Aena S.M.E. Cash Flow 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
Net Income	2,898	2,859	2,556	2,166	1,170	-722.34
Depreciation & Amortization	790.54	796.9	847.81	821.19	795.18	796.62
Other Adjustments	-0.37	-9.72	-40.3	-120.68	73.95	763.19
Change in Receivables	-83.6	-50.1	-150.6	-57.36	-18.79	-551.94
Changes in Inventories	-0.43	-0.03	0.96	-0.52	-0.29	0.67
Changes in Accounts Payable	8.6	-37.35	94.78	23.56	116.29	70.89
Changes in Other Operating Activities	-739.53	-770.81	-561.39	-612.27	-272.79	-76.62
Operating Cash Flow	2,875	2,787	2,747	2,220	1,863	280.47
Operating Cash Flow Growth	1.11%	1.47%	23.75%	19.14%	564.30%	91.79%
Capital Expenditures	-749.7	-721.81	-739.83	-546.41	-535.38	-616.19
Sale of Property, Plant & Equipment	6.89	42.46	28.66	-	1.43	-
Purchases of Intangible Assets	-406.84	-338.99	-85.36	-837.91	-192.75	-56.46
Purchases of Investments	-434.61	-432.67	-51.4	-81.86	-9.71	-14.64
Proceeds from Sale of Investments	70.85	66.46	39.36	8.91	45.6	5.17
Proceeds from Business Divestments	-	0.77	-	-	-	15.8
Other Investing Activities	31.34	37.63	4.22	38.16	26.66	5.41
Investing Cash Flow	-1,453	-1,346	-804.35	-1,419	-664.16	-660.91
Long-Term Debt Issued	838.41	1,717	522.78	2,214	364.1	1,200
Long-Term Debt Repaid	-1,325	-1,437	-1,759	-1,630	-1,437	-609.87
Net Long-Term Debt Issued (Repaid)	-486.45	280.11	-1,237	584.18	-1,073	590.13
Common Dividends Paid	-760.05	-1,498	-1,183	-724.25	-	-
Other Financing Activities	12.52	7.85	-9.65	120.47	-16.07	29.68
Financing Cash Flow	-717.42	-1,210	-2,429	-19.61	-1,089	619.81
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1.11	-5.07	-55.28	8.51	-3	2.55
Net Cash Flow	704.02	226.39	-541.84	789.6	106.73	241.92
Free Cash Flow	2,126	2,066	2,007	1,673	1,328	-335.72
Free Cash Flow Growth	2.91%	2.92%	19.94%	26.03%	-	-
FCF Margin	32.71%	32.78%	34.69%	32.85%	31.68%	-13.71%
Free Cash Flow Per Share	6.69	1.38	1.34	1.12	0.89	-0.22
Levered Free Cash Flow	987.81	1,684	339.93	1,901	-68.7	290.06
Unlevered Free Cash Flow	1,603	1,551	1,697	1,358	1,098	-317.95

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.