BVMF:AFLT3 Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	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	2020 - 2016
Net Income	23.83	34.03	28.71	37.49	99.81	Upgrade
Depreciation & Amortization	0.15	0.19	0.2	0.17	0.08	Upgrade
Asset Writedown	-	-	0.01	0.03	-	Upgrade
Change in Accounts Receivable	-4.12	2.23	-2.85	0.02	-2.27	Upgrade
Change in Accounts Payable	-3.24	1.19	-0.98	-1	3.71	Upgrade
Change in Income Taxes	2.78	0	-0.39	-1.57	-0.34	Upgrade
Change in Other Net Operating Assets	20.85	-25.26	-5.5	-16.67	-76.29	Upgrade
Other Operating Activities	6.84	-0.97	0.4	2.22	2.84	Upgrade
Operating Cash Flow	47.09	11.42	19.6	20.7	27.53	Upgrade
Operating Cash Flow Growth	312.45%	-41.75%	-5.32%	-24.79%	3.69%	Upgrade
Capital Expenditures	-0.11	-1.43	-0.38	-1.91	-1.25	Upgrade
Investing Cash Flow	-0.11	-1.43	-0.38	-1.91	-1.25	Upgrade
Long-Term Debt Issued	-	30	-	-	-	Upgrade
Long-Term Debt Repaid	-	-0.13	-0.2	-0.2	-0.2	Upgrade
Net Debt Issued (Repaid)	-	29.87	-0.2	-0.2	-0.2	Upgrade
Common Dividends Paid	-26.05	-35.47	-37.42	-14.88	-39.67	Upgrade
Financing Cash Flow	-26.05	-5.6	-37.62	-15.08	-39.87	Upgrade
Net Cash Flow	20.93	4.39	-18.4	3.71	-13.59	Upgrade
Free Cash Flow	46.98	9.98	19.23	18.79	26.28	Upgrade
Free Cash Flow Growth	370.59%	-48.07%	2.31%	-28.49%	3.26%	Upgrade
Free Cash Flow Margin	95.57%	11.61%	28.57%	26.08%	21.84%	Upgrade
Free Cash Flow Per Share	0.74	0.16	0.30	0.30	0.42	Upgrade
Cash Interest Paid	1.33	0	0.02	0.03	0.04	Upgrade
Cash Income Tax Paid	0.75	12.31	2.44	1.52	1.52	Upgrade
Levered Free Cash Flow	3.53	16.33	9.99	28.29	47.42	Upgrade
Unlevered Free Cash Flow	4.53	16.4	10	28.31	47.44	Upgrade
Change in Working Capital	16.27	-21.84	-9.72	-19.21	-75.19	Upgrade

Source: S&P Capital IQ. Utility template. Financial Sources.