| BRL billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 4.1 | 32.9 | 24.2 | 10.2 | 17.3 | 23.7 | +37.2% | |
| Depreciation & amortization | 5.9 | 5.8 | 5.7 | 6.5 | 6.7 | 7.1 | +4.9% | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | 38.9 | (219.3) | (67.7) | (99.7) | (208.2) | (240.6) | −15.6% | |
| Operating cash flow | 142.4 | (102.0) | 41.8 | (0.2) | (91.3) | (310.8) | −240.3% | |
| Capital expenditure | (4.3) | (4.4) | (9.4) | (9.1) | (2.3) | (5.0) | −118.7% | |
| Acquisitions | (3.2) | (0.2) | (0.6) | (0.1) | (0.2) | 0.0 | +100.0% | |
| Investing cash flow | 20.5 | (19.3) | (17.8) | 83.6 | (5.0) | 59.8 | +1293.4% | |
| Dividends paid | (1.4) | (9.9) | (3.7) | (8.9) | (6.5) | (11.8) | −80.9% | |
| Share buybacks | 0.0 | (0.7) | (0.2) | 0.0 | (0.6) | (0.2) | +60.9% | |
| Debt issued / repaid | (24.8) | 18.3 | 40.6 | 14.1 | 0.3 | 40.1 | +13707.5% | |
| Financing cash flow | (36.4) | (1.6) | 21.9 | (23.1) | 117.9 | 236.5 | +100.7% | |
| Free cash flow | 138.2 | (106.4) | 32.4 | (9.3) | (93.6) | (315.8) | −237.3% | |
| Net change in cash | 128.9 | (119.4) | 46.8 | 60.6 | 21.2 | (14.5) | −168.3% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in BRL; the shares trade in USD.
