Vulcabras Balance Sheet

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
Cash & Equivalents	349.67	203.97	307.66	361.02	197.2	114.64
Short-Term Investments	-	-	-	0	0	-
Cash & Short-Term Investments	349.67	203.97	307.66	361.02	197.2	114.64
Cash Growth	43.40%	-33.70%	-14.78%	83.07%	72.02%	-52.14%
Accounts Receivable	917	1,078	988.31	830.67	769.46	616.28
Other Receivables	207.78	221.28	152.24	158.61	44.76	67.82
Receivables	1,125	1,299	1,141	989.28	814.22	684.09
Inventory	986.8	834.91	648.39	583.53	567.83	493.5
Other Current Assets	48.76	40.63	31.16	26.79	13.86	7.07
Total Current Assets	2,510	2,379	2,128	1,961	1,593	1,299
Property, Plant & Equipment	676.98	663.14	542.47	435.55	397.15	319.78
Long-Term Investments	83.06	74.95	70.89	76.33	84.6	70.3
Goodwill	-	199.68	199.68	199.68	199.68	199.68
Other Intangible Assets	211.12	17.36	13.05	8.44	9.42	9.41
Long-Term Accounts Receivable	2.81	2.88	3.75	3.87	5.15	3.63
Long-Term Deferred Tax Assets	370.31	374.55	7.26	1.29	13.59	0.49
Other Long-Term Assets	169.38	167.56	28.44	89.37	218.06	92.65
Total Assets	4,024	3,879	2,993	2,775	2,521	1,995
Accounts Payable	151.92	90.36	94.95	83.78	104.93	78.01
Accrued Expenses	121.48	126.65	105.98	84.31	75.68	59.92
Current Portion of Long-Term Debt	430.76	331.93	200.21	234.5	283.64	291.5
Current Portion of Leases	9.82	9.77	7.86	8.43	8.51	7.13
Current Income Taxes Payable	57.43	72.16	55.36	39.33	19.67	8.94
Other Current Liabilities	78.19	97.27	204.53	61.33	77.55	46.83
Total Current Liabilities	849.59	728.13	668.88	511.68	569.97	494.9
Long-Term Debt	590.96	644.34	136.64	203.25	151.86	87.79
Long-Term Leases	26.46	28.66	22.43	6.86	12.06	12.65
Long-Term Deferred Tax Liabilities	1.89	1.91	1.99	2.07	17.08	2.27
Other Long-Term Liabilities	48.52	48.6	53.02	55.99	57.96	41.06
Total Liabilities	1,517	1,452	882.97	779.86	808.92	638.68
Common Stock	1,580	1,575	1,274	1,108	1,107	1,107
Additional Paid-In Capital	-	683.47	325	-	-	-
Retained Earnings	260.23	180.06	513.63	862.75	576.09	217.62
Treasury Stock	-56.95	-56.95	-45.41	-10.02	-6.12	-
Comprehensive Income & Other	723.11	45.22	43.2	33.9	34.8	31.89
Total Common Equity	2,506	2,427	2,110	1,995	1,711	1,356
Minority Interest	0.33	0.34	0.36	0.31	0.35	0.34
Shareholders' Equity	2,506	2,427	2,110	1,995	1,712	1,357
Total Liabilities & Equity	4,024	3,879	2,993	2,775	2,521	1,995
Total Debt	1,058	1,015	367.14	453.05	456.06	399.07
Net Cash (Debt)	-708.32	-810.73	-59.48	-92.02	-258.86	-284.44
Net Cash Per Share	-2.49	-2.96	-0.22	-0.37	-1.05	-1.14
Filing Date Shares Outstanding	312.84	312.63	270.79	245.24	245.26	245.76
Total Common Shares Outstanding	312.84	312.63	271.55	245.24	245.26	245.76
Working Capital	1,660	1,651	1,459	1,449	1,023	804.39
Book Value Per Share	8.01	7.76	7.77	8.13	6.98	5.52
Tangible Book Value	2,295	2,210	1,897	1,787	1,502	1,147
Tangible Book Value Per Share	7.34	7.07	6.99	7.29	6.13	4.67
Land	-	3.73	3.73	3.73	3.73	3.33
Buildings	-	202.46	190.33	165.4	156.35	131.11
Machinery	-	1,118	974.59	870.75	810.58	749.82
Construction In Progress	-	35.89	20.59	19.06	3.18	7.72
Leasehold Improvements	-	5.41	5.29	6.66	6.28	6.26

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