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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-188.29	-181.13	-117.73	225.67	55.82	-23.17
Depreciation & Amortization	68.75	69.28	37.63	30.73	29.22	30.62
Other Amortization	53.51	53.51	39.48	10.73	8.91	11.05
Loss (Gain) From Sale of Assets	1.28	1.32	1.71	1.69	-20.64	0.41
Other Operating Activities	127.96	138.18	149.74	63.79	-40.67	65.51
Change in Accounts Receivable	-100.18	20.72	56.42	-126.68	-12.93	-21.27
Change in Inventory	89.41	73.35	-118.22	-263.15	-45.44	-23.42
Change in Accounts Payable	6.57	12	-156.73	170.35	-0.58	-10.18
Change in Other Net Operating Assets	-47.82	-44.22	-17.07	27.64	54.98	64.7
Operating Cash Flow	11.2	142.99	-124.79	140.78	28.66	94.26
Operating Cash Flow Growth	-72.30%	-	-	391.13%	-69.59%	-
Capital Expenditures	-16.48	-16.78	-46.82	-44.41	-25.9	-17.57
Sale of Property, Plant & Equipment	16.83	16.61	30.63	0.21	0.12	0.23
Sale (Purchase) of Intangibles	-24.94	-33.14	-43.13	-39.95	-35.93	-29.94
Investment in Securities	-	-	42.49	-1.84	104.22	-34.34
Other Investing Activities	0	-	-	-	-	-
Investing Cash Flow	-24.59	-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)	-133	-111.97	134.58	-2.58	-19.34	-10.35
Common Dividends Paid	-	-	-17.35	-	-	-10.41
Financing Cash Flow	-133	-111.97	117.23	-2.58	-19.34	-20.76
Foreign Exchange Rate Adjustments	-0.96	-2.74	0.85	1.82	-0.47	-1.61
Net Cash Flow	-147.35	-5.04	-23.55	54.03	51.38	-9.73
Free Cash Flow	-5.28	126.2	-171.61	96.36	2.77	76.69
Free Cash Flow Growth	-	-	-	3380.10%	-96.39%	-
Free Cash Flow Margin	-0.35%	8.33%	-11.22%	5.06%	0.26%	7.80%
Free Cash Flow Per Share	-0.15	3.64	-4.95	2.78	0.08	2.21
Cash Interest Paid	6.37	6.37	4.83	1.54	0.8	0.91
Cash Income Tax Paid	23.54	23.54	8.98	21.21	5.55	-11.99
Levered Free Cash Flow	56.76	210.49	-106.12	-15.14	-16.29	-12.78
Unlevered Free Cash Flow	64.18	218.84	-100.26	-12.1	-14.04	-11.74
Change in Working Capital	-52.02	61.84	-235.61	-191.84	-3.97	9.83

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