ETR:HLG Cash Flow Statement

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

Millions CHF. 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	-135.76	-27.68	-10.61	-2.94	14.8
Depreciation & Amortization	12.71	17	18.7	18.44	19.15
Other Amortization	105.97	54.67	44.62	56.79	101.08
Loss (Gain) From Sale of Assets	-0.08	-0.04	-0.06	-7.04	-7.51
Asset Writedown & Restructuring Costs	108.91	12.17	3.13	4.46	3.35
Loss (Gain) on Equity Investments	0.11	-0.67	3.93	1.46	0.01
Other Operating Activities	3.39	8.4	-11.8	-3.79	0.55
Change in Inventory	-5.69	-14.92	51.17	41.31	-67.72
Change in Accounts Payable	44.74	-12.49	41.63	-7.44	-4.21
Operating Cash Flow	134.3	36.44	140.7	101.26	59.51
Operating Cash Flow Growth	268.61%	-74.10%	38.95%	70.15%	-16.43%
Capital Expenditures	-1.71	-3.32	-5.47	-5.77	-6.19
Sale of Property, Plant & Equipment	0.19	0.13	0.06	0.12	0.13
Cash Acquisitions	-0.45	-	-	-	-
Sale (Purchase) of Intangibles	-120.95	-93.25	-101.83	-98.5	-67.51
Investment in Securities	0.01	-0.3	-2.66	-3.34	0.04
Investing Cash Flow	-122.9	-96.74	-109.9	-107.49	-73.53
Short-Term Debt Issued	38.29	51.13	16.97	43.7	49.58
Long-Term Debt Issued	0.28	0.14	15.72	1.44	13.34
Total Debt Issued	38.56	51.27	32.68	45.13	62.93
Short-Term Debt Repaid	-41.93	-9.97	-59.17	-48.17	-40.93
Long-Term Debt Repaid	-4.44	-5.96	-6.65	-6.72	-7.28
Total Debt Repaid	-46.36	-15.93	-65.82	-54.89	-48.21
Net Debt Issued (Repaid)	-7.8	35.34	-33.13	-9.76	14.72
Other Financing Activities	1.68	15.86	-0.94	-1.05	0.95
Financing Cash Flow	-6.12	51.21	-34.07	-10.81	15.66
Foreign Exchange Rate Adjustments	-0.26	0.37	-1.14	-1.4	-1.48
Net Cash Flow	5.02	-8.73	-4.41	-18.44	0.17
Free Cash Flow	132.6	33.11	135.23	95.49	53.32
Free Cash Flow Growth	300.44%	-75.51%	41.62%	79.07%	-20.98%
Free Cash Flow Margin	25.29%	6.13%	27.16%	16.23%	8.45%
Free Cash Flow Per Share	2.34	0.58	2.38	1.68	0.94
Cash Interest Paid	12.47	13.39	12.29	8.43	6.27
Cash Income Tax Paid	2.97	-2.04	11.67	7.91	2.58
Levered Free Cash Flow	8.48	-68.91	44.39	0.14	0.8
Unlevered Free Cash Flow	19.85	-57.99	53.23	6.17	5.49
Change in Working Capital	39.04	-27.41	92.8	33.87	-71.92

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