Lulu Retail Holdings Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
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
Net Income	204.53	249.2	221.77	14.05	7.55
Depreciation & Amortization	-	378.77	415.84	404.59	387.92
Loss (Gain) From Sale of Assets	-	-0.17	-18.1	-1.87	-3.2
Asset Writedown & Restructuring Costs	-	3.56	17.85	-	0.01
Provision & Write-off of Bad Debts	-	-	0.45	-	-
Other Operating Activities	391.83	-67.61	-209.08	25.01	5.84
Change in Accounts Receivable	-	-49.75	-81.59	-113.62	-57.78
Change in Inventory	-	-99.03	20.57	-98.81	-10.35
Change in Accounts Payable	-	-71.08	22.45	94.86	57.99
Change in Other Net Operating Assets	-	-23.96	-304.92	-133.93	57.04
Operating Cash Flow	596.36	358.13	139.38	202.94	462.51
Operating Cash Flow Growth	66.52%	156.94%	-31.32%	-56.12%	-
Capital Expenditures	-	-141.71	-155.1	-162.81	-224.33
Sale of Property, Plant & Equipment	-	4.99	1.23	0.81	11.78
Sale (Purchase) of Real Estate	-	-0.03	-1.14	-0.5	7.4
Other Investing Activities	-130.24	-	-	-	-
Investing Cash Flow	-130.24	-136.75	-155	-162.5	-205.15
Short-Term Debt Issued	-	-	1,016	509.66	511.5
Long-Term Debt Issued	-	2,331	3,257	-	-
Total Debt Issued	-	2,331	4,273	509.66	511.5
Short-Term Debt Repaid	-	-343.95	-135.8	-	-
Long-Term Debt Repaid	-	-2,138	-4,283	-401.15	-722.29
Total Debt Repaid	-	-2,482	-4,419	-401.15	-722.29
Net Debt Issued (Repaid)	-	-151.39	-145.75	108.51	-210.79
Common Dividends Paid	-	-	-	-30.5	-37.09
Other Financing Activities	-484.09	-	-	-	-
Financing Cash Flow	-484.09	-151.39	-145.75	78.01	-247.87
Foreign Exchange Rate Adjustments	1.3	-2.65	-1.16	-3.63	-2.42
Net Cash Flow	-16.67	67.34	-162.53	114.82	7.07
Free Cash Flow	596.36	216.42	-15.72	40.13	238.18
Free Cash Flow Growth	175.56%	-	-	-83.15%	-
Free Cash Flow Margin	7.52%	2.84%	-0.22%	0.58%	3.77%
Free Cash Flow Per Share	0.06	0.02	-0.00	0.00	0.02
Cash Interest Paid	-	159.84	271.57	251.58	194.61
Cash Income Tax Paid	-	32.87	19.97	19.47	15.82
Levered Free Cash Flow	841.81	317.97	1,319	428.81	-
Unlevered Free Cash Flow	943.19	416.62	1,480	574.42	-
Change in Working Capital	-	-243.81	-343.49	-251.5	46.91

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.