Paranapanema 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	Jun '25 Jun 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	-1,534	-2,139	-1,390	-2,701	-801.11	-861.6
Depreciation & Amortization	92.65	93.73	110.41	116.61	152.75	166.83
Asset Writedown & Restructuring Costs	-3.83	-1.3	2.77	0.55	8.03	1.31
Loss (Gain) From Sale of Investments	-	-	-	837.69	45.5	13.81
Provision & Write-off of Bad Debts	-0.01	-	-	-0.12	0.13	0.48
Other Operating Activities	1,212	1,849	846.01	1,109	516.64	758.7
Change in Accounts Receivable	-3.57	5.3	37.45	71.42	231.05	-204.83
Change in Inventory	22.58	3.59	5.37	436.1	390.67	-74.76
Change in Accounts Payable	160.14	83.35	122.51	459.83	-361.35	-12.27
Change in Unearned Revenue	10.22	3.18	-21.31	-13.76	43.63	48.42
Change in Income Taxes	133.13	291.8	82.99	25.89	-11.55	83.85
Change in Other Net Operating Assets	78.27	-113.06	79.33	-124.65	-181.87	213.52
Operating Cash Flow	167.45	76.72	-124.42	217.76	32.5	133.46
Operating Cash Flow Growth	273.02%	-	-	570.00%	-75.65%	-41.90%
Capital Expenditures	-20.53	-16.69	-19.33	-89.17	-91.15	-65.05
Investment in Securities	0.45	-0.25	4.7	15.65	22.24	-17.96
Investing Cash Flow	-20.08	-16.94	-14.63	-73.53	-68.92	-83.01
Long-Term Debt Issued	-	459.09	865.29	928.77	918.81	260.59
Long-Term Debt Repaid	-	-444.87	-643.59	-945.59	-941.76	-271.61
Net Debt Issued (Repaid)	11.78	14.23	221.7	-16.82	-22.95	-11.02
Issuance of Common Stock	-	1.32	-	-	-	-
Common Dividends Paid	-	-	-	-0.15	-	-0.02
Other Financing Activities	-76.65	-66.88	-85.07	-164.87	-39.28	-18.69
Financing Cash Flow	-149.03	-51.34	136.63	-181.85	-62.23	-29.73
Net Cash Flow	-1.66	8.44	-2.42	-37.62	-98.65	20.73
Free Cash Flow	146.92	60.03	-143.75	128.58	-58.65	68.41
Free Cash Flow Growth	382.51%	-	-	-	-	12.71%
Free Cash Flow Margin	27.19%	13.05%	-14.78%	6.41%	-1.24%	1.59%
Free Cash Flow Per Share	2.32	1.14	-3.31	2.96	-1.44	1.68
Cash Interest Paid	66.57	57.34	77.23	148.34	39.28	18.69
Cash Income Tax Paid	0.02	-0	-	-	-	0.37
Levered Free Cash Flow	-1.79	-7.71	-668.34	-57.88	97.03	-322.18
Unlevered Free Cash Flow	692.03	638.31	-195.67	165.14	235.94	-207.3
Change in Working Capital	400.76	274.16	306.33	854.83	110.57	53.94

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.