Fiera Milano 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	50.3	19.27	45.47	-5.6	44.36
Depreciation & Amortization	51.17	51.47	51.5	47.91	45.21
Asset Writedown & Restructuring Costs	0.98	0.16	0.82	1.28	-
Loss (Gain) From Sale of Investments	-	-0.38	-0.44	0.73	-
Loss (Gain) on Equity Investments	-8.66	-5.9	-6.93	-0.47	-
Stock-Based Compensation	0.96	1.04	-0.58	0.31	-
Other Operating Activities	19.39	7.26	-8.48	3.2	24.09
Change in Accounts Receivable	-7.27	-11.26	-8.96	-3.2	-
Change in Inventory	4.25	-5.59	0.89	0.14	-
Change in Accounts Payable	5.45	3.37	10.01	-0.25	-
Change in Income Taxes	0.81	0.77	0.67	-0.23	-
Change in Other Net Operating Assets	39.29	-2.63	13.58	-12.95	-
Operating Cash Flow	156.82	57.41	97.56	30.53	113.66
Operating Cash Flow Growth	173.15%	-41.15%	219.58%	-73.14%	-
Capital Expenditures	-2.95	-3.2	-3.53	-0.89	-1.25
Sale of Property, Plant & Equipment	-	-	-	-	0.03
Cash Acquisitions	-3.05	-	-	-	-
Sale (Purchase) of Intangibles	-5.57	-1.44	-2.81	-2.42	-4.7
Investment in Securities	5.51	5.41	0.64	-11.75	1.4
Other Investing Activities	0.01	4.95	-	-	-
Investing Cash Flow	-6.05	5.73	-5.69	-15.06	-4.51
Long-Term Debt Issued	14.79	-	-	-	98.16
Total Debt Issued	14.79	-	-	-	98.16
Short-Term Debt Repaid	-9.91	-27.8	-27.94	-8.56	-38.89
Long-Term Debt Repaid	-42.37	-73.23	-43.34	-45.4	-38.04
Total Debt Repaid	-52.27	-101.03	-71.27	-53.95	-76.93
Net Debt Issued (Repaid)	-37.48	-101.03	-71.27	-53.95	21.23
Common Dividends Paid	-14.22	-9.96	-	-	-
Other Financing Activities	8.66	20.6	-2.65	-27.54	-2.08
Financing Cash Flow	-43.04	-90.39	-73.92	-81.49	19.15
Foreign Exchange Rate Adjustments	0.01	-0.16	-0.07	-0.25	0.05
Miscellaneous Cash Flow Adjustments	-	-	-	1.81	0.05
Net Cash Flow	107.74	-27.4	17.87	-64.47	128.4
Free Cash Flow	153.87	54.21	94.03	29.64	112.42
Free Cash Flow Growth	183.83%	-42.35%	217.25%	-73.63%	-
Free Cash Flow Margin	40.51%	19.85%	33.13%	13.46%	91.92%
Free Cash Flow Per Share	-	0.76	1.32	0.41	1.57
Cash Interest Paid	13.51	12.05	13.84	13.35	12.91
Cash Income Tax Paid	2.05	2.42	1.63	0.96	0.73
Levered Free Cash Flow	142.94	37.09	85.86	29.49	51.98
Unlevered Free Cash Flow	149.64	44.66	94.65	37.67	60.39
Change in Working Capital	42.69	-15.5	16.2	-16.83	-

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