NOS, S.G.P.S. 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	253.19	272.26	181	224.57	144.16	92
Depreciation & Amortization	401.89	399.96	385.51	382.9	321.06	310.53
Other Amortization	99.13	98.88	98.13	97.99	98.41	99.32
Other Operating Activities	28.97	132.25	64.08	-63.04	142.51	178.4
Operating Cash Flow	783.18	903.36	728.71	642.42	706.14	680.24
Operating Cash Flow Growth	-14.18%	23.97%	13.43%	-9.02%	3.81%	2.05%
Capital Expenditures	-188.46	-213.24	-231.62	-226.57	-271.22	-215.47
Sale of Property, Plant & Equipment	1.61	71.53	1.56	136.32	1.98	374.41
Sale (Purchase) of Intangibles	-237.94	-244.54	-218.88	-244.38	-406.08	-260.37
Investment in Securities	-152.93	-1.35	-0.48	-2.05	-1.47	-0.14
Other Investing Activities	9.19	10.82	7.3	5.84	4.79	5.25
Investing Cash Flow	-568.53	-376.77	-442.24	-330.84	-672	-96.32
Long-Term Debt Issued	-	332.2	700.2	478.69	288	268.51
Long-Term Debt Repaid	-	-596.51	-712.4	-600.41	-278.1	-484.64
Net Debt Issued (Repaid)	27.37	-264.31	-12.2	-121.72	9.9	-216.13
Repurchase of Common Stock	-2.52	-4.26	-5.17	-7.09	-2.07	-5.72
Common Dividends Paid	-179.15	-178.96	-142.22	-142.36	-142.38	-142.52
Other Financing Activities	-67.21	-78.83	-48.71	-42.52	-40.51	-26.65
Financing Cash Flow	-247.26	-526.35	-286.06	-313.68	-175.06	-391.02
Foreign Exchange Rate Adjustments	-0	-0	-0	0.01	0.07	-0.12
Miscellaneous Cash Flow Adjustments	7.31	-	-	-	-	-45.07
Net Cash Flow	-25.31	0.23	0.41	-2.09	-140.84	147.71
Free Cash Flow	594.72	690.12	497.09	415.85	434.92	464.78
Free Cash Flow Growth	-14.05%	38.83%	19.54%	-4.38%	-6.42%	9.81%
Free Cash Flow Margin	33.32%	40.69%	31.12%	27.34%	30.41%	33.98%
Free Cash Flow Per Share	1.16	1.36	0.97	0.81	0.85	0.91
Cash Interest Paid	67.21	78.83	49.33	42.52	40.51	26.65
Cash Income Tax Paid	79.6	-27.65	58.5	29.39	0.71	33.85
Levered Free Cash Flow	153.39	174.46	67.6	116.5	-205.78	81.42
Unlevered Free Cash Flow	196.3	224.91	113.14	139.64	-182.21	97.24

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