Arnoldo Mondadori Editore Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	60.21	62.41	52.07	44.21
Depreciation & Amortization	32.85	28.75	23.54	22.03
Other Amortization	29.58	28.62	26.76	16.54
Loss (Gain) From Sale of Assets	-0.09	-1.16	-0.04	-0.47
Asset Writedown & Restructuring Costs	0.5	7.34	7.74	7.37
Loss (Gain) From Sale of Investments	-	-	-	0.27
Loss (Gain) on Equity Investments	-0.41	-2.96	0.2	1.51
Stock-Based Compensation	1.23	1.19	0.88	1.11
Other Operating Activities	18.59	24.2	12.23	-0.68
Change in Accounts Receivable	-3.67	19.59	14.21	9.64
Change in Inventory	3.73	1.25	-18.87	5.69
Change in Accounts Payable	5.44	-22.06	20.84	-10.22
Change in Income Taxes	-16.63	-17.51	-21.91	-9.97
Change in Other Net Operating Assets	-5.52	-0.96	-11.99	10.38
Operating Cash Flow	125.82	121.58	100.02	97.4
Operating Cash Flow Growth	3.49%	21.55%	2.69%	15.93%
Capital Expenditures	-15.48	-12.01	-9.3	-1.95
Sale of Property, Plant & Equipment	-	-	0.09	0.04
Cash Acquisitions	-16.49	-	-25.24	-160.54
Divestitures	-	8.53	-	-
Sale (Purchase) of Intangibles	-32.87	-28.45	-24.81	-15.54
Investment in Securities	2.37	2.08	-12.24	32.62
Other Investing Activities	-	-1.69	-	-
Investing Cash Flow	-62.47	-31.54	-71.5	-145.36
Long-Term Debt Issued	53.42	-	-	53.65
Long-Term Debt Repaid	-18.15	-41.38	-59.94	-14.76
Net Debt Issued (Repaid)	35.27	-41.38	-59.94	38.89
Repurchase of Common Stock	-0.53	-0.35	-0.22	-1.52
Common Dividends Paid	-31.31	-28.69	-22.16	-
Other Financing Activities	-5.23	-4.85	-1.98	-6.89
Financing Cash Flow	-1.79	-75.26	-84.3	30.48
Net Cash Flow	61.57	14.78	-55.77	-17.48
Free Cash Flow	110.34	109.57	90.73	95.45
Free Cash Flow Growth	0.70%	20.77%	-4.95%	19.83%
Free Cash Flow Margin	11.80%	12.11%	10.05%	11.82%
Free Cash Flow Per Share	0.42	0.42	0.35	0.36
Cash Interest Paid	2.55	2.14	0.48	2.2
Cash Income Tax Paid	16.63	17.51	21.91	9.97
Levered Free Cash Flow	65.19	63.88	59.81	108.98
Unlevered Free Cash Flow	71.37	69.65	60.99	110.63
Change in Working Capital	-16.65	-19.68	-17.71	5.51

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