BVMF:SBSP3 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	Sep '25 Sep 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	7,212	9,580	3,524	3,121	2,306	973.32
Depreciation & Amortization	2,000	2,532	2,658	2,331	2,156	1,958
Other Amortization	182.4	144.61	133.02	119.36	97.64	79.27
Loss (Gain) on Equity Investments	-41.7	-35.32	-32.39	-24.55	-22.08	-14.14
Asset Writedown	184.41	31.2	-117.25	-99.26	-70.65	-69.89
Change in Accounts Receivable	295.71	-442.31	-835.32	-489.89	-742.26	-213.08
Change in Inventory	13.36	-13.79	38.24	-10.74	-8.66	-34.39
Change in Accounts Payable	759.62	-437.69	-394.19	-220.46	-245.5	-248.4
Change in Income Taxes	-458.51	-40.97	-64.93	154.05	-57.18	42.55
Change in Other Net Operating Assets	-289.86	-139.28	-1,402	-1,542	-466.83	-622.96
Other Operating Activities	-669.92	-4,331	695.22	-154.02	323.98	2,683
Operating Cash Flow	10,119	7,405	4,854	3,968	3,914	4,978
Operating Cash Flow Growth	56.89%	52.53%	22.35%	1.38%	-21.38%	18.61%
Capital Expenditures	-3,813	-100.73	-147.25	-73.67	-50.28	-42.41
Sale (Purchase) of Intangibles	-7,930	-7,930	-3,991	-3,551	-3,697	-3,300
Investment in Securities	-3,665	-1,962	-749.47	755.51	1,076	-3,417
Other Investing Activities	-32.67	17.23	-17.47	-9.01	7.28	-9.72
Investing Cash Flow	-15,441	-9,976	-4,906	-2,878	-2,663	-6,769
Long-Term Debt Issued	-	6,871	2,371	2,807	2,923	4,777
Long-Term Debt Repaid	-	-2,246	-1,771	-1,537	-2,897	-3,244
Net Debt Issued (Repaid)	10,589	4,624	600.02	1,270	26.21	1,533
Issuance of Common Stock	-	-	0.81	-	-	-
Common Dividends Paid	-2,364	-928.85	-823.67	-603.54	-254.22	-890.1
Other Financing Activities	-326.85	-280.44	-755	-606.46	-701.01	-709.63
Financing Cash Flow	7,898	3,415	-977.84	60.31	-929.02	-66.35
Net Cash Flow	2,576	844.12	-1,029	1,150	321.53	-1,857
Free Cash Flow	6,306	7,304	4,707	3,894	3,863	4,936
Free Cash Flow Growth	1330.00%	55.17%	20.88%	0.79%	-21.73%	19.83%
Free Cash Flow Margin	18.20%	20.21%	18.41%	17.66%	19.82%	27.73%
Free Cash Flow Per Share	8.96	10.38	6.69	5.53	5.49	7.01
Cash Interest Paid	2,588	1,977	1,936	1,505	845.45	626.63
Cash Income Tax Paid	2,161	1,763	1,569	1,369	1,209	373.11
Levered Free Cash Flow	-1,107	5,492	2,292	1,715	272.51	305.71
Unlevered Free Cash Flow	255.88	6,613	3,174	2,476	731.8	775.68
Change in Working Capital	320.33	-1,074	-2,658	-2,109	-1,520	-1,076

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