D'Ieteren Group Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. 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	424.5	372.1	504.7	332.7	252.4
Depreciation & Amortization	232.2	207.7	188.1	94	46.5
Asset Writedown & Restructuring Costs	107.4	163.4	-	-	-
Loss (Gain) on Equity Investments	-323.5	-301.5	-356.7	-210.1	-184.2
Stock-Based Compensation	-0.6	51.6	53.5	24.1	9
Other Operating Activities	98.4	68.8	142.6	5.7	0.5
Change in Accounts Receivable	-15.3	69.1	-81.6	94.2	29.8
Change in Inventory	112.9	207.8	-193.4	-259.9	18.9
Change in Accounts Payable	-84.3	32.8	179.7	6.9	3
Operating Cash Flow	551.7	871.8	436.9	89.7	175.9
Operating Cash Flow Growth	-36.72%	99.54%	387.07%	-49.00%	1.91%
Capital Expenditures	-111.5	-129.8	-106.5	-77	-46.7
Sale of Property, Plant & Equipment	11.1	21.7	14.9	10.4	3.7
Cash Acquisitions	-68.8	-122.3	-60.4	-516.8	-9
Divestitures	-	-	92.1	-	-
Investment in Securities	-3.3	310.4	-236.8	417.6	-958.5
Other Investing Activities	217.9	2,294	786.4	222.9	831.8
Investing Cash Flow	45.4	2,374	489.7	57.1	-178.7
Long-Term Debt Issued	86.9	2,035	74.1	107.4	118.3
Long-Term Debt Repaid	-640.3	-1,157	-274.4	-85.2	-24.8
Net Debt Issued (Repaid)	-553.4	878.4	-200.3	22.2	93.5
Issuance of Common Stock	9.2	32.2	21.3	30.7	4.7
Repurchase of Common Stock	-106.1	-30.1	-81.6	-117.4	-13.7
Common Dividends Paid	-85.4	-4,177	-160.7	-113.6	-72.9
Other Financing Activities	-150.7	-114.5	-104	33.3	-6.4
Financing Cash Flow	-886.4	-3,411	-525.3	-144.8	5.2
Foreign Exchange Rate Adjustments	-0.4	0.2	-0.4	0.4	0.9
Miscellaneous Cash Flow Adjustments	0.5	0.4	-	-	-
Net Cash Flow	-289.2	-163.9	400.9	2.4	3.3
Free Cash Flow	440.2	742	330.4	12.7	129.2
Free Cash Flow Growth	-40.67%	124.58%	2501.58%	-90.17%	-9.84%
Free Cash Flow Margin	5.48%	9.10%	4.14%	0.27%	3.84%
Free Cash Flow Per Share	8.26	13.86	6.18	0.24	2.40
Cash Interest Paid	135.4	115.8	102.5	19.8	6.4
Cash Income Tax Paid	111.7	118.2	100	57.2	25.2
Levered Free Cash Flow	325.28	605.54	435.46	-529.81	123.15
Unlevered Free Cash Flow	400.46	674.29	495.9	-506.81	126.03
Change in Working Capital	13.3	309.7	-95.3	-158.8	51.7

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