BolognaFiere 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	13.43	3.4	0.57	-5.62	-0.46
Depreciation & Amortization	20.07	19.78	19.14	18.22	16.58
Loss (Gain) From Sale of Assets	-	-	-	-11.95	-
Asset Writedown & Restructuring Costs	-	2.13	0.85	0.86	0.33
Provision & Write-off of Bad Debts	-	3.03	1.84	0.57	1.84
Other Operating Activities	4.98	9.18	-5.41	9.5	-3.99
Change in Accounts Receivable	-0.3	-14.6	0.63	-20.83	-15.81
Change in Inventory	-1.82	-1.23	1.32	-0.72	-1
Change in Accounts Payable	8.8	1.73	-2.46	8.48	-6.8
Change in Income Taxes	-4.74	-0.55	-4.07	-2.27	8.97
Change in Other Net Operating Assets	2.46	6.62	3.65	0.85	7.07
Operating Cash Flow	42.88	31.34	16.68	-2.22	5.43
Operating Cash Flow Growth	36.85%	87.83%	-	-	-
Capital Expenditures	-16.65	-12.72	-23.19	-7.92	-11.73
Sale of Property, Plant & Equipment	0.55	-	0.31	11.99	0.11
Cash Acquisitions	-3.3	-3.05	-	-1.58	-
Divestitures	-	-	1.59	-	-
Sale (Purchase) of Intangibles	-0.82	-0.63	-0.99	-3.07	-4.56
Investment in Securities	1.79	-2.41	2.11	0.64	-3.12
Other Investing Activities	-0	-	-	-0	-
Investing Cash Flow	-18.43	-18.81	-20.18	0.05	-19.3
Long-Term Debt Issued	37.06	32.8	11.42	33.97	35.66
Total Debt Issued	37.06	32.8	11.42	33.97	35.66
Long-Term Debt Repaid	-40.8	-41.74	-21.21	-39.71	-6.48
Total Debt Repaid	-40.8	-41.74	-21.21	-39.71	-6.48
Net Debt Issued (Repaid)	-3.74	-8.94	-9.79	-5.75	29.18
Other Financing Activities	-5.04	-5.49	14.84	15.5	-0.22
Financing Cash Flow	-8.78	-14.43	5.05	9.76	28.97
Foreign Exchange Rate Adjustments	-0.68	0.49	-0.13	-0.04	-
Miscellaneous Cash Flow Adjustments	-	0	-	-	-
Net Cash Flow	15	-1.41	1.43	7.55	15.1
Free Cash Flow	26.23	18.62	-6.51	-10.14	-6.3
Free Cash Flow Growth	40.86%	-	-	-	-
Free Cash Flow Margin	8.55%	6.97%	-2.89%	-5.31%	-7.34%
Free Cash Flow Per Share	0.14	0.10	-0.04	-0.09	-0.06
Cash Income Tax Paid	-	1.81	0.63	-	-
Levered Free Cash Flow	14.38	2.28	-3.38	-12.32	-7.51
Unlevered Free Cash Flow	19.89	7.44	3.26	-8.63	-5.51
Change in Working Capital	4.4	-6.2	-0.31	-13.79	-8.88

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