Aquila Part Prod Com Cash Flow Statement

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

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	90.12	96.92	85.22	70.74
Depreciation & Amortization	60.62	47.9	50.2	50.46
Loss (Gain) From Sale of Assets	-2.68	-3.15	-1.81	-1.04
Provision & Write-off of Bad Debts	8.85	25.57	19.78	-2.69
Other Operating Activities	-13.11	-20.01	-3.85	0.05
Change in Accounts Receivable	-67.18	-49.29	-31.61	18.79
Change in Inventory	-80.05	-13.54	-24.78	-2.53
Change in Accounts Payable	52.88	35.59	-26.98	-10.52
Change in Unearned Revenue	0.01	0.34	-0.1	-0.64
Change in Other Net Operating Assets	23.83	-20.1	2.86	-17.11
Operating Cash Flow	73.28	100.22	68.94	105.52
Operating Cash Flow Growth	-26.88%	45.38%	-34.67%	24.58%
Capital Expenditures	-18.66	-11.6	-14.96	-9.01
Sale of Property, Plant & Equipment	-	-	2.19	2.01
Cash Acquisitions	-76.2	-2.5	-	-19.48
Sale (Purchase) of Real Estate	-5.25	-	-	-
Investment in Securities	148	-25	35	-195
Other Investing Activities	18.07	21.19	13.91	8.49
Investing Cash Flow	65.96	-17.92	36.14	-213
Short-Term Debt Issued	6.87	9.88	-	-
Long-Term Debt Issued	4.49	-	-	-
Total Debt Issued	11.36	9.88	-	-
Short-Term Debt Repaid	-9.9	-	-	-162.96
Long-Term Debt Repaid	-47.2	-41.81	-45	-45.51
Total Debt Repaid	-57.1	-41.81	-45	-208.47
Net Debt Issued (Repaid)	-45.74	-31.92	-45	-208.47
Issuance of Common Stock	-	-	-	354.16
Common Dividends Paid	-84.93	-48.88	-84.55	-21.4
Other Financing Activities	0	-	-	-
Financing Cash Flow	-130.67	-80.8	-129.55	124.3
Net Cash Flow	8.57	1.5	-24.47	16.82
Free Cash Flow	54.62	88.62	53.98	96.51
Free Cash Flow Growth	-38.36%	64.17%	-44.07%	28.16%
Free Cash Flow Margin	1.85%	3.53%	2.44%	5.00%
Free Cash Flow Per Share	0.05	0.07	0.04	0.09
Cash Interest Paid	12.27	6.71	2.77	5.79
Cash Income Tax Paid	26.47	23.04	12.69	9.82
Levered Free Cash Flow	11.49	51.22	23.66	84.09
Unlevered Free Cash Flow	19.16	55.42	25.39	87.71
Change in Working Capital	-70.52	-47.01	-80.61	-12

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