EPA:ELEC 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	157.99	150.42	93.36	54.95	58.89
Depreciation & Amortization	65.32	42.81	58.52	59.37	59.6
Other Amortization	-	8.87	-	-	-
Loss (Gain) on Sale of Assets	0.97	0.77	1.43	0.67	6.8
Loss (Gain) on Equity Investments	-2.76	-3.64	-3.02	-1.61	-0.94
Asset Writedown	-	4.52	0	-	0.01
Change in Accounts Receivable	-	11.14	-99.5	-65.87	-86.27
Change in Inventory	-	11.08	-0.18	-29.74	4.6
Change in Accounts Payable	-	-	-	-	6.32
Change in Other Net Operating Assets	46.97	-48.5	-29.38	122.21	100.39
Other Operating Activities	-15.6	20.63	7.95	4.43	-2.64
Operating Cash Flow	252.89	198.09	29.18	144.4	146.76
Operating Cash Flow Growth	27.66%	578.88%	-79.79%	-1.61%	48.32%
Capital Expenditures	-78.17	-71.01	-69.91	-64.49	-64.39
Sale of Property, Plant & Equipment	0.09	0.23	0.08	0.11	0.06
Cash Acquisitions	-2.65	-	-0.16	0.32	-3.59
Divestitures	-	1.13	-	-	-
Sale (Purchase) of Intangibles	-14.12	-16.06	-10.24	-10.05	-15.11
Investment in Securities	9.42	-28.87	-56.82	83.44	9.28
Other Investing Activities	0.58	0.94	0.44	0.52	0.36
Investing Cash Flow	-84.84	-113.63	-136.61	9.85	-73.4
Long-Term Debt Issued	0.25	1.31	1.4	1.5	0.54
Long-Term Debt Repaid	-1.02	-1.16	-1.13	-1.17	-1.13
Net Debt Issued (Repaid)	-0.77	0.15	0.28	0.34	-0.59
Common Dividends Paid	-78.86	-61.66	-19	-41.58	-33.7
Other Financing Activities	6.31	5.87	4.04	1.82	-0.24
Financing Cash Flow	-73.33	-55.64	-14.68	-39.42	-34.52
Miscellaneous Cash Flow Adjustments	-6.68	27.23	58.5	-85.03	-7.27
Net Cash Flow	88.04	56.05	-63.61	29.79	31.57
Free Cash Flow	174.72	127.08	-40.73	79.91	82.37
Free Cash Flow Growth	37.49%	-	-	-2.99%	53.22%
Free Cash Flow Margin	13.14%	8.95%	-2.43%	6.18%	9.46%
Free Cash Flow Per Share	24.37	17.73	-5.68	11.15	11.49
Cash Income Tax Paid	-	48.93	25.91	15.04	24.35
Levered Free Cash Flow	38.56	170.11	-63.73	-38.17	51.23
Unlevered Free Cash Flow	38.68	170.23	-63.61	-38.05	51.39
Change in Working Capital	46.97	-26.29	-129.07	26.59	25.04

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