Newtree S.A. (EBR:NEWT)

Newtree Cash Flow Statement

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

Fiscal Year	FY 2004
Period Ending	Dec 31, 2004
Net Income	0.06
Depreciation & Amortization	0.02
Change in Accounts Receivable	-0.04
Change in Inventory	-0.05
Change in Income Taxes	0.01
Change in Other Net Operating Assets	-0.05
Operating Cash Flow	-0.04
Capital Expenditures	-0
Sale (Purchase) of Intangibles	-0.04
Investment in Securities	-0.01
Investing Cash Flow	-0.06
Long-Term Debt Repaid	-0.03
Net Debt Issued (Repaid)	-0.03
Issuance of Common Stock	0.18
Financing Cash Flow	0.15
Net Cash Flow	0.05
Free Cash Flow	-0.04
Free Cash Flow Margin	-3.73%
Free Cash Flow Per Share	-0.07
Levered Free Cash Flow	-0.1
Unlevered Free Cash Flow	-0.1
Change in Working Capital	-0.12

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