Bradespar 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	546.99	1,192	1,897	3,728	8,079	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-0.03	-	Upgrade
Loss (Gain) on Equity Investments	-571.26	-1,188	-1,894	-3,698	-8,081	Upgrade
Other Operating Activities	-19.06	-12.61	-10.86	-20.56	-5.01	Upgrade
Change in Income Taxes	-54.54	-37.18	-32.62	-30.67	-24.37	Upgrade
Change in Other Net Operating Assets	767.88	835.44	1,030	1,284	4,283	Upgrade
Operating Cash Flow	670.02	790.04	989.17	1,262	4,252	Upgrade
Operating Cash Flow Growth	-15.19%	-20.13%	-21.60%	-70.33%	334.57%	Upgrade
Capital Expenditures	-	-1.1	-0	-0.2	-	Upgrade
Sale of Property, Plant & Equipment	-	-	-	0.07	-	Upgrade
Investing Cash Flow	-	-1.1	-0	-0.13	-	Upgrade
Common Dividends Paid	-939.56	-747.2	-1,152	-1,145	-4,020	Upgrade
Financing Cash Flow	-939.56	-747.2	-1,152	-1,145	-4,020	Upgrade
Net Cash Flow	-269.55	41.75	-162.5	116.25	232.15	Upgrade
Free Cash Flow	670.02	788.94	989.16	1,262	4,252	Upgrade
Free Cash Flow Growth	-15.07%	-20.24%	-21.59%	-70.34%	334.57%	Upgrade
Free Cash Flow Per Share	1.70	2.01	2.52	3.21	10.82	Upgrade
Cash Income Tax Paid	54.54	37.18	32.62	30.67	24.37	Upgrade
Levered Free Cash Flow	-309.77	-41.83	-327.67	260.12	327.45	Upgrade
Unlevered Free Cash Flow	-309.77	-41.83	-327.67	260.12	328.02	Upgrade
Change in Working Capital	713.34	798.26	997.5	1,253	4,259	Upgrade

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