Rai Way Income Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Operating Revenue	284.67	282.77	276.09	271.94	245.45	229.94
Other Revenue	1.62	1.52	0.06	0.01	0.04	0.46
Revenue	286.29	284.29	276.15	271.95	245.49	230.4
Revenue Growth (YoY)	3.24%	2.95%	1.54%	10.78%	6.55%	2.63%
Cost of Revenue	88.23	86.33	81.69	87.43	85.81	76.44
Gross Profit	198.06	197.96	194.46	184.52	159.67	153.95
Selling, General & Admin	8.19	8.19	8.34	9.34	8.44	8.33
Amortization of Goodwill & Intangibles	55.72	55.72	50.35	46.78	-	50.3
Other Operating Expenses	4.28	4.18	5.66	2.99	0.71	3.93
Operating Expenses	69.48	68.08	64.35	59.11	56.05	62.56
Operating Income	128.58	129.88	130.1	125.41	103.62	91.39
Interest Expense	-5.54	-5.54	-6.71	-5.11	-1.59	-1.06
Interest & Investment Income	0.38	0.38	0.74	1.41	0	-
Currency Exchange Gain (Loss)	0	0	-0.04	-0.06	-0.05	-0.03
Other Non Operating Income (Expenses)	-0.53	-0.33	1.27	-0.18	-0.22	-0.05
EBT Excluding Unusual Items	122.88	124.38	125.36	121.48	101.77	90.24
Merger & Restructuring Charges	-	-	-	-	-	-0.36
Pretax Income	122.88	124.38	125.36	121.48	101.77	89.89
Income Tax Expense	35.25	35.75	35.45	34.76	28.08	24.5
Net Income	87.63	88.63	89.91	86.72	73.69	65.38
Net Income to Common	87.63	88.63	89.91	86.72	73.69	65.38
Net Income Growth	-1.14%	-1.43%	3.68%	17.68%	12.70%	2.15%
Shares Outstanding (Basic)	269	269	269	268	268	268
Shares Outstanding (Diluted)	269	269	269	268	268	268
Shares Change (YoY)	-0.01%	-	0.05%	-	-	-
EPS (Basic)	0.33	0.33	0.33	0.32	0.27	0.24
EPS (Diluted)	0.33	0.33	0.33	0.32	0.27	0.24
EPS Growth	-1.16%	-	2.12%	17.68%	12.70%	2.15%
Free Cash Flow	117.53	110.43	90.35	99.58	68.12	37.98
Free Cash Flow Per Share	0.44	0.41	0.34	0.37	0.25	0.14
Dividend Per Share	0.330	0.330	0.334	0.322	0.275	0.244
Dividend Growth	-1.20%	-1.20%	3.66%	17.38%	12.68%	2.14%
Gross Margin	69.18%	69.63%	70.42%	67.85%	65.04%	66.82%
Operating Margin	44.91%	45.68%	47.11%	46.12%	42.21%	39.67%
Profit Margin	30.61%	31.18%	32.56%	31.89%	30.02%	28.38%
Free Cash Flow Margin	41.05%	38.84%	32.72%	36.61%	27.75%	16.48%
EBITDA	166.5	166.5	163.34	156.23	135.54	127.66
EBITDA Margin	58.16%	58.57%	59.15%	57.45%	55.21%	55.41%
D&A For EBITDA	37.92	36.62	33.24	30.81	31.92	36.27
EBIT	128.58	129.88	130.1	125.41	103.62	91.39
EBIT Margin	44.91%	45.68%	47.11%	46.12%	42.21%	39.67%
Effective Tax Rate	28.68%	28.74%	28.28%	28.61%	27.59%	27.26%

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