Italian Wine Brands 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	16.25	22.34	16.3	11.24	14.54
Depreciation & Amortization	9.32	9.12	11.96	9.67	6.95
Other Amortization	-	0.85	-	-	-
Provision & Write-off of Bad Debts	0.31	0.86	1.6	0.8	1.15
Other Operating Activities	5.02	9.46	4.78	4.09	0.44
Change in Accounts Receivable	10.76	0.66	7.87	17.82	-0.63
Change in Inventory	-1.7	12.72	22.66	-3.01	-14.64
Change in Accounts Payable	9.9	-19.09	-22.93	-17.21	19.56
Change in Other Net Operating Assets	-0.35	5.37	1.25	1.03	-18.77
Operating Cash Flow	49.52	42.27	43.5	24.44	8.59
Operating Cash Flow Growth	17.15%	-2.83%	77.99%	184.56%	-45.76%
Capital Expenditures	-4.84	-1.66	-4.26	-6.3	-2.84
Cash Acquisitions	9.08	-	-	-48.86	-149.23
Sale (Purchase) of Intangibles	-3.42	-3.35	-3.36	-3.63	-3.48
Investment in Securities	0	-	-	-	2.86
Other Investing Activities	-	-	-	0	-
Investing Cash Flow	0.83	-5.02	-7.62	-58.79	-152.68
Short-Term Debt Issued	-	-	3	12.5	32.54
Long-Term Debt Issued	-	-	-	14.12	130
Total Debt Issued	-	-	3	26.63	162.54
Short-Term Debt Repaid	-	-7.03	-10.25	-10.02	-
Long-Term Debt Repaid	-9.24	-35.96	-18.69	-3.25	-32.58
Total Debt Repaid	-9.24	-42.99	-28.94	-13.27	-32.58
Net Debt Issued (Repaid)	-9.24	-42.99	-25.94	13.36	129.96
Issuance of Common Stock	-	-	-	26.32	45.5
Repurchase of Common Stock	-3.16	-1.67	-0.98	-1.45	-0.05
Common Dividends Paid	-9.36	-4.71	-0.94	-0.88	-4.79
Other Financing Activities	2.07	0.72	1.84	-1.06	-0.82
Financing Cash Flow	-19.69	-48.65	-26.03	36.29	169.79
Miscellaneous Cash Flow Adjustments	-	-0	0	-0	-
Net Cash Flow	30.66	-11.4	9.85	1.95	25.7
Free Cash Flow	44.68	40.61	39.24	18.14	5.75
Free Cash Flow Growth	10.04%	3.50%	116.28%	215.37%	-59.20%
Free Cash Flow Margin	11.19%	10.10%	9.14%	4.64%	1.82%
Free Cash Flow Per Share	-	4.34	4.18	1.92	0.65
Cash Income Tax Paid	-	2.54	1.99	1.89	6.2
Levered Free Cash Flow	41.83	22.4	30.6	-7.47	3.02
Unlevered Free Cash Flow	48.48	25.66	34.95	-4.71	5.19
Change in Working Capital	18.61	-0.35	8.85	-1.36	-14.49

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