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	387.95	378.77	415.84	404.59	387.92
Loss (Gain) From Sale of Assets	-0.29	-0.17	-18.1	-1.87	-3.2
Asset Writedown & Restructuring Costs	-	3.56	17.85	-	0.01
Provision & Write-off of Bad Debts	0.05	-	0.45	-	-
Other Operating Activities	-9.7	-49.2	-209.08	25.01	5.84
Change in Accounts Receivable	12.54	-49.75	-81.59	-113.62	-57.78
Change in Inventory	-17.48	-99.03	20.57	-98.81	-10.35
Change in Accounts Payable	-58.08	-89.48	22.45	94.86	57.99
Change in Other Net Operating Assets	76.84	-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	-138.5	-141.71	-155.1	-162.81	-224.33
Sale of Property, Plant & Equipment	4.38	4.99	1.23	0.81	11.78
Sale (Purchase) of Real Estate	-0.02	-0.03	-1.14	-0.5	7.4
Other Investing Activities	3.9	-	-	-	-
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	2,341	2,331	3,257	-	-
Total Debt Issued	2,341	2,331	4,273	509.66	511.5
Short-Term Debt Repaid	-	-343.95	-135.8	-	-
Long-Term Debt Repaid	-2,643	-2,138	-4,283	-401.15	-722.29
Total Debt Repaid	-2,643	-2,482	-4,419	-401.15	-722.29
Net Debt Issued (Repaid)	-301.28	-151.39	-145.75	108.51	-210.79
Common Dividends Paid	-182.81	-	-	-30.5	-37.09
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	457.86	216.42	-15.72	40.13	238.18
Free Cash Flow Growth	111.56%	-	-	-83.15%	-
Free Cash Flow Margin	5.77%	2.84%	-0.22%	0.58%	3.77%
Free Cash Flow Per Share	0.04	0.02	-0.00	0.00	0.02
Cash Interest Paid	149.42	159.84	271.57	251.58	194.61
Cash Income Tax Paid	29.12	14.47	19.97	19.47	15.82
Levered Free Cash Flow	410.66	317.97	1,319	428.81	-
Unlevered Free Cash Flow	509.94	416.62	1,480	574.42	-
Change in Working Capital	13.82	-262.21	-343.49	-251.5	46.91

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