Musti Group 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 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022
Net Income	-3.72	0.86	3.63	26.45	22.33
Depreciation & Amortization	48.07	41.54	39.61	36.74	34.55
Other Amortization	-	0.05	-	0.02	-
Asset Writedown & Restructuring Costs	-	-	-	-	-0.01
Other Operating Activities	10.55	-1.59	1.9	1.65	4.65
Change in Accounts Receivable	0.27	2.47	2.11	-0.52	-0.76
Change in Inventory	-6.5	-6.76	-4.83	2.13	-16.3
Change in Accounts Payable	17.92	-5.32	-3.02	13.1	1.68
Operating Cash Flow	66.59	31.26	39.39	79.55	46.14
Operating Cash Flow Growth	113.05%	-20.65%	-50.49%	72.43%	-16.04%
Capital Expenditures	-21.7	-15.18	-14.42	-11.86	-14.22
Cash Acquisitions	-20.3	-16.69	-5.25	-6.72	-18.74
Divestitures	-	0.05	0.05	-	-
Investment in Securities	-	-1.99	-	-	-
Other Investing Activities	-	-0	-	-	-
Investing Cash Flow	-42	-33.81	-19.62	-18.58	-32.95
Short-Term Debt Issued	4.96	-	10.47	-	14.95
Long-Term Debt Issued	15.08	-	4.72	10.04	60
Total Debt Issued	20.04	95	15.2	10.04	74.95
Short-Term Debt Repaid	-	-	-	-6.14	-
Long-Term Debt Repaid	-31.77	-	-26.56	-32.85	-72.11
Total Debt Repaid	-31.77	-94.91	-26.56	-38.99	-72.11
Net Debt Issued (Repaid)	-11.74	0.09	-11.36	-28.95	2.83
Common Dividends Paid	-	-	-0.03	-	-
Other Financing Activities	-9.23	-5.55	-4.97	-2.94	-4.35
Financing Cash Flow	-20.97	-5.47	-16.36	-48.66	-16.14
Foreign Exchange Rate Adjustments	0.79	0.91	0.2	-0.42	-
Miscellaneous Cash Flow Adjustments	-0	0	-	-	-
Net Cash Flow	4.41	-7.11	3.61	11.9	-2.96
Free Cash Flow	44.89	16.08	24.97	67.69	31.92
Free Cash Flow Growth	179.18%	-35.61%	-63.11%	112.06%	-24.13%
Free Cash Flow Margin	8.82%	3.61%	5.70%	15.90%	8.16%
Free Cash Flow Per Share	1.30	0.48	0.74	2.02	0.95
Cash Interest Paid	10.66	7.72	7.34	4.15	7.09
Cash Income Tax Paid	0.51	4.52	3.18	7.53	5.2
Levered Free Cash Flow	37.13	-	23.61	55.64	22.09
Unlevered Free Cash Flow	43.36	-	25.4	58.99	23.98
Change in Working Capital	11.69	-9.61	-5.75	14.7	-15.39

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