Avio S.p.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	10.48	6.09	6.49	-0.43	8.48
Depreciation & Amortization	16.81	13.87	11.89	14.74	14.37
Other Amortization	3.49	3.57	3.39	4.45	6.79
Loss (Gain) on Equity Investments	-3.03	-2.03	0.53	1.75	-2.48
Other Operating Activities	1.54	1.46	-10.29	25.01	-5.23
Change in Accounts Receivable	114.9	71.13	88.88	85.41	11.29
Change in Inventory	-0.61	-24.82	-81.85	-47.84	-14.42
Change in Accounts Payable	16.38	-3.95	23.33	12.9	10.47
Change in Other Net Operating Assets	8.13	-5.06	0.11	-30.24	12
Operating Cash Flow	168.08	60.26	42.48	65.74	41.26
Operating Cash Flow Growth	178.92%	41.85%	-35.38%	59.34%	-12.96%
Capital Expenditures	-27.75	-23.07	-23.24	-21.55	-18.32
Sale (Purchase) of Intangibles	-16.2	-12.02	-13.1	-10.97	-15.4
Sale (Purchase) of Real Estate	-0.3	-0.07	-	-	-
Investment in Securities	-	-	-2.51	-1.72	-
Other Investing Activities	-	-0	-	-	-
Investing Cash Flow	-44.25	-35.16	-38.85	-34.24	-33.71
Long-Term Debt Repaid	-2	-10	-10	-10	-10
Total Debt Repaid	-2	-10	-10	-10	-10
Net Debt Issued (Repaid)	-2	-10	-10	-10	-10
Issuance of Common Stock	386.45	-	-	-	-
Repurchase of Common Stock	-	-	-	-5.74	-
Common Dividends Paid	-3.75	-6	-	-4.5	-7.32
Other Financing Activities	-4.37	-3.01	-29.44	15.53	-10.27
Financing Cash Flow	376.33	-19.01	-39.44	-4.71	-27.59
Miscellaneous Cash Flow Adjustments	0	0	-0	-0	-
Net Cash Flow	500.16	6.09	-35.81	26.79	-20.05
Free Cash Flow	140.33	37.19	19.24	44.19	22.94
Free Cash Flow Growth	277.35%	93.29%	-56.46%	92.67%	-11.54%
Free Cash Flow Margin	24.04%	7.74%	5.60%	11.90%	7.17%
Free Cash Flow Per Share	4.55	1.43	0.74	1.75	0.87
Cash Interest Paid	-	-	0.14	0.22	0.29
Cash Income Tax Paid	3.02	-	0.05	1.5	0.41
Levered Free Cash Flow	105.18	31.52	7.43	51.14	14.92
Unlevered Free Cash Flow	105.26	32.37	7.73	51.69	15.15
Change in Working Capital	138.81	37.31	30.47	20.23	19.34

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