BVB:TTS 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	-13.14	19.08	283.54	164.06	60.25	44.25
Depreciation & Amortization	93.91	103.56	86.09	72.94	61.59	51.99
Loss (Gain) From Sale of Assets	1.32	1.27	-0.63	2.48	-1.59	-3.69
Asset Writedown & Restructuring Costs	-2.5	-2.6	-2.36	4.8	-2.63	-4.31
Loss (Gain) on Equity Investments	-0.49	-0.27	-1.46	-0.52	-0.36	0.59
Stock-Based Compensation	-	-	2.97	-	-	-
Provision & Write-off of Bad Debts	-6.13	-6.43	6.16	3.36	7	-
Other Operating Activities	3.98	-5.36	32.1	30.07	-0.02	10.82
Change in Accounts Receivable	-32.19	9.07	18.43	-60.7	11.23	14.49
Change in Inventory	3.42	9.57	4.73	-10.17	-8.66	7.98
Change in Accounts Payable	23.45	-28.79	-17.69	18.45	-4.72	-14.62
Operating Cash Flow	71.61	99.11	411.87	224.76	122.08	107.5
Operating Cash Flow Growth	-61.35%	-75.94%	83.25%	84.11%	13.56%	-1.54%
Capital Expenditures	-160.65	-137.35	-249.53	-120.82	-97.24	-73.11
Sale of Property, Plant & Equipment	6.33	1.54	7.99	4.49	5.93	5.6
Cash Acquisitions	-	-	-106.98	-	-	-
Investment in Securities	35.91	35.91	-35.91	-	-0.23	3.11
Other Investing Activities	-32.57	9.83	16.47	1.31	0.21	-
Investing Cash Flow	-149.49	-90.08	-367.96	-115.03	-91.33	-64.4
Long-Term Debt Issued	-	22.52	57.45	24.48	19.94	-
Total Debt Issued	89.79	22.52	57.45	24.48	19.94	-
Long-Term Debt Repaid	-	-23.59	-14.54	-24.8	-26.1	-35.04
Net Debt Issued (Repaid)	50.27	-1.06	42.9	-0.33	-6.16	-35.04
Repurchase of Common Stock	-	-2.97	-	-	-	-
Common Dividends Paid	-27.88	-68.31	-33	-17.85	-16.2	-15.3
Other Financing Activities	-0.03	-1.16	-6.14	-4.42	-4.64	-
Financing Cash Flow	22.37	-73.5	3.77	-22.6	-27	-50.34
Net Cash Flow	-55.51	-64.47	47.68	87.13	3.74	-7.23
Free Cash Flow	-89.04	-38.25	162.35	103.94	24.84	34.39
Free Cash Flow Growth	-	-	56.19%	318.52%	-27.79%	-11.74%
Free Cash Flow Margin	-13.85%	-5.16%	13.72%	10.89%	4.15%	6.61%
Free Cash Flow Per Share	-0.81	-0.38	0.90	0.58	0.14	0.19
Cash Interest Paid	8.33	5.39	3.8	3.11	1.49	2.06
Cash Income Tax Paid	5.26	14.92	33.48	15.52	11.39	3.67
Levered Free Cash Flow	-86.17	-19.74	98.78	35.36	9.74	32.43
Unlevered Free Cash Flow	-80.94	-16.37	101.16	37.31	10.67	33.94
Change in Working Capital	-5.32	-10.15	5.47	-52.42	-2.15	7.85

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.