ETR:SPG 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	355.7	68.3	15.5	201.4	-9.9
Depreciation & Amortization	263.9	280.1	276.9	198.8	200.9
Other Amortization	-	-	-	91.1	88.2
Asset Writedown & Restructuring Costs	1.1	3.9	8.2	2.7	45.5
Loss (Gain) From Sale of Investments	-	-	-	0.7	1.2
Other Operating Activities	-48.7	197.4	250.9	6	218.6
Change in Other Net Operating Assets	-22.8	-18.5	-59.6	4.1	66.3
Operating Cash Flow	549.2	531.2	491.9	504.8	610.8
Operating Cash Flow Growth	3.39%	7.99%	-2.56%	-17.35%	7.12%
Capital Expenditures	-7.8	-11	-12.6	-13.3	-8.5
Cash Acquisitions	-1.5	-1.4	-11.3	-27.4	-29.3
Divestitures	21.8	10.6	84.5	54.6	5.7
Sale (Purchase) of Intangibles	-138.8	-149.8	-153.8	-139.9	-151.4
Investment in Securities	-	-	-	-0.9	-
Other Investing Activities	12.2	14	14.1	-	-
Investing Cash Flow	-114.1	-137.6	-79.1	-126.9	-183.5
Long-Term Debt Issued	500	-	2,185	-	80
Long-Term Debt Repaid	-820.4	-424.8	-2,510	-319.7	-361.8
Net Debt Issued (Repaid)	-320.4	-424.8	-324.8	-319.7	-281.8
Issuance of Common Stock	-	196.7	-	-	-
Common Dividends Paid	-25.9	-	-	-	-
Other Financing Activities	-94.5	-141	-142.8	-131.5	-139.1
Financing Cash Flow	-440.8	-369.1	-467.6	-451.2	-420.9
Foreign Exchange Rate Adjustments	-24.7	1.7	-13.7	11.5	14.3
Miscellaneous Cash Flow Adjustments	-	-	-3.2	-3	-2.2
Net Cash Flow	-30.4	26.2	-71.7	-64.8	18.5
Free Cash Flow	541.4	520.2	479.3	491.5	602.3
Free Cash Flow Growth	4.08%	8.53%	-2.48%	-18.40%	7.30%
Free Cash Flow Margin	28.10%	28.16%	25.87%	26.98%	35.41%
Free Cash Flow Per Share	2.72	2.62	2.52	2.59	3.17
Cash Interest Paid	90.8	141	142.6	110.8	139.1
Cash Income Tax Paid	150	146.1	105.3	116.1	89.2
Levered Free Cash Flow	295.14	284	188.71	187.14	199.34
Unlevered Free Cash Flow	360.45	381.75	384.9	266.83	341.09
Change in Working Capital	-22.8	-18.5	-59.6	4.1	66.3

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