BVB:EAI Cash Flow Statement

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

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	99.86	57.44	37.85	20.07
Depreciation & Amortization	9.65	9.1	7.41	6.65
Other Amortization	1.11	1.3	1.31	1.04
Loss (Gain) From Sale of Assets	-0.06	-	-0.07	-0.17
Provision & Write-off of Bad Debts	1.75	0.93	0.91	2.3
Other Operating Activities	2.34	1.05	-3.28	2.07
Change in Accounts Receivable	-205.55	6.6	-32.34	-32.78
Change in Inventory	-4.25	-7.66	-6.03	-15.82
Change in Accounts Payable	103.72	-45.82	55.08	30.91
Change in Unearned Revenue	35.51	-10.19	25.73	5.29
Change in Other Net Operating Assets	1.77	17.92	1.01	6.35
Operating Cash Flow	45.85	30.67	87.58	25.91
Operating Cash Flow Growth	49.49%	-64.98%	238.05%	-
Capital Expenditures	-12.22	-29.51	-6.73	-2.57
Sale of Property, Plant & Equipment	0.09	-	0.08	0.17
Sale (Purchase) of Real Estate	-4.68	-8.67	-11.43	-
Investment in Securities	-0.51	-0.25	-	-
Other Investing Activities	-62.27	-5.38	-1.01	-2.12
Investing Cash Flow	-79.59	-43.8	-19.09	-4.52
Long-Term Debt Issued	45.83	34.68	9.71	37.41
Long-Term Debt Repaid	-10.27	-10.78	-17.98	-40.31
Net Debt Issued (Repaid)	35.56	23.89	-8.27	-2.9
Common Dividends Paid	-13.67	-6.17	-7.54	-0.41
Other Financing Activities	-0	-	-	-
Financing Cash Flow	21.88	17.72	-15.82	-3.31
Miscellaneous Cash Flow Adjustments	0	-0	-0	-0
Net Cash Flow	-11.86	4.59	52.67	18.08
Free Cash Flow	33.63	1.16	80.85	23.34
Free Cash Flow Growth	2793.52%	-98.56%	246.43%	-
Free Cash Flow Margin	4.04%	0.18%	18.55%	9.00%
Free Cash Flow Per Share	0.27	0.46	31.66	9.14
Cash Interest Paid	2.52	1.84	1.19	1.16
Cash Income Tax Paid	9.5	7.18	7.34	0.78
Levered Free Cash Flow	33.34	-9.37	68.04	-
Unlevered Free Cash Flow	34.94	-8.15	68.78	-
Change in Working Capital	-68.81	-39.15	43.44	-6.05

Source: S&P Global Market Intelligence. Standard template. Financial Sources.