Vulcan Energy Resources Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Jun '22 Jun 30, 2022
Net Income	-69.58	-42.36	-26.96	-26.02	-18.85
Depreciation & Amortization	20.91	9.26	5.81	4.69	2.54
Other Amortization	0.24	0.34	0.06	0.02	0.09
Loss (Gain) From Sale of Assets	-	-	-	-	-1.98
Asset Writedown & Restructuring Costs	-	-	1.14	-	0.04
Loss (Gain) From Sale of Investments	-	-	-3.87	-	-
Loss (Gain) on Equity Investments	-	0.09	0.46	0.25	0.5
Stock-Based Compensation	4.56	0.85	1.69	0.94	4.12
Provision & Write-off of Bad Debts	-0.06	0.07	-	-	-
Other Operating Activities	5.6	-1.44	-	4.39	0.11
Change in Accounts Receivable	-3.75	-1.12	-0.79	-1.04	-0.7
Change in Accounts Payable	-5.45	5.36	-1.7	3.34	2.25
Change in Unearned Revenue	-2.11	-0.71	-	-	-
Change in Other Net Operating Assets	0.77	-0.74	1.66	-0.14	0.55
Operating Cash Flow	-47.73	-30.68	-24.33	-13.59	-11.35
Capital Expenditures	-50.23	-70.31	-92.63	-44.73	-32.18
Cash Acquisitions	-16.04	-0.37	-0.12	0.24	-31.46
Investment in Securities	0.52	-2.75	0.29	8.29	-0.73
Investing Cash Flow	-66.35	-75.98	-92.46	-36.21	-64.36
Long-Term Debt Repaid	-1.45	-1.2	-1.83	-	-0.19
Total Debt Repaid	-1.45	-1.2	-1.83	-0.57	-0.19
Net Debt Issued (Repaid)	-1.45	-1.2	-1.83	-0.57	-0.19
Issuance of Common Stock	586.19	134.03	67.35	49.98	176.21
Other Financing Activities	-44.57	-7.69	-2.77	0.48	-3.97
Financing Cash Flow	540.17	125.15	62.76	49.89	172.05
Foreign Exchange Rate Adjustments	-5.3	-0.16	-1.34	-0.53	6.57
Net Cash Flow	420.79	18.33	-55.38	-0.44	102.92
Free Cash Flow	-97.96	-100.99	-116.96	-58.32	-43.52
Free Cash Flow Margin	-1332.82%	-1243.91%	-455.82%	-482.21%	-580.71%
Free Cash Flow Per Share	-0.42	-0.56	-0.73	-0.42	-0.35
Cash Interest Paid	0.71	0.17	0.17	0.45	0.29
Cash Income Tax Paid	0.02	0.1	0.55	-	-
Levered Free Cash Flow	-44.13	-91.4	-99.2	-	-33.45
Unlevered Free Cash Flow	-43.87	-91.29	-99.1	-	-33.45
Change in Working Capital	-9.41	2.51	-2.65	2.15	2.1

Source: S&P Global Market Intelligence. Standard template. Financial Sources.