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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	8,729	8,462	9,580	3,524	3,121	2,306
Depreciation & Amortization	2,135	2,018	2,532	2,658	2,331	2,156
Other Amortization	187.73	190.33	144.61	133.02	119.36	97.64
Loss (Gain) on Equity Investments	-45.12	-48.15	-35.32	-32.39	-24.55	-22.08
Asset Writedown	162.77	162.12	31.2	-117.25	-99.26	-70.65
Change in Accounts Receivable	1,471	1,503	-442.31	-835.32	-489.89	-742.26
Change in Inventory	-24.13	24.22	-13.79	38.24	-10.74	-8.66
Change in Accounts Payable	-395.01	-1,083	-437.69	-394.19	-220.46	-245.5
Change in Income Taxes	-539.64	-369.65	-40.97	-64.93	154.05	-57.18
Change in Other Net Operating Assets	-1,247	-176.89	-139.28	-1,402	-1,542	-466.83
Other Operating Activities	-2,391	-2,384	-4,331	695.22	-154.02	323.98
Operating Cash Flow	8,022	8,361	7,405	4,854	3,968	3,914
Operating Cash Flow Growth	12.87%	12.92%	52.53%	22.35%	1.38%	-21.38%
Capital Expenditures	-17,247	-13,740	-8,031	-147.25	-73.67	-50.28
Sale (Purchase) of Intangibles	-	-	-	-3,991	-3,551	-3,697
Investment in Securities	-9,444	-1,953	-1,962	-749.47	755.51	1,076
Other Investing Activities	-9.01	-10.56	17.23	-17.47	-9.01	7.28
Investing Cash Flow	-27,003	-15,704	-9,976	-4,906	-2,878	-2,663
Long-Term Debt Issued	-	18,336	6,871	2,371	2,807	2,923
Long-Term Debt Repaid	-	-4,296	-2,246	-1,771	-1,537	-2,897
Net Debt Issued (Repaid)	23,853	14,040	4,624	600.02	1,270	26.21
Issuance of Common Stock	-	-	-	0.81	-	-
Repurchase of Common Stock	-475.39	-475.39	-	-	-	-
Common Dividends Paid	-2,364	-2,364	-928.85	-823.67	-603.54	-254.22
Other Financing Activities	-2,133	-877.94	-280.44	-755	-606.46	-701.01
Financing Cash Flow	18,881	10,323	3,415	-977.84	60.31	-929.02
Net Cash Flow	-99.91	2,981	844.12	-1,029	1,150	321.53
Free Cash Flow	-9,225	-5,379	-626.11	4,707	3,894	3,863
Free Cash Flow Growth	-	-	-	20.88%	0.79%	-21.73%
Free Cash Flow Margin	-23.28%	-14.12%	-1.73%	18.41%	17.66%	19.82%
Free Cash Flow Per Share	-2.60	-1.52	-0.18	1.34	1.10	1.10
Cash Interest Paid	3,146	2,696	1,977	1,936	1,505	845.45
Cash Income Tax Paid	2,767	2,518	1,763	1,569	1,369	1,209
Levered Free Cash Flow	-10,153	-4,161	5,536	2,292	1,715	272.51
Unlevered Free Cash Flow	-7,616	-2,000	6,657	3,174	2,476	731.8
Change in Working Capital	-734.62	-101.99	-1,074	-2,658	-2,109	-1,520

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