BVMF:TELB4 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	61.87	140.5	-66.57	-127.36	-168.46	-126.82
Depreciation & Amortization	258.2	264.39	270.04	253.54	242.09	254.34
Other Amortization	9.72	9.72	-	-	-	-
Asset Writedown & Restructuring Costs	0.09	0.09	2.67	0.38	16.64	-
Loss (Gain) on Equity Investments	-1	-0.37	1.01	2.25	6.5	6.27
Provision & Write-off of Bad Debts	3.06	2.81	2.75	1.31	-1.04	-0.52
Other Operating Activities	-135.74	-112.11	-74.28	70.08	98.25	75.5
Change in Accounts Receivable	-218.99	-242.19	-59.17	-72.33	-18.39	8.75
Change in Accounts Payable	-17.02	7.43	1.3	-32.38	-38.49	-20.12
Change in Income Taxes	-7	-25.53	20.63	-12.09	-28.28	-15.08
Change in Other Net Operating Assets	39.37	7.4	23.26	43.8	-22.31	-30.44
Operating Cash Flow	-7.44	52.13	121.64	127.22	86.51	151.88
Operating Cash Flow Growth	-	-57.14%	-4.39%	47.05%	-43.04%	19.59%
Capital Expenditures	-28.04	-25.58	-41.77	-77.84	-53.27	-40.01
Investment in Securities	-	39.97	-	-	-	-
Investing Cash Flow	-28.04	14.39	-41.77	-77.84	-53.27	-40.01
Long-Term Debt Repaid	-	-51.96	-50.94	-51.22	-55.23	-54.84
Net Debt Issued (Repaid)	-5.97	-51.96	-50.94	-51.22	-55.23	-54.84
Issuance of Common Stock	0.08	1.92	14.49	44.41	30.86	-
Other Financing Activities	293.64	256.64	1.26	-14.47	70.9	71.92
Financing Cash Flow	287.75	206.61	-35.19	-21.29	46.53	17.08
Net Cash Flow	252.27	273.13	44.68	28.1	79.77	128.96
Free Cash Flow	-35.47	26.55	79.86	49.39	33.24	111.88
Free Cash Flow Growth	-	-66.76%	61.71%	48.56%	-70.28%	25.74%
Free Cash Flow Margin	-6.93%	5.41%	19.28%	11.85%	9.56%	39.17%
Free Cash Flow Per Share	-0.37	0.29	0.93	0.57	0.39	1.65
Cash Interest Paid	1.09	1.09	3.27	4.49	5.82	7.11
Cash Income Tax Paid	7.89	7.89	-	6.02	-	-
Levered Free Cash Flow	832.86	71.26	21.05	-96.13	36.46	129.52
Unlevered Free Cash Flow	1,005	238.86	150.49	40.54	168.31	192.33
Change in Working Capital	-203.63	-252.9	-13.98	-73	-107.47	-56.89

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