Sphera Franchise Group 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	57.53	96.78	71.19	37.56	18.43	-9.69
Depreciation & Amortization	124.32	112.7	104.96	102.4	96.19	88.44
Loss (Gain) From Sale of Assets	-1.78	-1.02	-0.84	-0.15	0.01	-0.48
Asset Writedown & Restructuring Costs	0.83	0.83	5.27	4.74	-	6.83
Stock-Based Compensation	1.7	1.83	1.86	0.94	-	-
Other Operating Activities	7.68	1.43	4.9	-3.51	-3.42	-14.19
Change in Accounts Receivable	-1.84	1.01	5.57	7.53	-13.77	30.15
Change in Inventory	-0.15	-1.44	0.95	-2.52	-2.29	0.53
Change in Accounts Payable	-0.36	11.1	15.66	6.45	11.72	9.01
Operating Cash Flow	187.94	223.22	209.52	153.43	106.87	110.6
Operating Cash Flow Growth	-15.54%	6.54%	36.56%	43.56%	-3.37%	-5.13%
Capital Expenditures	-52.09	-51.69	-51.37	-51.97	-55.82	-33.38
Sale of Property, Plant & Equipment	0.54	0.35	0.72	0.18	-	0.13
Sale (Purchase) of Intangibles	-9.33	-6.48	-6.91	-3.26	-4.63	-2.98
Other Investing Activities	-	-	-	-	-	0
Investing Cash Flow	-60.88	-57.82	-57.56	-55.05	-60.45	-36.23
Long-Term Debt Issued	-	44.08	21.63	21.1	65.22	58.31
Long-Term Debt Repaid	-	-106.85	-137.51	-102.56	-52.3	-54.3
Net Debt Issued (Repaid)	-65.04	-62.77	-115.88	-81.46	12.93	4.02
Repurchase of Common Stock	-5.75	-4.79	-2.04	-	-	-
Common Dividends Paid	-79.67	-79.78	-63.75	-34.71	-34.66	-13.67
Other Financing Activities	-0.6	-0.56	-0.39	-0.25	-0.35	0
Financing Cash Flow	-151.04	-147.91	-182.06	-116.42	-22.09	-9.66
Foreign Exchange Rate Adjustments	0.05	0.13	0.15	0.01	-0.13	-0.08
Miscellaneous Cash Flow Adjustments	-0	-	-	-	-	-
Net Cash Flow	-23.94	17.62	-29.94	-18.03	24.21	64.64
Free Cash Flow	135.85	171.52	158.15	101.46	51.06	77.22
Free Cash Flow Growth	-19.21%	8.46%	55.88%	98.72%	-33.88%	65.18%
Free Cash Flow Margin	8.71%	11.06%	10.76%	7.67%	5.10%	10.86%
Free Cash Flow Per Share	3.52	4.43	4.09	2.62	1.32	1.99
Cash Interest Paid	22.9	24.18	23.41	19.84	14.48	13.96
Cash Income Tax Paid	18.18	20.07	10.56	5.02	2.73	2.62
Levered Free Cash Flow	115.02	141.16	110.41	107.97	40.83	107.08
Unlevered Free Cash Flow	129.15	156.22	125.12	120.9	50.11	115.89
Change in Working Capital	-2.34	10.67	22.18	11.46	-4.33	39.69

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