FDJ United 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	175.9	398.8	425.1	307.9	294.2
Depreciation & Amortization	395.6	156.2	81.8	88.6	79.4
Other Amortization	109.5	71.8	43.8	42.2	49
Loss (Gain) From Sale of Assets	1.1	1	4.8	0.1	1.3
Asset Writedown & Restructuring Costs	-	-	-	-	29.2
Loss (Gain) on Equity Investments	-2.9	-2.9	-2.1	-1.1	-4.1
Other Operating Activities	31.8	41.5	16.6	32.3	-47.1
Change in Accounts Receivable	357.6	-144.8	-68.1	-101.3	-146.6
Change in Inventory	0.5	2.7	-3.3	-2.3	1.9
Change in Accounts Payable	-220.8	59	129.6	46	346.6
Change in Other Net Operating Assets	-11.3	-6.3	0.7	-6.3	-0.9
Operating Cash Flow	837	577	628.9	406.1	602.9
Operating Cash Flow Growth	45.06%	-8.25%	54.86%	-32.64%	-13.04%
Capital Expenditures	-269.3	-149.9	-124.7	-104.1	-75.5
Sale of Property, Plant & Equipment	3	0.1	0.1	-	0.1
Investment in Securities	-2.8	-1,588	101.4	-147.7	-216
Other Investing Activities	3.8	-0.3	5.4	12.9	-0.1
Investing Cash Flow	-275.7	-1,762	-21.7	-178.7	-301.4
Long-Term Debt Issued	-	3,891	-	-	-
Long-Term Debt Repaid	-128.5	-2,175	-306	-79.4	-196.5
Net Debt Issued (Repaid)	-128.5	1,716	-306	-79.4	-196.5
Common Dividends Paid	-378.7	-328.7	-253.4	-229.5	-166.7
Other Financing Activities	-91	-52.4	-21.1	-11.6	-9.1
Financing Cash Flow	-598.2	1,335	-580.5	-320.5	-372.3
Foreign Exchange Rate Adjustments	-7.1	-5.9	1	2.3	-0.6
Miscellaneous Cash Flow Adjustments	-	-	-	0.1	0.1
Net Cash Flow	-44	143.5	27.7	-90.7	-71.3
Free Cash Flow	567.7	427.1	504.2	302	527.4
Free Cash Flow Growth	32.92%	-15.29%	66.95%	-42.74%	125.87%
Free Cash Flow Margin	15.44%	13.93%	19.23%	12.27%	23.38%
Free Cash Flow Per Share	3.06	2.31	2.64	1.58	2.76
Cash Interest Paid	74.4	31.9	14.7	5.3	5.5
Cash Income Tax Paid	165.9	112.8	134.8	123.3	119.7
Levered Free Cash Flow	578.5	620.21	494.21	199.28	375.06
Unlevered Free Cash Flow	624.94	643.78	502.84	203.4	378.69
Change in Working Capital	126	-89.4	58.9	-63.9	201

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