Bureau Veritas 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	Jun '25 Jun 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	657.4	569.4	503.7	466.7	420.9	125.3
Depreciation & Amortization	286.3	283.7	291.5	297.1	275.2	362.9
Asset Writedown & Restructuring Costs	4.8	-	-	-	-	-
Other Operating Activities	20.6	90.9	78.1	83.6	108.2	171.9
Change in Accounts Receivable	-35.7	-67.6	-130.5	-52.5	-145.7	109.8
Change in Accounts Payable	59.5	40.1	-5.2	33	61.6	49.6
Change in Other Net Operating Assets	11.4	88.3	82.1	7	70.5	-10.4
Operating Cash Flow	1,004	1,005	819.7	834.9	790.7	809.1
Operating Cash Flow Growth	16.78%	22.58%	-1.82%	5.59%	-2.27%	-1.38%
Capital Expenditures	-151.5	-145.9	-157.6	-130.1	-121	-98.4
Sale of Property, Plant & Equipment	6.6	6.1	14.1	4.7	6.5	10.1
Cash Acquisitions	-274.1	-313.9	-58.9	-76.6	-58.4	-20.8
Divestitures	243.6	105.4	17.5	-1.2	1.6	4.5
Investment in Securities	2.7	0.5	-5.9	3.5	2.9	4.3
Other Investing Activities	0.5	-	-	0.1	0.2	0.1
Investing Cash Flow	-173	-347.8	-188	-199.9	-172	-97.5
Long-Term Debt Issued	-	1,000	0.9	201.8	46.3	790.5
Short-Term Debt Repaid	-	-58.3	-29.6	-17.3	-12.9	-1.7
Long-Term Debt Repaid	-	-950	-642.3	-221.9	-626.1	-1,243
Total Debt Repaid	-1,513	-1,008	-671.9	-239.2	-639	-1,244
Net Debt Issued (Repaid)	-794.4	-7.9	-671	-37.4	-592.7	-453.8
Issuance of Common Stock	17.8	18.1	5.7	8.6	45.4	11.5
Repurchase of Common Stock	-185.1	-191.8	-1.9	-49.8	-	-
Common Dividends Paid	-423.3	-406.9	-396.3	-280.9	-186.1	-31.8
Other Financing Activities	-38	-21.7	-17.1	-52.5	-73.2	-86.6
Financing Cash Flow	-1,423	-610.2	-1,081	-412	-806.6	-560.7
Foreign Exchange Rate Adjustments	-58.4	-12.7	-36.7	22.3	11.3	-29.6
Miscellaneous Cash Flow Adjustments	-3.6	-3.6	-	-	-	-
Net Cash Flow	-653.7	30.5	-485.6	245.3	-176.6	121.3
Free Cash Flow	852.8	858.9	662.1	704.8	669.7	710.7
Free Cash Flow Growth	18.35%	29.72%	-6.06%	5.24%	-5.77%	2.63%
Free Cash Flow Margin	12.88%	13.33%	10.93%	12.47%	13.44%	15.45%
Free Cash Flow Per Share	1.89	1.89	1.45	1.54	1.47	1.57
Cash Interest Paid	38	21.7	17.1	52.5	73.2	86.6
Cash Income Tax Paid	291.5	280.5	241.3	230	198.6	161.3
Levered Free Cash Flow	805.43	630.48	610.5	671.8	549.24	603.4
Unlevered Free Cash Flow	863.36	689.41	664.19	722.3	597.8	673.78
Change in Working Capital	35.2	60.8	-53.6	-12.5	-13.6	149

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.