Unipol Assicurazioni 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	1,482	1,074	1,101	525	626.6
Depreciation & Amortization	780	54	53	51	49.7
Gain (Loss) on Sale of Investments	-874	-611	-1,705	-729	-
Change in Accounts Receivable	-	-	-	-	16.3
Change in Insurance Reserves / Liabilities	1,892	914	587	1,093	-
Change in Other Net Operating Assets	-	-	-1	-	-312.2
Other Operating Activities	1,313	1,086	1,502	782	1,263
Operating Cash Flow	4,593	2,517	1,537	1,722	1,644
Operating Cash Flow Growth	82.48%	63.76%	-10.74%	4.76%	132.09%
Capital Expenditures	-539	-924	-1,293	-817	-235.1
Cash Acquisitions	-	-589	-114	-	0.1
Investment in Securities	-3,166	-1,563	-595	-1,439	1,077
Other Investing Activities	585	353	616	621	96.8
Investing Cash Flow	-3,150	-2,768	-1,410	-1,901	594.8
Long-Term Debt Issued	-	505	392	472	-
Total Debt Repaid	-1,002	-	-116	-80	-888.4
Net Debt Issued (Repaid)	-1,002	505	276	392	-888.4
Issuance of Common Stock	-	-	1	-	2.2
Repurchases of Common Stock	-21	-8	-	-4	-
Common Dividends Paid	-953	-297	-265	-321	-401.4
Other Financing Activities	-	-54	-123	-25	-106.7
Financing Cash Flow	-1,976	146	-111	42	-1,394
Net Cash Flow	-533	-105	16	-137	844.2
Free Cash Flow	4,054	1,593	244	905	1,409
Free Cash Flow Growth	154.49%	552.87%	-73.04%	-35.75%	179.98%
Free Cash Flow Margin	36.95%	15.27%	2.34%	10.10%	9.67%
Free Cash Flow Per Share	5.65	2.23	0.34	1.27	1.97
Cash Interest Paid	250	264	206	181	-
Cash Income Tax Paid	379	260	100	317	72.4
Levered Free Cash Flow	2,269	441.25	1,182	-14,499	907.5
Unlevered Free Cash Flow	2,387	580.63	1,298	-14,404	1,008
Change in Working Capital	1,892	914	586	1,093	-295.9

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