PNE AG 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	-43.1	-4.4	-9.6	14.9	25.13
Depreciation & Amortization	40.5	31.9	32.2	27.8	20.74
Loss (Gain) From Sale of Assets	-	-75.8	-5	0.15	0.43
Asset Writedown & Restructuring Costs	-	-	-	0.03	0.03
Loss (Gain) From Sale of Investments	-	-	-	0.13	-
Other Operating Activities	71.6	22.4	5	-21.23	-24.97
Change in Accounts Receivable	-8.3	-38	14.6	20.25	41.55
Change in Inventory	-103.7	-240.6	-232.6	-39.17	-85.38
Change in Accounts Payable	-17	129.5	26.1	-14.97	44.05
Change in Other Net Operating Assets	3.9	-1.6	3.1	3.11	2.22
Operating Cash Flow	-50	-176.6	-166.2	-9.01	23.78
Capital Expenditures	-103.9	-34.7	-25.5	-95.64	-112.83
Sale of Property, Plant & Equipment	-	1.2	2.6	0.01	0.53
Cash Acquisitions	-	-	-	-2	-
Divestitures	39.9	4.7	4.8	0	30.45
Sale (Purchase) of Intangibles	-	-	-	-	0
Investment in Securities	1	-0.7	-2.1	-0.46	-0.14
Other Investing Activities	-	-	0.1	-	-
Investing Cash Flow	-63	-29.5	-20.1	-98.08	-81.99
Long-Term Debt Issued	171.4	286.6	197	166.17	143.7
Long-Term Debt Repaid	-71.1	-59	-35.8	-79.55	-28.67
Net Debt Issued (Repaid)	100.3	227.6	161.2	86.62	115.03
Issuance of Common Stock	-	3.6	-	-	-
Common Dividends Paid	-3.6	-3	-3	-6.11	-3.05
Other Financing Activities	7.8	-4.3	-	-1.31	-
Financing Cash Flow	101.4	220.8	155.1	79.2	111.97
Miscellaneous Cash Flow Adjustments	-1.9	-13.5	-	-0.15	-15.75
Net Cash Flow	-13.5	1.2	-31.2	-28.04	38.01
Free Cash Flow	-153.9	-211.3	-191.7	-104.65	-89.05
Free Cash Flow Margin	-66.86%	-100.38%	-157.78%	-82.94%	-75.64%
Free Cash Flow Per Share	-2.01	-2.76	-2.51	-1.37	-1.17
Cash Interest Paid	22	11.5	11.1	8.87	6.56
Cash Income Tax Paid	6.3	8.8	3.5	5.68	4.92
Levered Free Cash Flow	117.91	-18.56	-131.46	-52.21	-70.15
Unlevered Free Cash Flow	136.16	-1.56	-121.96	-46.66	-65.5
Change in Working Capital	-125.1	-150.7	-188.8	-30.78	2.44

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