Iren SpA 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	300.55	268.47	254.75	226.02	303.17
Depreciation & Amortization	716.27	649.88	600.93	522.59	478.32
Other Amortization	-	5.6	-	-	-
Loss (Gain) on Sale of Assets	-	5.39	5.65	-0.56	0.83
Loss (Gain) on Equity Investments	-	-7.47	-6.84	-11.76	-10.29
Asset Writedown	-	13.54	-6.26	-3.72	18.68
Change in Accounts Receivable	-	-332	28.48	-401.94	-353.59
Change in Inventory	-	-12.61	65.52	-25.75	-48.57
Change in Accounts Payable	-	126.16	-664.68	600.24	533.76
Change in Income Taxes	-	7.53	63.51	-44.83	-144.45
Change in Unearned Revenue	-	9.34	40.43	-50.05	61.12
Change in Other Net Operating Assets	-322.86	-	-	-	-
Other Operating Activities	383.91	22.34	300.53	210.26	57.98
Operating Cash Flow	1,078	1,083	680.3	1,083	950.47
Operating Cash Flow Growth	-0.49%	59.22%	-37.19%	13.95%	15.75%
Capital Expenditures	-925.41	-830.22	-866.61	-897.57	-757.78
Cash Acquisitions	-479.04	8	-39.57	-213.98	-60.42
Investment in Securities	2.73	-80.87	15.01	-33.5	2.52
Other Investing Activities	3.96	2.04	4.55	2.94	3.88
Investing Cash Flow	-1,398	-901.04	-886.62	-1,142	-811.79
Long-Term Debt Issued	-	1,000	342.45	780	205
Long-Term Debt Repaid	-	-676.63	-100.99	-439.05	-323.02
Net Debt Issued (Repaid)	-	323.37	241.46	340.95	-118.02
Issuance of Common Stock	311.5	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-4.04
Common Dividends Paid	-	-189.78	-176.58	-157.61	-149.46
Other Financing Activities	-130.61	-425.29	-210.83	57.22	-150.44
Financing Cash Flow	180.89	-291.7	-145.95	240.56	-421.96
Net Cash Flow	-139	-109.57	-352.27	181.51	-283.28
Free Cash Flow	152.45	252.96	-186.31	185.49	192.7
Free Cash Flow Growth	-39.73%	-	-	-3.74%	41.73%
Free Cash Flow Margin	2.32%	4.21%	-2.91%	2.39%	3.92%
Free Cash Flow Per Share	0.12	0.20	-0.14	0.14	0.15
Cash Interest Paid	-	125.31	95.85	90.88	75.93
Cash Income Tax Paid	115.2	174.78	72.37	194.27	102.55
Levered Free Cash Flow	-329.67	-137.32	-156.55	173	-139.99
Unlevered Free Cash Flow	-238.33	-48.87	-86.61	210.88	-107.67
Change in Working Capital	-322.86	50.95	-536.89	77.67	48.28

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.