Akzo Nobel Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	58	542	442	352	829	630	Upgrade
Depreciation & Amortization	374	371	357	368	351	361	Upgrade
Asset Writedown & Restructuring Costs	8	-	4	6	3	10	Upgrade
Loss (Gain) on Equity Investments	-35	-23	-27	-18	-26	-25	Upgrade
Other Operating Activities	71	-18	149	128	2	128	Upgrade
Change in Accounts Receivable	12	12	-111	-95	-240	-14	Upgrade
Change in Inventory	-83	-83	131	-134	-439	-84	Upgrade
Change in Accounts Payable	-135	-135	234	-280	274	282	Upgrade
Change in Other Net Operating Assets	581	7	-53	-64	-149	-68	Upgrade
Operating Cash Flow	849	668	1,120	254	604	1,217	Upgrade
Operating Cash Flow Growth	0.83%	-40.36%	340.94%	-57.95%	-50.37%	5191.30%	Upgrade
Capital Expenditures	-323	-306	-286	-292	-288	-258	Upgrade
Cash Acquisitions	2	2	-114	-588	-73	-113	Upgrade
Divestitures	5	1	96	36	22	31	Upgrade
Investment in Securities	222	103	78	-277	191	-112	Upgrade
Other Investing Activities	88	68	82	26	14	25	Upgrade
Investing Cash Flow	-6	-132	-144	-1,095	-134	-427	Upgrade
Long-Term Debt Issued	-	2,807	5,836	9,511	1,143	970	Upgrade
Long-Term Debt Repaid	-	-3,102	-6,295	-7,322	-590	-339	Upgrade
Net Debt Issued (Repaid)	-960	-295	-459	2,189	553	631	Upgrade
Repurchase of Common Stock	-	-	-	-669	-1,135	-555	Upgrade
Common Dividends Paid	-354	-338	-343	-379	-364	-366	Upgrade
Other Financing Activities	-64	-51	-25	-	-28	-63	Upgrade
Financing Cash Flow	-1,378	-684	-827	1,141	-974	-353	Upgrade
Foreign Exchange Rate Adjustments	-44	-32	-94	-14	35	-66	Upgrade
Net Cash Flow	-579	-180	55	286	-469	371	Upgrade
Free Cash Flow	526	362	834	-38	316	959	Upgrade
Free Cash Flow Growth	-1.87%	-56.59%	-	-	-67.05%	-	Upgrade
Free Cash Flow Margin	5.05%	3.38%	7.82%	-0.35%	3.30%	11.24%	Upgrade
Free Cash Flow Per Share	3.06	2.11	4.87	-0.22	1.70	4.99	Upgrade
Cash Interest Paid	176	174	167	78	77	47	Upgrade
Cash Income Tax Paid	249	291	295	224	222	165	Upgrade
Levered Free Cash Flow	307.63	181.25	929.13	49.5	124.38	948.13	Upgrade
Unlevered Free Cash Flow	425.75	300	1,050	115.75	170.63	986.88	Upgrade
Change in Working Capital	375	-199	201	-573	-554	116	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.