Banca Mediolanum 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	1,238	1,120	821.87	506.83	713.06
Depreciation & Amortization	52.28	59.24	66.65	67.2	48.9
Provision for Credit Losses	26.29	30.63	32.75	22.42	26.77
Other Adjustments	-70.85	294.57	346.33	-573.96	-962.95
Changes in Trading Assets	-3,768	-2,148	-1,407	-798.75	-5,866
Changes in Trading Liabilities	2,111	1,935	795.3	-530.36	4,518
Changes in Accounts Payable	-2,451	303.19	-1,072	2,788	6,738
Changes in Accrued Expenses	-55.13	160.18	176.21	126.94	-370.94
Changes in Other Operating Activities	3,308	-601.8	-1,514	689.93	-3,935
Operating Cash Flow	389.84	1,152	-1,754	2,298	909.3
Operating Cash Flow Growth	-66.16%	-	-	152.75%	3631.08%
Net Change in Securities and Investments	22	36.13	28.34	25.42	22.66
Capital Expenditures	-7.77	-15.56	-13.28	-19.24	-3.56
Purchases of Intangible Assets	-35.71	-40.92	-38.99	-37.46	-37.56
Sale of Property, Plant & Equipment	1.15	4.83	-	-2.79	-19.69
Investing Cash Flow	-20.34	-15.52	-23.93	-34.06	-38.14
Issuance of Common Stock	0.21	2.17	1.74	0.93	0.74
Repurchase of Common Stock	16.84	-57.63	13.48	5.58	5
Net Common Stock Issued (Repurchased)	17.05	-55.46	15.22	6.51	5.74
Common Dividends Paid	-909.17	-584.9	-400.86	-438.02	-743.71
Financing Cash Flow	-892.12	-640.36	-385.65	-431.51	-737.97
Net Cash Flow	-522.62	496.31	-2,164	1,833	133.19
Free Cash Flow	382.08	1,137	-1,767	2,279	905.75
Free Cash Flow Growth	-66.39%	-	-	151.62%	6412.87%
FCF Margin	-39.78%	-42.97%	-94.35%	164.99%	56.65%
Free Cash Flow Per Share	0.51	1.52	-2.38	3.06	1.23