Stora Enso 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	695	-136	-357	1,550	1,266
Depreciation & Amortization	469	486	516	517	530
Other Amortization	13	14	17	17	18
Loss (Gain) From Sale of Assets	-8	-1	-40	-10	-55
Asset Writedown & Restructuring Costs	-376	325	561	-88	-178
Loss (Gain) From Sale of Investments	-171	-1	-36	9	-
Loss (Gain) on Equity Investments	-89	-52	-136	-221	-143
Stock-Based Compensation	2	-2	-2	7	3
Other Operating Activities	59	36	-82	232	60
Change in Accounts Receivable	117	259	347	-165	-305
Change in Inventory	-53	-136	328	-454	-196
Change in Other Net Operating Assets	-13	160	-375	158	476
Operating Cash Flow	645	952	752	1,582	1,476
Operating Cash Flow Growth	-32.25%	26.60%	-52.46%	7.18%	30.85%
Capital Expenditures	-775	-1,113	-989	-704	-644
Sale of Property, Plant & Equipment	17	23	47	17	105
Cash Acquisitions	-17	-75	-584	-	-
Divestitures	619	8	237	-77	55
Investment in Securities	9	2	-23	-8	40
Other Investing Activities	207	22	-1	30	-5
Investing Cash Flow	60	-1,133	-1,313	-742	-449
Short-Term Debt Issued	-	54	272	9	-
Long-Term Debt Issued	489	19	2,006	366	19
Total Debt Issued	489	73	2,278	375	19
Short-Term Debt Repaid	-19	-	-	-	-59
Long-Term Debt Repaid	-1,747	-225	-716	-390	-940
Total Debt Repaid	-1,766	-225	-716	-390	-999
Net Debt Issued (Repaid)	-1,277	-152	1,562	-15	-980
Repurchase of Common Stock	-2	-3	-6	-1	-3
Common Dividends Paid	-209	-146	-472	-434	-237
Other Financing Activities	1	-	-	-	-
Financing Cash Flow	-1,487	-301	1,084	-450	-1,220
Foreign Exchange Rate Adjustments	-4	11	24	48	18
Miscellaneous Cash Flow Adjustments	-1	-	-	-1	-
Net Cash Flow	-787	-471	547	437	-175
Free Cash Flow	-130	-161	-237	878	832
Free Cash Flow Growth	-	-	-	5.53%	78.16%
Free Cash Flow Margin	-1.39%	-1.78%	-2.52%	7.52%	8.19%
Free Cash Flow Per Share	-0.17	-0.20	-0.30	1.11	1.05
Cash Interest Paid	192	197	149	119	123
Cash Income Tax Paid	48	73	85	178	136
Levered Free Cash Flow	-297.88	-414.88	50.75	160	601.63
Unlevered Free Cash Flow	-175.38	-281.13	165.13	238.13	680.38
Change in Working Capital	51	283	300	-461	-25

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