| BRL billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 4.6 | 20.5 | 15.5 | (1.1) | 9.6 | 11.1 | +15.4% | |
| Depreciation & amortization | 7.8 | 9.0 | 9.9 | 10.7 | 11.8 | 12.6 | +6.9% | |
| Stock-based compensation | (0.0) | 0.1 | 0.0 | 0.0 | 0.1 | 0.0 | −100.0% | |
| Change in working capital | (2.0) | (20.8) | (8.9) | 3.4 | (7.3) | (11.9) | −61.5% | |
| Operating cash flow | 23.8 | 21.5 | 13.3 | 11.5 | 23.6 | 15.5 | −34.2% | |
| Capital expenditure | (6.0) | (9.6) | (11.2) | (7.5) | (8.1) | (11.4) | −40.6% | |
| Acquisitions | (2.2) | (9.3) | (2.0) | (0.0) | (0.0) | 0.4 | +1354.7% | |
| Investing cash flow | (7.8) | (18.9) | (13.1) | (7.0) | (7.7) | (12.6) | −62.4% | |
| Dividends paid | (1.4) | (7.4) | (4.4) | (2.2) | (4.4) | (8.8) | −98.6% | |
| Share buybacks | (1.3) | (10.6) | (3.6) | 0.0 | (0.0) | (3.2) | −7074.4% | |
| Debt issued / repaid | (5.6) | 17.7 | 0.3 | 7.4 | (1.7) | 7.1 | +532.7% | |
| Financing cash flow | (9.0) | (0.8) | (8.8) | 5.0 | (7.3) | (10.0) | −36.7% | |
| Free cash flow | 17.8 | 11.9 | 2.1 | 4.0 | 15.5 | 4.1 | −73.3% | |
| Net change in cash | 9.6 | 3.6 | (10.1) | 8.9 | 12.6 | (5.7) | −145.2% |
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.
