Veolia Environnement 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	1,217	1,098	937	716	404.3
Depreciation & Amortization	3,077	3,003	3,049	3,057	2,099
Other Amortization	-	117	-	-	-
Loss (Gain) on Sale of Assets	-38	-36	-83	-299	-39.2
Loss (Gain) on Sale of Investments	-3	179	318	-310	0.4
Loss (Gain) on Equity Investments	-90	-132	-123	-128	-104.9
Asset Writedown	49	81	137	240	66.9
Change in Accounts Receivable	-	320	-	-	-
Change in Inventory	-	53	-	-	-
Change in Income Taxes	-	-24	-	-	-
Change in Other Net Operating Assets	-398	-544	82	-143	236.2
Other Operating Activities	1,336	929	710	971	500.9
Net Cash from Discontinued Operations	3	-6	-22	44	-16.6
Operating Cash Flow	5,153	5,038	5,005	4,148	3,147
Operating Cash Flow Growth	2.28%	0.66%	20.66%	31.80%	15.49%
Capital Expenditures	-3,056	-2,965	-3,140	-2,784	-1,729
Sale of Property, Plant & Equipment	199	212	318	598	316.4
Investment in Securities	-531	469	414	5,999	227.7
Other Investing Activities	105	121	157	223	223.1
Investing Cash Flow	-3,296	-2,115	-2,124	4,524	-850.6
Long-Term Debt Issued	2,766	1,462	970	879	931.4
Total Debt Issued	2,766	1,462	970	879	931.4
Short-Term Debt Repaid	-2,170	-5	-948	-4,138	-38.6
Long-Term Debt Repaid	-742	-1,233	-1,200	-2,333	-629.7
Total Debt Repaid	-2,912	-1,238	-2,148	-6,471	-668.3
Net Debt Issued (Repaid)	-146	224	-1,178	-5,592	263.1
Issuance of Common Stock	817	341	467	227	3,190
Repurchase of Common Stock	-402	-229	-	-505	-
Common Dividends Paid	-1,401	-976	-877	-775	-420.9
Other Financing Activities	-2,226	-1,217	-1,551	-3,525	-737.4
Financing Cash Flow	-3,358	-1,857	-3,139	-10,170	2,295
Foreign Exchange Rate Adjustments	-98	20	-228	46	63.2
Miscellaneous Cash Flow Adjustments	-	1	4	-26	-
Net Cash Flow	-1,599	1,087	-482	-1,478	4,654
Free Cash Flow	2,097	2,073	1,865	1,364	1,418
Free Cash Flow Growth	1.16%	11.15%	36.73%	-3.84%	27.05%
Free Cash Flow Margin	4.72%	4.64%	4.11%	3.18%	4.98%
Free Cash Flow Per Share	2.87	2.80	2.55	1.91	2.29
Cash Interest Paid	764	737	681	770	462.1
Cash Income Tax Paid	596	579	637	557	285.6
Levered Free Cash Flow	1,808	1,926	2,061	2,668	2,274
Unlevered Free Cash Flow	2,324	2,461	2,542	3,056	2,520
Change in Working Capital	-398	-195	82	-143	236.2

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.