FRA:RAA1 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	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	Dec '20 Dec 31, 2020
Net Income	254.93	250.53	213.97	185.72	123.66	80.1
Depreciation & Amortization	35.04	33.7	31.64	30.39	29.16	27.94
Other Amortization	3.7	3.7	0.98	0.52	1.15	1.34
Other Operating Activities	-27.04	-5.45	-5.1	13.48	7.49	-21.55
Change in Accounts Receivable	-10.3	-23.63	-5.21	-90.41	-20.97	36.05
Change in Inventory	-15.86	-0.48	12.11	-19.01	-20.97	-7.85
Change in Accounts Payable	16.31	18.48	10.36	23.64	28.02	-13.98
Change in Other Net Operating Assets	6.26	6.22	-0.4	16.28	24.56	-9.34
Operating Cash Flow	263.03	283.06	258.35	160.62	172.1	92.69
Operating Cash Flow Growth	-1.70%	9.57%	60.84%	-6.67%	85.67%	-53.34%
Capital Expenditures	-24	-29.02	-27.1	-37.18	-21.61	-33.4
Sale of Property, Plant & Equipment	0.02	0.08	0.56	0.24	0.07	0.09
Sale (Purchase) of Intangibles	-2.6	-2.6	-7.53	-	-4.22	-
Investment in Securities	-9.29	-82.22	-133.2	-45.41	-58.81	71.3
Other Investing Activities	12.14	11.07	5.56	0.49	0.26	0.4
Investing Cash Flow	-23.73	-102.69	-161.71	-81.87	-84.29	38.39
Long-Term Debt Repaid	-	-11.28	-10.9	-10.26	-11.05	-13.88
Net Debt Issued (Repaid)	-11.8	-11.28	-10.9	-10.26	-11.05	-13.88
Common Dividends Paid	-170.55	-153.5	-153.5	-85.28	-54.58	-64.81
Other Financing Activities	-1.41	-1.39	-1.16	-0.65	-0.62	-0.24
Financing Cash Flow	-183.76	-166.16	-165.56	-124.61	-66.24	-78.93
Foreign Exchange Rate Adjustments	-1.96	0.36	-1.01	0.06	1	-2.42
Net Cash Flow	53.58	14.57	-69.94	-45.79	22.57	49.74
Free Cash Flow	239.02	254.04	231.25	123.43	150.5	59.29
Free Cash Flow Growth	-1.16%	9.86%	87.34%	-17.98%	153.82%	-62.46%
Free Cash Flow Margin	19.33%	21.29%	20.54%	12.07%	19.30%	9.13%
Free Cash Flow Per Share	21.02	22.34	20.34	10.86	13.24	5.21
Cash Interest Paid	1.41	1.39	1.16	0.65	0.62	0.24
Cash Income Tax Paid	97.89	73.91	69.97	34.65	28.79	47.43
Levered Free Cash Flow	190.08	210.93	191.97	91.14	119.17	41.64
Unlevered Free Cash Flow	191.14	211.98	192.78	91.47	119.58	42.1
Change in Working Capital	-3.59	0.59	16.86	-69.5	10.63	4.87

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