BVMF:TRBL11 Cash Flow Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	2013 - 2017
Period Ending	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	2013 - 2017
Net Income	42.46	10.57	80.77	46.08	23.48	Upgrade
Depreciation & Amortization	6.05	-	-	-	-	Upgrade
Other Operating Activities	12.62	39.62	-50.74	-102.4	-11.56	Upgrade
Operating Cash Flow	61.13	50.19	30.04	-56.33	11.93	Upgrade
Operating Cash Flow Growth	21.78%	67.09%	-	-	22.20%	Upgrade
Acquisition of Real Estate Assets	-168.89	-232.95	-49.76	-37.07	-	Upgrade
Net Sale / Acq. of Real Estate Assets	-168.89	-232.95	-49.76	-37.07	-	Upgrade
Investment in Marketable & Equity Securities	-1.14	10.41	-50.23	-	-	Upgrade
Other Investing Activities	155.83	-	-	-	-	Upgrade
Investing Cash Flow	-14.2	-222.54	-99.98	-37.07	-	Upgrade
Issuance of Common Stock	0.56	56.84	-	129.5	-	Upgrade
Common Dividends Paid	-59.09	-47.04	-29.57	-30.49	-11.93	Upgrade
Other Financing Activities	-	-5.1	99.47	-5.57	-	Upgrade
Net Cash Flow	-11.61	-167.66	-0.04	0.05	-0	Upgrade
Cash Income Tax Paid	0.3	0.62	0.72	1	0.27	Upgrade
Levered Free Cash Flow	-80.11	170	26.23	105.23	-67.46	Upgrade
Unlevered Free Cash Flow	-80.11	170	26.23	105.23	-67.46	Upgrade
Change in Net Working Capital	111.17	-137.96	-7.22	-85.46	75.97	Upgrade

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