S.N.T.G.N. Transgaz 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	874.9	404.13	195.83	351.9	178.15
Depreciation & Amortization	546.54	511.33	474.94	430.06	357.85
Other Amortization	-	9.96	7.36	5.35	1.89
Loss (Gain) From Sale of Assets	0.15	0.18	-0.12	-0.45	-0.74
Asset Writedown & Restructuring Costs	-	2.06	-	-	-
Provision & Write-off of Bad Debts	-13.73	-10.12	110.3	42.13	90.59
Other Operating Activities	-212.74	-145.49	-245.95	-429.05	-177.91
Change in Accounts Receivable	-57.24	-116.33	-126.08	110.45	-75.16
Change in Inventory	15.83	64.42	18.7	-320.64	-171.97
Change in Accounts Payable	103.03	-18.21	98.74	326.1	389.36
Operating Cash Flow	1,257	701.94	533.71	515.85	592.05
Operating Cash Flow Growth	79.04%	31.52%	3.46%	-12.87%	82.48%
Capital Expenditures	-31.86	-21.68	-20.15	-18.8	-47.3
Sale of Property, Plant & Equipment	-	0.11	0.23	0.48	0.86
Sale (Purchase) of Intangibles	-1,477	-1,755	-236.04	-598.24	-941.37
Investment in Securities	-173.33	-	-	-	-
Other Investing Activities	21.19	12.49	4.32	133.21	206.42
Investing Cash Flow	-1,661	-1,764	-251.65	-483.36	-781.39
Short-Term Debt Issued	31.36	2.17	175.43	291.74	-
Long-Term Debt Issued	555	1,418	246.61	-	403.25
Total Debt Issued	586.36	1,420	422.04	291.74	403.25
Short-Term Debt Repaid	-	-	-	-	-20.29
Long-Term Debt Repaid	-198.19	-199.2	-154.28	-148.64	-74.88
Total Debt Repaid	-198.19	-199.2	-154.28	-148.64	-95.17
Net Debt Issued (Repaid)	388.17	1,221	267.77	143.1	308.08
Issuance of Common Stock	-	-	-	3.21	103.09
Common Dividends Paid	-203.33	-66.08	-132.4	-175.09	-96.32
Other Financing Activities	-5.13	260.6	-123.67	-	-
Financing Cash Flow	179.71	1,415	11.69	-28.79	314.84
Miscellaneous Cash Flow Adjustments	-	-0	-	-	-
Net Cash Flow	-224.81	353.44	293.75	3.71	125.5
Free Cash Flow	1,225	680.25	513.56	497.05	544.75
Free Cash Flow Growth	80.06%	32.46%	3.32%	-8.76%	87.83%
Free Cash Flow Margin	28.01%	15.84%	22.38%	17.41%	21.89%
Free Cash Flow Per Share	6.68	3.61	2.73	2.64	2.89
Cash Interest Paid	176.48	138.54	128.15	69.6	7.37
Cash Income Tax Paid	119.09	35.64	81	77.53	24.1
Levered Free Cash Flow	-682.86	-1,001	439.56	-162.99	-392.07
Unlevered Free Cash Flow	-595.71	-940.07	505.25	-127.75	-383.14
Change in Working Capital	61.61	-70.12	-8.64	115.92	142.23

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