Técnicas Reunidas 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	156.74	89.94	60.95	-37.13	-190.44
Depreciation & Amortization	38.44	32.68	25.76	25.52	26.7
Other Amortization	0.25	0.23	0.18	0.34	0.46
Loss (Gain) From Sale of Assets	-	-	-	-5.72	-12.56
Asset Writedown & Restructuring Costs	-	-	-	-	0.26
Loss (Gain) on Equity Investments	0.1	0.13	0.42	0.11	1.07
Other Operating Activities	14.35	-25.85	35.09	33.46	9.18
Change in Accounts Receivable	-1,180	-84.59	360.12	-595.84	-217.43
Change in Inventory	-	-	1.2	-0.9	0.31
Change in Accounts Payable	1,051	73.49	-420.27	738.36	107.8
Change in Other Net Operating Assets	60.35	-2.97	19.73	-74.2	7.49
Operating Cash Flow	141.61	83.07	83.18	83.99	-267.17
Operating Cash Flow Growth	70.47%	-0.14%	-0.96%	-	-
Capital Expenditures	-15.63	-6.78	-13.97	-2.65	-2.38
Divestitures	-	-	-	1.54	15.11
Sale (Purchase) of Intangibles	-0.4	-0.47	-0.04	-0.11	-0.6
Investment in Securities	-0.01	-	-	-	-
Other Investing Activities	0.02	0.24	0.27	0.03	1.89
Investing Cash Flow	-16.02	-7.01	-13.74	-1.19	14.03
Long-Term Debt Issued	775.78	420.22	277.18	461.96	717.51
Long-Term Debt Repaid	-776.1	-511.82	-422.72	-252.32	-728.48
Net Debt Issued (Repaid)	-0.32	-91.59	-145.55	209.64	-10.96
Issuance of Common Stock	-	0.29	150.09	0.36	-
Repurchase of Common Stock	-0.43	-	-0.01	-	-0.55
Financing Cash Flow	-0.75	-91.3	4.53	210	-11.52
Net Cash Flow	124.84	-15.25	73.98	292.8	-264.66
Free Cash Flow	125.97	76.29	69.21	81.34	-269.55
Free Cash Flow Growth	65.14%	10.22%	-14.91%	-	-
Free Cash Flow Margin	1.95%	1.71%	1.67%	1.92%	-9.61%
Free Cash Flow Per Share	1.59	0.98	0.99	1.52	-5.02
Cash Interest Paid	69.6	53.19	43.19	28.27	19.95
Cash Income Tax Paid	9.56	93.16	47.33	16.09	57.6
Levered Free Cash Flow	90.38	99.76	-18.77	76.61	-214.62
Unlevered Free Cash Flow	116.01	124.71	5.7	92.38	-204.31
Change in Working Capital	-68.26	-14.07	-39.21	67.41	-101.84

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