Avax S.A. 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 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	47.45	30.1	10.3	38.11	-14.06
Depreciation & Amortization	24.79	23.01	18.31	12.56	17
Other Amortization	0.35	-	-	-	-
Asset Writedown & Restructuring Costs	-0.38	-0.12	-0.24	-0.29	-0.52
Loss (Gain) From Sale of Investments	0.94	0.33	-	-	-
Other Operating Activities	14.11	3.48	-12.68	-46.2	12.07
Change in Accounts Receivable	-84.68	-123.66	-118.13	15.48	5.69
Change in Inventory	-32.6	-15.99	-10.5	5.68	13.81
Change in Accounts Payable	78.27	46.99	162.83	-28.48	29.39
Operating Cash Flow	48.26	-37.69	50.29	-14.45	49.86
Capital Expenditures	-11.34	-16.54	-13.25	-4.28	-6.11
Sale of Property, Plant & Equipment	0.17	1.27	3.53	1.17	4.56
Divestitures	3	5.89	11	54.4	-
Sale (Purchase) of Real Estate	-	0.15	4.83	0.5	0.19
Investment in Securities	-3.3	-24.4	-2.08	55.75	28.33
Other Investing Activities	38.77	38.73	36.24	46.72	31.7
Investing Cash Flow	13.57	54.26	35.2	157.94	72.23
Long-Term Debt Issued	210.71	385.08	-	-	-
Long-Term Debt Repaid	-201.39	-390.98	-70.99	-141.17	-64.09
Net Debt Issued (Repaid)	9.32	-5.9	-70.99	-141.17	-64.09
Repurchase of Common Stock	-0.55	-0.24	-	-	-
Common Dividends Paid	-10.37	-4.45	-10.1	-	-
Other Financing Activities	-14.94	-20.92	-16.64	-22.22	-25.72
Financing Cash Flow	-16.54	-31.51	-97.73	-163.39	-89.81
Miscellaneous Cash Flow Adjustments	0	-0	1.41	6.27	26.82
Net Cash Flow	45.29	-14.94	-10.83	-13.63	59.09
Free Cash Flow	36.92	-54.23	37.04	-18.73	43.75
Free Cash Flow Margin	3.85%	-8.32%	8.17%	-4.65%	7.39%
Free Cash Flow Per Share	0.25	-0.37	0.26	-0.13	0.30
Cash Interest Paid	14.94	20.92	16.64	22.22	24.7
Cash Income Tax Paid	12.02	10.49	8.19	5.44	4.56
Levered Free Cash Flow	37.21	-32.01	-0.15	-120.05	32.91
Unlevered Free Cash Flow	49.61	-16.17	13.13	-106.93	46.9
Change in Working Capital	-39.01	-92.66	34.21	-7.33	48.9

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