Common Dividends Paid	-65.29	-156.08	-13.23	-69.67	-43.34
Other Financing Activities	-59.59	-59.75	-55.01	-107.04	-31.94
Financing Cash Flow	-291.08	-139.58	-393.83	-265.58	274.11
Net Cash Flow	-3.37	15.63	-165.05	-5.51	173.65
Free Cash Flow	181.65	167.25	229.75	261.37	-99.35
Free Cash Flow Growth	8.61%	-27.20%	-12.10%	-	-
Free Cash Flow Margin	9.42%	7.93%	12.23%	11.21%	-3.72%
Free Cash Flow Per Share	7.59	6.99	9.60	10.92	-4.15
Cash Interest Paid	59.59	59.75	55.01	107.04	31.94
Levered Free Cash Flow	71.03	83.53	168.69	66.36	-238.76
Unlevered Free Cash Flow	111.95	120.91	228.23	146.28	-208.01
Change in Working Capital	62.07	8.63	172.77	196.72	-421.84

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