SMA Solar Technology 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	-181.13	-117.73	225.67	55.82	-23.17
Depreciation & Amortization	69.28	37.63	30.73	29.22	30.62
Other Amortization	53.51	39.48	10.73	8.91	11.05
Loss (Gain) From Sale of Assets	1.32	1.71	1.69	-20.64	0.41
Other Operating Activities	138.18	149.74	63.79	-40.67	65.51
Change in Accounts Receivable	20.72	56.42	-126.68	-12.93	-21.27
Change in Inventory	73.35	-118.22	-263.15	-45.44	-23.42
Change in Accounts Payable	12	-156.73	170.35	-0.58	-10.18
Change in Other Net Operating Assets	-44.22	-17.07	27.64	54.98	64.7
Operating Cash Flow	142.99	-124.79	140.78	28.66	94.26
Operating Cash Flow Growth	-	-	391.13%	-69.59%	-
Capital Expenditures	-16.78	-46.82	-44.41	-25.9	-17.57
Sale of Property, Plant & Equipment	16.61	30.63	0.21	0.12	0.23
Sale (Purchase) of Intangibles	-33.14	-43.13	-39.95	-35.93	-29.94
Investment in Securities	-	42.49	-1.84	104.22	-34.34
Investing Cash Flow	-33.31	-16.84	-85.99	42.52	-81.62
Long-Term Debt Issued	0.3	145.5	6.44	-	-
Long-Term Debt Repaid	-112.27	-10.92	-9.02	-19.34	-10.35
Net Debt Issued (Repaid)	-111.97	134.58	-2.58	-19.34	-10.35
Common Dividends Paid	-	-17.35	-	-	-10.41
Financing Cash Flow	-111.97	117.23	-2.58	-19.34	-20.76
Foreign Exchange Rate Adjustments	-2.74	0.85	1.82	-0.47	-1.61
Net Cash Flow	-5.04	-23.55	54.03	51.38	-9.73
Free Cash Flow	126.2	-171.61	96.36	2.77	76.69
Free Cash Flow Growth	-	-	3380.10%	-96.39%	-
Free Cash Flow Margin	8.33%	-11.22%	5.06%	0.26%	7.80%
Free Cash Flow Per Share	3.64	-4.95	2.78	0.08	2.21
Cash Interest Paid	6.37	4.83	1.54	0.8	0.91
Cash Income Tax Paid	23.54	8.98	21.21	5.55	-11.99
Levered Free Cash Flow	210.49	-106.12	-15.14	-16.29	-12.78
Unlevered Free Cash Flow	218.84	-100.26	-12.1	-14.04	-11.74
Change in Working Capital	61.84	-235.61	-191.84	-3.97	9.83

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