Saipem 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	310	306	179	-209	-2,467
Depreciation & Amortization	1,037	675	460	441	400
Loss (Gain) From Sale of Assets	-	-18	34	-121	-
Asset Writedown & Restructuring Costs	-	48	29	1	95
Loss (Gain) From Sale of Investments	-	95	-51	72	5
Loss (Gain) on Equity Investments	-	-52	-56	-7	-14
Other Operating Activities	150	63	125	-198	-70
Change in Accounts Receivable	-	-640	202	-444	838
Change in Inventory	-	-50	-45	-13	30
Change in Accounts Payable	-	636	20	567	117
Change in Other Net Operating Assets	6	-2	-311	-734	1,069
Operating Cash Flow	1,504	1,061	586	-477	90
Operating Cash Flow Growth	41.75%	81.06%	-	-	-26.83%
Capital Expenditures	-364	-326	-472	-513	-231
Sale of Property, Plant & Equipment	-	26	58	6	13
Divestitures	119	13	63	497	-
Sale (Purchase) of Intangibles	-	-11	-10	-10	-15
Investment in Securities	-18	-244	186	52	-206
Other Investing Activities	-	-	-	-27	-52
Investing Cash Flow	-263	-542	-175	5	-490
Short-Term Debt Issued	-	-	-	-	147
Long-Term Debt Issued	-	581	1,939	1,330	606
Total Debt Issued	-	581	1,939	1,330	753
Short-Term Debt Repaid	-	-39	-60	-263	-
Long-Term Debt Repaid	-1,299	-1,019	-2,161	-2,114	-381
Total Debt Repaid	-1,299	-1,058	-2,221	-2,377	-381
Net Debt Issued (Repaid)	-1,299	-477	-282	-1,047	372
Repurchase of Common Stock	-40	-65	-	-	-15
Common Dividends Paid	-333	-	-	-	-26
Other Financing Activities	-90	-2	-	1,918	-
Financing Cash Flow	-1,762	-544	-282	871	331
Foreign Exchange Rate Adjustments	-	47	-45	21	14
Net Cash Flow	-521	22	84	420	-55
Free Cash Flow	1,140	735	114	-990	-141
Free Cash Flow Growth	55.10%	544.74%	-	-	-
Free Cash Flow Margin	7.36%	5.05%	0.96%	-9.91%	-2.16%
Free Cash Flow Per Share	-	0.33	0.06	-1.05	-7.14
Cash Interest Paid	-	180	150	116	108
Cash Income Tax Paid	-	196	134	165	107
Levered Free Cash Flow	1,891	729.25	230.88	-198.63	-429
Unlevered Free Cash Flow	2,009	842.38	331.5	-109.88	-355.25
Change in Working Capital	6	-56	-134	-624	2,054

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