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	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-297	-117.73	225.67	55.82	-23.17	28.09
Depreciation & Amortization	108.8	37.63	30.73	29.22	30.62	32.44
Other Amortization	37.08	39.48	10.73	8.91	11.05	11.14
Loss (Gain) From Sale of Assets	4.85	1.71	1.69	-20.64	0.41	2.96
Other Operating Activities	348.89	149.74	63.79	-40.67	65.51	1.63
Change in Accounts Receivable	-22.66	56.42	-126.68	-12.93	-21.27	23.02
Change in Inventory	50.15	-118.22	-263.15	-45.44	-23.42	0.89
Change in Accounts Payable	-14.65	-156.73	170.35	-0.58	-10.18	-30.53
Change in Other Net Operating Assets	-12.37	-5.11	27.64	54.98	64.7	-101.02
Operating Cash Flow	203.09	-112.82	140.78	28.66	94.26	-31.38
Operating Cash Flow Growth	-	-	391.13%	-69.59%	-	-
Capital Expenditures	-21.65	-46.82	-44.41	-25.9	-17.57	-20.23
Sale of Property, Plant & Equipment	18.58	18.59	0.21	0.12	0.23	0.2
Sale (Purchase) of Intangibles	-34.34	-43.13	-39.95	-35.93	-29.94	-18.55
Investment in Securities	-15.01	42.49	-1.84	104.22	-34.34	2.04
Investing Cash Flow	-52.42	-28.87	-85.99	42.52	-81.62	-36.53
Long-Term Debt Issued	-	145.5	6.44	-	-	-
Long-Term Debt Repaid	-	-10.92	-9.02	-19.34	-10.35	-12.37
Net Debt Issued (Repaid)	-91.03	134.58	-2.58	-19.34	-10.35	-12.37
Common Dividends Paid	-	-17.35	-	-	-10.41	-
Financing Cash Flow	-91.03	117.23	-2.58	-19.34	-20.76	-12.37
Foreign Exchange Rate Adjustments	-1.79	0.85	1.82	-0.47	-1.61	-10.8
Miscellaneous Cash Flow Adjustments	0	-	-	-	-	-
Net Cash Flow	57.87	-23.62	54.03	51.38	-9.73	-91.09
Free Cash Flow	181.44	-159.65	96.36	2.77	76.69	-51.61
Free Cash Flow Growth	-	-	3380.10%	-96.39%	-	-
Free Cash Flow Margin	11.30%	-10.43%	5.06%	0.26%	7.80%	-5.03%
Free Cash Flow Per Share	5.23	-4.60	2.78	0.08	2.21	-1.49
Cash Interest Paid	7.46	4.83	1.54	0.8	0.91	1
Cash Income Tax Paid	8	8.98	21.21	5.55	-11.99	-2.26
Levered Free Cash Flow	301.32	-106.12	-15.14	-16.29	-12.78	-68.07
Unlevered Free Cash Flow	310.52	-100.26	-12.1	-14.04	-11.74	-67.14
Change in Working Capital	0.48	-223.65	-191.84	-3.97	9.83	-107.64

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.