S.C. IOR 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jan '25 Jan 1, 2025	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	1.41	-	-	-	-
Depreciation & Amortization	3.62	-	-	-	-
Other Operating Activities	0.5	-	-	-	-
Change in Accounts Receivable	0.78	-	-	-	-
Change in Inventory	19.89	-	-	-	-
Change in Accounts Payable	-43.56	-	-	-	-
Change in Other Net Operating Assets	1.79	-	-	-	-
Operating Cash Flow	-15.58	-	-	-	-
Capital Expenditures	-2.22	-	-	-	-
Other Investing Activities	0.09	-	-	-	-
Investing Cash Flow	-2.13	-	-	-	-
Long-Term Debt Issued	16.09	-	-	-	-
Long-Term Debt Repaid	-2.7	-	-	-	-
Net Debt Issued (Repaid)	13.39	-	-	-	-
Issuance of Common Stock	22.03	-	-	-	-
Financing Cash Flow	35.42	-	-	-	-
Foreign Exchange Rate Adjustments	-0.17	-	-	-	-
Net Cash Flow	17.53	-	-	-	-
Free Cash Flow	-17.8	-	-	-	-
Free Cash Flow Margin	-41.84%	-	-	-	-
Free Cash Flow Per Share	-0.03	-	-	-	-
Cash Income Tax Paid	0.26	-	-	-	-
Levered Free Cash Flow	-5.92	-	-	-	-
Unlevered Free Cash Flow	-5.45	-	-	-	-
Change in Working Capital	-21.11	-	-	-	-

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