EPA:GLE 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	7,032	5,129	3,449	2,756	6,338
Depreciation & Amortization	10,287	10,086	7,710	5,342	5,444
Provision for Credit Losses	201	-492	-346	-18	684
Other Adjustments	18,432	16,665	12,002	22,651	12,501
Changes in Trading Assets	-75,150	-24,116	9,753	28,161	-10,144
Changes in Securities Borrowed	31,087	-19,026	-18,239	-11,795	-2,154
Changes in Accounts Payable	-9,529	7,014	23,841	3,632	3,841
Changes in Other Operating Activities	8,535	4,358	6,802	-6,130	11,043
Operating Cash Flow	-19,648	-10,098	37,423	39,081	21,006
Operating Cash Flow Growth	-	-	-4.24%	86.05%	-73.99%
Net Change in Securities and Investments	-19,077	-2,310	-206	578	-3,532
Proceeds from Business Divestments	-220	-139	-101	-168	-41
Capital Expenditures	-9,361	-11,433	-11,867	-9,579	-6,466
Investing Cash Flow	-28,438	-13,743	-12,073	-9,001	-9,998
Common Dividends Paid	-4,778	-1,428	-3,928	-712	-4,894
Other Financing Activities	-3,782	155	26	498	436
Financing Cash Flow	-8,560	-1,273	-3,902	-214	-4,458
Foreign Exchange Rate Adjustments	2,948	1,700	4,748	5,368	957
Net Cash Flow	-65,792	-22,878	19,128	32,220	8,704
Free Cash Flow	-29,009	-21,531	25,556	29,502	14,540
Free Cash Flow Growth	-	-	-13.38%	102.90%	-80.66%
FCF Margin	-112.54%	-85.24%	106.13%	115.66%	57.93%
Free Cash Flow Per Share	-37.37	-27.08	31.97	35.87	17.18