Gelsenwasser AG 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	103.4	117.2	132.5	82	114.3
Depreciation & Amortization	65	62.7	57.7	50.7	47.7
Loss (Gain) on Sale of Assets	-4.2	-9.6	-1.5	-7	-28.6
Loss (Gain) on Sale of Investments	-8.5	-2.8	-19.6	14.2	7.2
Asset Writedown	0.1	-17.2	-0.8	-	3.8
Change in Inventory	175.2	991.6	2,557	1,478	-5,338
Change in Accounts Payable	-108.6	-992.9	-2,636	-1,510	5,300
Other Operating Activities	-37.8	-21.3	33.8	70.2	-11.6
Operating Cash Flow	184.6	127.7	123.1	177.7	94.6
Operating Cash Flow Growth	44.56%	3.74%	-30.73%	87.84%	-41.86%
Capital Expenditures	-95.6	-93.7	-82.1	-82.4	-64.7
Sale of Property, Plant & Equipment	4.4	10.5	3.1	4.9	13.9
Cash Acquisitions	-	-	-	-0.1	-
Divestitures	9.8	-	-	23.5	12.6
Sale (Purchase) of Intangibles	-13.3	-7.1	-8.9	-4.8	-3.9
Investment in Securities	-24.5	-21.9	-45.9	12.4	-173.7
Investing Cash Flow	-119.2	-112.2	-133.8	-46.5	-215.8
Short-Term Debt Issued	348.5	308.1	273.8	173.2	342.8
Long-Term Debt Issued	-	81.5	110	170.5	9.5
Total Debt Issued	348.5	389.6	383.8	343.7	352.3
Short-Term Debt Repaid	-285.3	-311.1	-217.7	-363.1	-140.1
Long-Term Debt Repaid	-35.9	-31.3	-43.6	-20.2	-18.2
Total Debt Repaid	-321.2	-342.4	-261.3	-383.3	-158.3
Net Debt Issued (Repaid)	27.3	47.2	122.5	-39.6	194
Other Financing Activities	-85.3	-87.1	-83.1	-79.6	-78.5
Financing Cash Flow	-58	-39.9	39.4	-119.2	115.5
Net Cash Flow	7.4	-24.4	28.7	12	-5.7
Free Cash Flow	89	34	41	95.3	29.9
Free Cash Flow Growth	161.77%	-17.07%	-56.98%	218.73%	-71.47%
Free Cash Flow Margin	2.96%	1.14%	1.01%	0.71%	0.47%
Free Cash Flow Per Share	25.89	9.89	11.93	27.72	8.70
Cash Interest Paid	17.8	17.2	19.1	6.4	6.4
Cash Income Tax Paid	2.9	1.9	1.8	1.9	2.7
Levered Free Cash Flow	173.83	6.06	-62.63	-118.6	88.18
Unlevered Free Cash Flow	190.08	21.06	-50.44	-112.54	92.18
Change in Working Capital	66.6	-1.3	-79	-32.4	-38.2

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.