Assicurazioni Generali 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	4,663	-	4,122	2,470	4,580
Other Adjustments	6,919	-2,046	5,974	7,098	-7,005
Changes in Receivables	-32	-	103	31	81
Changes in Reinsurance Contract Assets	-712	-	-1,070	800	-
Changes in Deferred Acquisition Costs	-	-	-	-	3
Changes in Accounts Payable	977	-	-1,640	-677	2,753
Changes in Unearned Premiums	9,739	-	-5,058	4,450	230
Changes in Claims Reserves	-	-	-	-	23,130
Changes in Income Taxes Payable	-1,113	-	-806	-1,698	-1,176
Changes in Other Operating Activities	-19,981	-	2,040	-9,975	-5,115
Operating Cash Flow	19,669	15,383	1,732	10,341	17,480
Operating Cash Flow Growth	27.86%	788.16%	-83.25%	-40.84%	-9.63%
Purchases of Investments	-	-	-	-	-10,886
Proceeds from Sale of Investments	-	-	-	-	1,941
Other Investing Activities	447	-	350	-1,173	-7,349
Investing Cash Flow	-18,761	-13,817	2,283	-9,016	-16,295
Long-Term Debt Issued	46	-	572	-356	374
Net Long-Term Debt Issued (Repaid)	46	-	572	-356	374
Issuance of Common Stock	501	-	0	0	0
Repurchase of Common Stock	-833	-	-191	-500	0
Net Common Stock Issued (Repurchased)	-332	-	-191	-500	0
Common Dividends Paid	-2,171	-	-1,793	-1,909	-2,310
Other Financing Activities	622	-	-2,393	341	1,259
Financing Cash Flow	-1,834	-342	-3,804	-2,423	-677
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-80	-	-28	-	49
Net Cash Flow	-926	1,224	210	-1,098	556
Free Cash Flow	19,669	15,383	1,732	10,341	17,480
Free Cash Flow Growth	27.86%	788.16%	-83.25%	-40.84%	-9.63%
FCF Margin	31.73%	24.95%	3.12%	-609.01%	17.64%
Free Cash Flow Per Share	12.73	9.81	1.12	6.52	11.00
Levered Free Cash Flow	-6,872	3,724	-2,215	-5,221	-84
Unlevered Free Cash Flow	-5,857	5,536	-1,977	-37,220	102,244