FBD Holdings Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	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	53.97	67.21	69.54	57.56	96.41	4.39
Depreciation & Amortization	10.59	10.33	10.27	12.09	17.34	11.21
Other Amortization	5.72	5.72	2.53	1.94	1.47	0.65
Gain (Loss) on Sale of Investments	-7.96	-10.13	-7.96	19.62	-	-1.83
Stock-Based Compensation	-	-	-	-	2.65	1.95
Change in Accounts Receivable	-	-	-	-	5.46	-3.15
Change in Insurance Reserves / Liabilities	-5.65	9.61	-26.27	2.88	-66.72	-
Change in Other Net Operating Assets	5.44	-2.55	7.66	8.18	1.27	10.94
Other Operating Activities	0.18	3.45	4.51	-0.8	6.06	52.81
Operating Cash Flow	62.79	84.13	65.09	102.75	54.2	79.1
Operating Cash Flow Growth	-17.04%	29.25%	-36.65%	89.56%	-31.48%	65.73%
Capital Expenditures	-3.55	-4.61	-3.59	-5.85	-5.96	-6.64
Purchase / Sale of Intangible Assets	-12.31	-14.77	-16.19	-6.99	-5.4	-3.59
Investment in Securities	64.74	24.49	7.26	-56.12	-4.47	-30.92
Investing Cash Flow	48.93	5.17	-12.52	-68.96	-15.8	-41.07
Total Debt Repaid	-0.93	-0.92	-0.96	-0.97	-0.96	-0.98
Net Debt Issued (Repaid)	-0.93	-0.92	-0.96	-0.97	-0.96	-0.98
Repurchases of Common Stock	-	-4	-	-	-	-
Common Dividends Paid	-36.22	-35.9	-35.88	-35.59	-	-
Preferred Dividends Paid	-0.28	-0.28	-0.28	-0.28	-	-
Total Dividends Paid	-36.51	-36.18	-36.17	-35.87	-	-
Other Financing Activities	-2.5	-2.5	-2.5	-2.5	-2.5	-2.5
Financing Cash Flow	-75.83	-79.5	-75.48	-39.34	-3.46	-3.48
Foreign Exchange Rate Adjustments	0.03	0.13	0.07	-0.19	-	-
Net Cash Flow	35.91	9.92	-22.84	-5.74	34.94	34.55
Free Cash Flow	59.23	79.52	61.5	96.89	48.25	72.47
Free Cash Flow Growth	-18.42%	29.31%	-36.53%	100.83%	-33.43%	86.78%
Free Cash Flow Margin	12.24%	17.10%	14.55%	26.56%	13.47%	21.53%
Free Cash Flow Per Share	1.61	2.17	1.68	2.66	1.34	2.03
Cash Interest Paid	2.5	2.5	2.5	2.5	2.5	2.5
Cash Income Tax Paid	10.2	11.14	12.16	12.6	0.08	6.61
Levered Free Cash Flow	42.1	97.26	28.89	-115.92	11.47	61.51
Unlevered Free Cash Flow	43.71	98.86	30.49	-114.32	13.06	63.13
Change in Working Capital	-0.21	7.06	-18.61	11.06	-69.77	7.62

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