S.P.E.E.H. Hidroelectrica Cash Flow Statement

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

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	2,910	4,128	6,365	4,464	3,116	1,558
Depreciation & Amortization	931.6	944.46	1,036	772.15	760.5	720.53
Loss (Gain) on Sale of Assets	-1.32	6.25	5.28	2.05	3.61	6.51
Asset Writedown	3.96	-	-	23.87	359.33	105.97
Change in Accounts Receivable	154.28	1,348	-1,777	-730.61	-332.32	-9.64
Change in Inventory	-9.68	-12.61	-3.12	-7.77	-2.05	-3.79
Change in Accounts Payable	8.56	21.35	119.83	91.04	30.4	-12.73
Change in Unearned Revenue	24.33	25.59	-4.66	-5.68	-2.86	-5.49
Change in Other Net Operating Assets	36.96	296.14	-3.84	-207.87	186.15	98.11
Other Operating Activities	-338.25	-470.44	-393.13	-209.33	-82.78	-180.89
Operating Cash Flow	3,765	6,353	5,425	4,235	4,047	2,277
Operating Cash Flow Growth	-44.74%	17.11%	28.08%	4.64%	77.78%	-5.96%
Capital Expenditures	-305.54	-284.09	-189.41	-169.01	-176.81	-167.32
Sale of Property, Plant & Equipment	6.55	-	-	0.2	-	0.49
Cash Acquisitions	-	-67.88	-	-	-598.26	9.43
Sale (Purchase) of Intangibles	-21	-0.32	-1.27	-1.24	-2.39	-2.39
Investment in Securities	919.01	1,253	-1,320	-792.86	-818.41	5
Other Investing Activities	284.82	305.88	281.28	212.04	53.92	63.77
Investing Cash Flow	883.84	1,207	-1,229	-750.86	-1,542	-91.02
Long-Term Debt Issued	-	-	-	-	635.22	-
Long-Term Debt Repaid	-	-98.79	-101.56	-97.67	-104.37	-50.92
Net Debt Issued (Repaid)	-101.59	-98.79	-101.56	-97.67	530.85	-50.92
Issuance of Common Stock	-	-	2.68	-	0.02	0.42
Common Dividends Paid	-4,042	-6,287	-4,349	-3,831	-2,286	-2,003
Financing Cash Flow	-4,144	-6,386	-4,448	-3,929	-1,756	-2,054
Net Cash Flow	504.59	1,174	-253.1	-444.16	750.05	131.87
Free Cash Flow	3,459	6,069	5,235	4,066	3,871	2,109
Free Cash Flow Growth	-47.19%	15.93%	28.74%	5.05%	83.50%	-7.68%
Free Cash Flow Margin	40.45%	66.05%	42.95%	42.96%	59.65%	54.91%
Free Cash Flow Per Share	7.69	13.49	11.65	9.07	8.63	4.71
Cash Interest Paid	13.82	18.84	15.19	2.66	1.63	1.5
Cash Income Tax Paid	553.43	836.25	1,200	928.25	675.89	453.3
Levered Free Cash Flow	2,908	4,697	3,658	3,156	2,865	1,865
Unlevered Free Cash Flow	2,922	4,714	3,675	3,163	2,875	1,871
Change in Working Capital	214.45	1,679	-1,669	-860.88	-120.68	66.46

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.