Steppe Gold Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
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
Net Income	41.09	61.35	56.34	35.84	4.74
Depreciation & Amortization	15.36	18.97	18.23	13.85	10.4
Other Amortization	-	-	-	0.31	0.13
Loss (Gain) From Sale of Assets	-0.01	-0.01	0.18	0.01	0.94
Loss (Gain) From Sale of Investments	-2.18	-2.15	-	1.62	0.53
Provision & Write-off of Bad Debts	0.07	0.07	0.53	3.85	28.56
Other Operating Activities	-2.03	7.44	3.75	-7.9	8.7
Change in Accounts Receivable	22.17	18.78	0.13	-1.44	-12.38
Change in Inventory	-6.98	3.14	-4.36	-4.88	-2.7
Change in Accounts Payable	-34.13	-28.29	-2.76	1.48	-3.69
Change in Other Net Operating Assets	2.53	2.53	-	0.18	-1.78
Operating Cash Flow	35.9	81.83	72.03	42.91	33.45
Operating Cash Flow Growth	-64.25%	13.60%	67.85%	28.28%	-
Capital Expenditures	-22.01	-14.17	-10.3	-7.56	-7.44
Sale of Property, Plant & Equipment	0.08	0.08	0.28	-	-
Cash Acquisitions	-	2.1	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-0.03	-0.58
Investment in Securities	1.38	-	-3.09	-13.36	-12.58
Investing Cash Flow	-16.33	-11.99	-13.11	-20.94	-20.6
Long-Term Debt Issued	-	68.83	-	8.68	32.81
Long-Term Debt Repaid	-	-33.41	-34.15	-17.87	-35.43
Net Debt Issued (Repaid)	5.92	35.42	-34.15	-9.2	-2.62
Common Dividends Paid	-	-60.5	-	-	-
Other Financing Activities	-23.51	-12.54	-11.87	-12.2	-11.5
Financing Cash Flow	-17.59	-37.61	-46.01	-21.4	-14.11
Foreign Exchange Rate Adjustments	-	-	-	-0.38	-
Net Cash Flow	1.98	32.23	12.91	0.2	-1.26
Free Cash Flow	13.88	67.66	61.73	35.36	26.01
Free Cash Flow Growth	-84.18%	9.61%	74.59%	35.93%	-
Free Cash Flow Margin	9.89%	37.98%	46.75%	33.52%	22.37%
Free Cash Flow Per Share	0.05	0.35	0.43	11.79	8.67
Cash Interest Paid	23.5	12.52	11.87	12.2	10.04
Cash Income Tax Paid	27.39	16.42	9.95	10.78	7
Levered Free Cash Flow	-18.01	-1.11	71.9	20.69	-
Unlevered Free Cash Flow	-8.17	6.53	78.85	28.48	-
Change in Working Capital	-16.41	-3.84	-7	-4.66	-20.55

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