Oil Terminal 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	-5	19.2	14.29	11.6	5.75	3.71
Depreciation & Amortization	31.19	26.66	20.51	20.4	18.36	17.83
Loss (Gain) From Sale of Assets	1.74	1.5	-0.07	0.22	0.41	0.66
Asset Writedown & Restructuring Costs	-	-	-	-	-0.42	0.42
Provision & Write-off of Bad Debts	0.35	0.22	-0.94	0.19	-0.09	0.71
Other Operating Activities	16.49	4.19	4.64	-4.64	6	0.02
Change in Accounts Receivable	-0.47	0.37	-2.06	-19.27	-2.79	-3.98
Change in Inventory	0.01	-0.74	-0.54	0.42	-1.15	0.11
Change in Accounts Payable	10.65	10.86	-1.99	25.89	5.94	3.11
Operating Cash Flow	54.96	62.26	33.84	34.8	32	22.58
Operating Cash Flow Growth	-11.20%	83.97%	-2.76%	8.74%	41.71%	4.50%
Capital Expenditures	-130.22	-71.94	-93.56	-54.47	-26.31	-23.76
Other Investing Activities	-0.01	-	-	-0.01	-0.15	-0.11
Investing Cash Flow	-130.23	-71.94	-93.56	-54.48	-26.46	-23.87
Long-Term Debt Issued	-	44.7	70.56	45.96	15.42	9.07
Total Debt Issued	76.32	44.7	70.56	45.96	15.42	9.07
Long-Term Debt Repaid	-	-18.95	-11.04	-6.22	-9.2	-5.01
Total Debt Repaid	-17.83	-18.95	-11.04	-6.22	-9.2	-5.01
Net Debt Issued (Repaid)	58.48	25.75	59.53	39.75	6.22	4.05
Issuance of Common Stock	-	-	13.17	-	-	-
Common Dividends Paid	-11.89	-9.59	-9.49	-4.04	-1.23	-1.05
Financing Cash Flow	46.6	16.16	63.21	35.71	4.99	3
Net Cash Flow	-28.67	6.49	3.49	16.03	10.54	1.71
Free Cash Flow	-75.26	-9.68	-59.72	-19.67	5.69	-1.17
Free Cash Flow Margin	-17.42%	-2.02%	-17.04%	-6.49%	2.68%	-0.61%
Free Cash Flow Per Share	-0.03	-0.00	-0.02	-0.03	0.01	-0.00
Cash Interest Paid	14.64	12.09	10.98	5.43	2.47	2.81
Levered Free Cash Flow	-99.03	-18.52	-66.82	-20.26	-1.79	-3.99
Unlevered Free Cash Flow	-89.88	-10.97	-59.95	-16.87	-0.25	-2.23
Change in Working Capital	10.19	10.49	-4.59	7.04	2	-0.76

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