ETR:HLAG 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	924.2	2,392	2,949	17,043	9,085
Depreciation & Amortization	2,239	2,072	1,932	1,904	1,463
Other Adjustments	272.3	473.4	91	483.6	232.9
Change in Receivables	151.1	-608.2	1,149	302.3	-1,383
Changes in Inventories	-19.7	-140.5	-22.9	-81.8	-139.5
Changes in Accounts Payable	-218.2	459.6	-650.7	-313.3	998.4
Changes in Income Taxes Payable	-253.3	-94.4	-138.7	-60.9	-26.4
Changes in Other Operating Activities	-307.7	147.3	245.4	421.2	180
Operating Cash Flow	2,533	4,365	4,966	19,503	10,406
Operating Cash Flow Growth	-41.98%	-12.10%	-74.54%	87.43%	259.08%
Capital Expenditures	-1,450	-2,166	-1,705	-1,441	-1,253
Sale of Property, Plant & Equipment	62	70.8	125.6	112.6	53.8
Purchases of Investments	-56.2	-193.1	-873.5	-23.9	-0.9
Proceeds from Sale of Investments	0.5	-	-	-	1.3
Payments for Business Acquisitions	-5.8	-23.2	-762.8	-169.8	-69.7
Other Investing Activities	-49.1	-1.7	980.2	-2,738	36.4
Investing Cash Flow	-1,245	-1,978	-1,648	-4,065	-1,227
Long-Term Debt Issued	1,135	406.2	484.8	46.8	497.7
Long-Term Debt Repaid	-2,036	-1,524	-1,501	-1,586	-2,090
Net Long-Term Debt Issued (Repaid)	-901	-1,117	-1,016	-1,539	-1,592
Common Dividends Paid	-1,457	-1,640	-11,088	-6,165	-633.5
Other Financing Activities	-347.7	-326.2	-72.3	-525.8	-254.7
Financing Cash Flow	-2,706	-3,083	-12,177	-8,230	-2,481
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-587.4	366.4	-567.6	304.5	344.8
Net Cash Flow	-2,005	-329.2	-9,426	7,513	7,042
Free Cash Flow	1,082	2,199	3,261	18,063	9,153
Free Cash Flow Growth	-50.77%	-32.59%	-81.94%	97.35%	291.56%
FCF Margin	5.81%	11.50%	18.19%	52.29%	41.09%
Free Cash Flow Per Share	6.16	12.51	18.55	102.75	52.06
Levered Free Cash Flow	-1.9	1,546	1,579	15,920	8,705
Unlevered Free Cash Flow	898.05	3,082	2,104	17,661	10,522

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.