Huhtamäki Oyj 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	191.8	224.1	206.3	276.2	198.8
Depreciation & Amortization	212.7	218.3	213.9	205.1	172.7
Other Amortization	3.3	3.7	4.8	4.6	3.8
Loss (Gain) From Sale of Assets	-0.6	-12.9	-50.8	1.2	-3.8
Asset Writedown & Restructuring Costs	76.8	1.4	21.6	-	-2.8
Other Operating Activities	16.6	-4.9	38.1	-4.7	-7.2
Change in Accounts Receivable	34	-38.8	41	20.6	-150.2
Change in Inventory	20.5	-27.2	114.4	-98	-105
Change in Accounts Payable	-78.1	69	-11.1	-83.6	116.4
Operating Cash Flow	477	432.7	578.2	321.4	222.7
Operating Cash Flow Growth	10.24%	-25.16%	79.90%	44.32%	-48.04%
Capital Expenditures	-171.9	-247.9	-318.7	-318.5	-259.4
Sale of Property, Plant & Equipment	6.2	31	61.9	8.2	10.5
Cash Acquisitions	-14.5	-	-1.9	-2.2	-365.2
Divestitures	-	-	-	149.2	-
Investment in Securities	-3	-13.2	0.1	-12.6	5.6
Other Investing Activities	1.1	-1.7	-1.7	1.3	1.5
Investing Cash Flow	-182.1	-231.8	-260.3	-174.6	-607
Long-Term Debt Issued	335.7	135.6	443.5	917.5	621.3
Total Debt Issued	335.7	135.6	443.5	917.5	621.3
Short-Term Debt Repaid	-179.9	-162.2	-567.7	-214.9	-15.8
Long-Term Debt Repaid	-234.2	-99.3	-16.6	-623.8	-257.3
Total Debt Repaid	-414.1	-261.5	-584.3	-838.7	-273.1
Net Debt Issued (Repaid)	-78.4	-125.9	-140.8	78.8	348.2
Common Dividends Paid	-115.5	-110	-104.5	-98.1	-96
Other Financing Activities	-0.9	-11.3	-22.9	-2.3	-15.1
Financing Cash Flow	-194.8	-247.2	-268.2	-21.6	237.1
Foreign Exchange Rate Adjustments	-38.6	15.2	-11	5.6	10.4
Miscellaneous Cash Flow Adjustments	-	-	-	-0.1	-
Net Cash Flow	61.5	-31.1	38.7	130.7	-136.8
Free Cash Flow	305.1	184.8	259.5	2.9	-36.7
Free Cash Flow Growth	65.10%	-28.79%	8848.28%	-	-
Free Cash Flow Margin	7.70%	4.48%	6.22%	0.07%	-1.03%
Free Cash Flow Per Share	2.91	1.76	2.47	0.03	-0.35
Cash Interest Paid	71.7	69.6	58.8	36	25.4
Cash Income Tax Paid	38.9	87	83.8	71.3	82.8
Levered Free Cash Flow	199.91	169.19	245.4	-50.58	-123.58
Unlevered Free Cash Flow	242.6	215.75	292.34	-19.89	-106.51
Change in Working Capital	-23.6	3	144.3	-161	-138.8

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