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Consolidated statements of cash flows - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Income before income taxes R$ 273,462 R$ 335,054 R$ 186,937
Adjustments to reconcile income before income taxes      
Depreciation and amortization 154,220 108,744 73,152
Disposals of property and equipment 1,604 78
Disposals of intangible 2,374
Allowance for doubtful accounts 47,819 32,081 15,040
Share-based compensation expense 43,377 32,610 18,114
Net foreign exchange differences 17,973 4,613 (13,321)
Net loss (gain) on derivatives (20,739) 1,780
Accrued interest 108,437 25,543 24,002
Accrued lease interest 67,212 44,458 31,469
Share of income of associate (11,797) (7,698) (2,362)
Provision for legal proceedings 10,664 5,354 (2,568)
Changes in assets and liabilities      
Trade receivables (79,665) (164,286) (35,556)
Inventories (3,720) (3,110) (236)
Recoverable taxes (2,327) (13,709) (3,940)
Other assets (19,425) (23,902) (7,403)
Trade payables 14,479 4,475 3,029
Taxes payables (14,902) (552) 4,940
Advances from customers 36,009 (1,951) 19,324
Labor and social obligations 23,449 11,125 6,124
Other liabilities (2,693) 22,771 (10,881)
 Total 666,550 390,881 307,722
Income taxes paid (35,683) (19,374) (8,506)
Net cash flows from operating activities 630,867 371,507 299,216
Investing activities      
Acquisition of property and equipment (125,869) (89,832) (56,964)
Dividends received 11,770
Acquisition of intangibles assets (150,931) (47,753) (64,745)
Restricted cash 8,103 14,788 7,530
Payments of notes payable (11,068) (5,974)
Acquisition of subsidiaries, net of cash acquired (1,006,057) (913,991) (241,568)
Loans to related parties 1,598
Net cash flows used in investing activities (1,274,052) (1,042,762) (354,149)
Financing activities      
Issuance of loans and financing 809,539 605,041 7,383
Payments of loans and financing (158,076) (155,090) (75,093)
Payments of lease liabilities (87,751) (55,455) (39,779)
Treasury shares (213,722)
Capital increase 5,444 167,628
Dividends paid to non-controlling interests (18,648) (12,984) (51,812)
Proceeds from  shares public offering 389,170 992,778
Share-based compensation plan receipts 33,336
Share issuance costs (19,704) (79,670)
Net cash flows from (used in) financing activities 364,678 756,422 921,435
Net foreign exchange differences (17,973) 16,666 14,447
Net increase in cash and cash equivalents (296,480) 101,833 880,949
Cash and cash equivalents at the beginning of the year 1,045,042 943,209 62,260
Cash and cash equivalents at the end of the year R$ 748,562 R$ 1,045,042 R$ 943,209