Sphera Franchise Group 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	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	56.34	96.78	71.19	37.56	18.43
Depreciation & Amortization	123.72	112.7	104.96	102.4	96.19
Loss (Gain) From Sale of Assets	-2.99	-1.02	-0.84	-0.15	0.01
Asset Writedown & Restructuring Costs	7.34	0.83	5.27	4.74	-
Stock-Based Compensation	1.02	1.83	1.86	0.94	-
Other Operating Activities	5.51	1.43	4.9	-3.51	-3.42
Change in Accounts Receivable	-2.17	1.01	5.57	7.53	-13.77
Change in Inventory	-0.71	-1.44	0.95	-2.52	-2.29
Change in Accounts Payable	8.96	11.1	15.66	6.45	11.72
Operating Cash Flow	197.01	223.22	209.52	153.43	106.87
Operating Cash Flow Growth	-11.74%	6.54%	36.56%	43.56%	-3.37%
Capital Expenditures	-60.03	-51.69	-51.37	-51.97	-55.82
Sale of Property, Plant & Equipment	0.13	0.35	0.72	0.18	-
Sale (Purchase) of Intangibles	-8.6	-6.48	-6.91	-3.26	-4.63
Investing Cash Flow	-68.5	-57.82	-57.56	-55.05	-60.45
Long-Term Debt Issued	54.21	44.08	21.63	21.1	65.22
Long-Term Debt Repaid	-113.2	-106.85	-137.51	-102.56	-52.3
Net Debt Issued (Repaid)	-59	-62.77	-115.88	-81.46	12.93
Repurchase of Common Stock	-2.88	-4.79	-2.04	-	-
Common Dividends Paid	-78.84	-79.78	-63.75	-34.71	-34.66
Other Financing Activities	-0.63	-0.56	-0.39	-0.25	-0.35
Financing Cash Flow	-141.34	-147.91	-182.06	-116.42	-22.09
Foreign Exchange Rate Adjustments	-0.39	0.13	0.15	0.01	-0.13
Net Cash Flow	-13.21	17.62	-29.94	-18.03	24.21
Free Cash Flow	136.98	171.52	158.15	101.46	51.06
Free Cash Flow Growth	-20.14%	8.46%	55.88%	98.72%	-33.88%
Free Cash Flow Margin	8.68%	11.06%	10.76%	7.67%	5.10%
Free Cash Flow Per Share	3.54	4.43	4.09	2.62	1.32
Cash Interest Paid	21.95	24.18	23.41	19.84	14.48
Cash Income Tax Paid	17.58	20.07	10.56	5.02	2.73
Levered Free Cash Flow	117.24	141.16	110.41	107.97	40.83
Unlevered Free Cash Flow	130.52	156.22	125.12	120.9	50.11
Change in Working Capital	6.08	10.67	22.18	11.46	-4.33

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