BVMF:XPCM11 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	2015 - 2013
Period Ending	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016	2015 - 2013
Net Income	61.05	-28.63	28.93	28.59	12.31	Upgrade
Other Operating Activities	-32.57	53.64	-5.57	-5.41	12.05	Upgrade
Operating Cash Flow	28.48	25.01	23.36	23.18	24.36	Upgrade
Operating Cash Flow Growth	13.88%	7.07%	0.79%	-4.87%	6.42%	Upgrade
Common Dividends Paid	-25.91	-24.34	-23.17	-22.72	-24	Upgrade
Other Financing Activities	-2.5	-	-	-	-	Upgrade
Net Cash Flow	0.08	0.67	0.19	0.46	0.36	Upgrade
Cash Income Tax Paid	0.03	0.06	0.06	0.08	-	Upgrade
Levered Free Cash Flow	22.7	16.75	14.67	17.98	16.9	Upgrade
Unlevered Free Cash Flow	22.7	16.75	14.67	17.98	16.9	Upgrade
Change in Net Working Capital	19.75	-0.26	-0.13	-2.15	-1.88	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.