CNTEE Transelectrica 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	328.18	580.11	217.45	521.63	1.3
Depreciation & Amortization	388.8	371.79	340.45	281.22	283.79
Loss (Gain) on Sale of Assets	0.54	2.08	0.44	0.73	0.53
Asset Writedown	-7.23	0.01	18.36	-2.96	-13.56
Change in Accounts Receivable	441.2	-1,655	1,171	-354.12	-2,177
Change in Inventory	-1.46	6.92	-8.45	-5.21	0.19
Change in Accounts Payable	-459.31	1,683	-1,210	360.75	2,134
Change in Unearned Revenue	243.83	43.5	95.96	1.96	14.9
Change in Other Net Operating Assets	-157.36	-0.51	8.67	-3.15	-4.53
Other Operating Activities	-48.23	-169.31	33.17	-302.93	-52.9
Operating Cash Flow	730.44	855.39	659.04	485.89	199.32
Operating Cash Flow Growth	-14.61%	29.79%	35.64%	143.77%	-67.34%
Capital Expenditures	-589.5	-687.11	-439.27	-465.94	-495.32
Sale of Property, Plant & Equipment	3.51	3.37	1.8	0.01	-
Other Investing Activities	60.04	65.26	125.86	14.17	95.86
Investing Cash Flow	-525.96	-618.47	-311.61	-451.76	-399.47
Short-Term Debt Issued	-	1.28	1.37	70.61	-
Total Debt Issued	-	1.28	1.37	70.61	-
Short-Term Debt Repaid	-	-	-67.62	-	-6.16
Long-Term Debt Repaid	-35.99	-36.23	-35.18	-35.08	-35.22
Total Debt Repaid	-35.99	-36.23	-102.8	-35.08	-41.37
Net Debt Issued (Repaid)	-35.99	-34.94	-101.43	35.54	-41.37
Common Dividends Paid	-278.8	-21.69	-52.78	-0.64	-63.67
Other Financing Activities	172.42	-	-	-	-
Financing Cash Flow	-142.37	-56.64	-154.21	34.9	-105.05
Net Cash Flow	62.11	180.27	193.22	69.03	-305.19
Free Cash Flow	140.94	168.28	219.77	19.94	-296
Free Cash Flow Growth	-16.25%	-23.43%	1002.05%	-	-
Free Cash Flow Margin	2.53%	2.13%	4.65%	0.32%	-7.82%
Free Cash Flow Per Share	1.92	2.30	3.00	0.27	-4.04
Cash Interest Paid	-	2.76	3.82	8.09	4.98
Cash Income Tax Paid	-	32.15	36.12	64.55	23.88
Levered Free Cash Flow	-123.54	14.11	99.87	209.07	-275.46
Unlevered Free Cash Flow	-121.33	20.37	106.08	215.87	-270.22
Change in Working Capital	66.89	77.64	57.53	0.22	-31.91

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.