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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	27.04	24.64	19.2	14.29	11.6	5.75
Depreciation & Amortization	38.8	35.08	26.66	20.51	20.4	18.36
Loss (Gain) From Sale of Assets	0.06	0.24	1.5	-0.07	0.22	0.41
Asset Writedown & Restructuring Costs	-	-	-	-	-	-0.42
Provision & Write-off of Bad Debts	-3.36	-3.36	0.22	-0.94	0.19	-0.09
Other Operating Activities	-0.08	-0.15	4.19	4.64	-4.64	6
Change in Accounts Receivable	-1.21	8.01	0.37	-2.06	-19.27	-2.79
Change in Inventory	-1.05	0.21	-0.74	-0.54	0.42	-1.15
Change in Accounts Payable	3.36	-21.92	10.86	-1.99	25.89	5.94
Operating Cash Flow	63.56	42.74	62.26	33.84	34.8	32
Operating Cash Flow Growth	108.54%	-31.34%	83.97%	-2.76%	8.74%	41.71%
Capital Expenditures	-78.88	-91.61	-71.94	-93.56	-54.47	-26.31
Other Investing Activities	-0.05	-0.01	-	-	-0.01	-0.15
Investing Cash Flow	-78.93	-91.62	-71.94	-93.56	-54.48	-26.46
Long-Term Debt Issued	-	57.94	44.7	70.56	45.96	15.42
Total Debt Issued	42.48	57.94	44.7	70.56	45.96	15.42
Long-Term Debt Repaid	-	-21.8	-18.95	-11.04	-6.22	-9.2
Total Debt Repaid	-21.99	-21.8	-18.95	-11.04	-6.22	-9.2
Net Debt Issued (Repaid)	20.49	36.14	25.75	59.53	39.75	6.22
Issuance of Common Stock	-	-	-	13.17	-	-
Common Dividends Paid	-11.9	-11.89	-9.59	-9.49	-4.04	-1.23
Financing Cash Flow	8.6	24.25	16.16	63.21	35.71	4.99
Net Cash Flow	-6.77	-24.62	6.49	3.49	16.03	10.54
Free Cash Flow	-15.32	-48.86	-9.68	-59.72	-19.67	5.69
Free Cash Flow Margin	-3.85%	-12.20%	-2.02%	-17.04%	-6.49%	2.68%
Free Cash Flow Per Share	-0.01	-0.02	-0.00	-0.02	-0.03	0.01
Cash Interest Paid	16.17	16.17	12.09	10.98	5.43	2.47
Levered Free Cash Flow	-28.12	-58.32	-22.67	-66.82	-20.26	-1.79
Unlevered Free Cash Flow	-18.01	-48.21	-15.12	-59.95	-16.87	-0.25
Change in Working Capital	1.1	-13.7	10.49	-4.59	7.04	2

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