Santierul Naval Constanta 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	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	-50.65	-51.9	7.61	18.91	-8.75
Depreciation & Amortization	8.04	7.36	6.06	5.64	6.17
Loss (Gain) From Sale of Assets	0	0	0.19	0.06	-
Provision & Write-off of Bad Debts	1.35	-	1.48	0.81	-
Other Operating Activities	2.39	44.9	11.43	-24.38	35.55
Change in Accounts Receivable	5.87	-3.31	8.91	-10.32	7.31
Change in Inventory	76.1	-123.43	-94.92	93.46	-83.52
Change in Accounts Payable	-53.3	143.97	104.02	-46.56	22.4
Operating Cash Flow	-10.2	17.59	44.78	37.62	-20.84
Operating Cash Flow Growth	-	-60.72%	19.03%	-	-
Capital Expenditures	-16.03	-13.89	-16.83	-0.99	-3.18
Other Investing Activities	0.7	0.24	0.56	0.03	0
Investing Cash Flow	-15.33	-13.65	-16.27	-0.96	-3.18
Short-Term Debt Issued	4.5	31.42	-	0.74	38.37
Long-Term Debt Issued	71.73	111.96	-	-	0.03
Total Debt Issued	76.22	143.38	-	0.74	38.4
Short-Term Debt Repaid	-	-	-33.1	-48.52	-
Long-Term Debt Repaid	-68.47	-140.63	-	-	-
Total Debt Repaid	-68.47	-140.63	-33.1	-48.52	-
Net Debt Issued (Repaid)	7.75	2.75	-33.1	-47.78	38.4
Financing Cash Flow	7.75	2.75	-33.1	-47.78	38.4
Miscellaneous Cash Flow Adjustments	-0	0	0	-	-
Net Cash Flow	-17.78	6.69	-4.59	-11.12	14.38
Free Cash Flow	-26.23	3.7	27.95	36.63	-24.02
Free Cash Flow Growth	-	-86.78%	-23.71%	-	-
Free Cash Flow Margin	-8.48%	3.61%	19.13%	11.54%	-11.58%
Free Cash Flow Per Share	-0.40	-	0.43	0.56	-0.37
Cash Interest Paid	0.69	1.78	1.86	1.02	0.48
Cash Income Tax Paid	-	1.38	1.84	-	-
Levered Free Cash Flow	41.93	-109.98	-146.02	43.82	-19.43
Unlevered Free Cash Flow	42.76	-108.86	-144.86	44.64	-14.58
Change in Working Capital	28.67	17.23	18.01	36.58	-53.8