FRA:AOR Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	88.61	107.51	90.05	48.04	30.41
Depreciation & Amortization	43.64	31.48	24.97	20.36	15.38
Other Amortization	0.02	-	0.02	0.02	-
Asset Writedown	-	-	-	-	0.02
Change in Accounts Receivable	-11.53	-17.58	-14.44	-11.45	-3.78
Change in Accounts Payable	-9.04	-40.5	2.93	25.76	13.01
Other Operating Activities	3.62	17.17	15.13	11.28	-7.49
Operating Cash Flow	115.32	98.08	118.65	94.02	47.55
Operating Cash Flow Growth	17.57%	-17.34%	26.21%	97.71%	226.26%
Capital Expenditures	-187.39	-328.61	-331.47	-195.26	-134.35
Investing Cash Flow	-187.39	-328.61	-331.47	-195.26	-134.35
Long-Term Debt Issued	155.26	216.76	259.91	192.36	74.42
Long-Term Debt Repaid	-106.14	-59.6	-49.28	-19.57	-24.5
Net Debt Issued (Repaid)	49.12	157.16	210.62	172.79	49.93
Financing Cash Flow	49.12	157.16	210.62	172.79	49.93
Miscellaneous Cash Flow Adjustments	-0	-	-	-	-
Net Cash Flow	-22.95	-73.36	-2.19	71.54	-36.87
Free Cash Flow	-72.07	-230.53	-212.82	-101.24	-86.8
Free Cash Flow Margin	-34.24%	-100.23%	-127.17%	-91.60%	-134.56%
Free Cash Flow Per Share	-0.58	-1.84	-1.70	-0.81	-0.69
Cash Interest Paid	37.06	33.96	14.19	12.42	9.28
Cash Income Tax Paid	-0.62	9.76	2.74	1.26	0.43
Levered Free Cash Flow	-20.31	-280.02	-259.54	-128.98	-97.23
Unlevered Free Cash Flow	3.5	-258.66	-246.18	-117.65	-89.12
Change in Working Capital	-20.57	-58.08	-11.51	14.31	9.23

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