Talgo 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	-185.13	-106.07	13.69	1.44	27.56	-17.45
Depreciation & Amortization	4.04	10.52	11.45	12.14	12.98	12.17
Other Amortization	24.69	13.86	5.79	5.63	5.63	4.57
Loss (Gain) From Sale of Assets	0.03	0.03	0.04	0.05	-0.02	0.02
Provision & Write-off of Bad Debts	0.81	0.45	0.65	1.02	0.95	0.58
Other Operating Activities	107.14	111.71	18.21	25.24	-3.62	15.79
Change in Accounts Receivable	-86.35	-172.38	-44.82	-51.67	-102.03	-92.34
Change in Inventory	-18.88	-28.73	-1.75	-76.49	11.69	-29.84
Change in Accounts Payable	83.42	56.56	-119.67	61.74	91.88	20.27
Change in Other Net Operating Assets	6.1	3.26	0.65	-4.36	-15.38	0.68
Operating Cash Flow	-64.13	-110.8	-115.76	-25.26	29.65	-85.56
Capital Expenditures	-4.27	-4.6	-5.66	-3.81	-8.91	-8.84
Sale of Property, Plant & Equipment	-	-	-	-	0.03	-
Cash Acquisitions	-	-	7.87	-	3.89	-
Sale (Purchase) of Intangibles	-42.92	-43.97	-20.8	-18.58	-16.24	-15.86
Other Investing Activities	-	-	-	-	10.05	-
Investing Cash Flow	-47.19	-48.57	-18.6	-22.38	-11.18	-24.7
Long-Term Debt Issued	-	234.25	165.89	72.72	117.37	95.89
Long-Term Debt Repaid	-	-135.47	-104.49	-29.87	-111.04	-68.64
Net Debt Issued (Repaid)	116.55	98.78	61.39	42.85	6.33	27.25
Repurchase of Common Stock	-	-1.23	-8.76	-7.95	-0.12	-14.24
Common Dividends Paid	-	-	-1.93	-1.68	-	-
Financing Cash Flow	116.55	97.55	50.71	33.22	6.21	13.01
Foreign Exchange Rate Adjustments	-0.14	-0.65	0.01	0.83	-	-
Net Cash Flow	5.09	-62.47	-83.63	-13.59	24.67	-97.25
Free Cash Flow	-68.4	-115.4	-121.42	-29.06	20.73	-94.4
Free Cash Flow Margin	-11.46%	-17.17%	-18.55%	-6.17%	3.72%	-19.30%
Free Cash Flow Per Share	-0.56	-0.94	-0.98	-0.24	0.17	-0.76
Cash Interest Paid	43.53	36.98	21.51	9.59	7.56	6.08
Cash Income Tax Paid	0.76	1.5	13.82	3.67	6.43	3.12
Levered Free Cash Flow	-140.67	-216.43	-164.07	-56.99	-2.12	-108.23
Unlevered Free Cash Flow	-120.04	-200	-139.84	-49.52	2.96	-104.18
Change in Working Capital	-15.71	-141.3	-165.59	-70.77	-13.84	-101.24

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