Cellnex Telecom 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	-360.78	-28.04	-297.22	-297.06	-362.54
Depreciation & Amortization	2,627	2,492	2,519	2,421	1,646
Other Amortization	46.35	116.75	100.43	45.21	30.33
Loss (Gain) From Sale of Assets	-24.64	-122.06	-66.58	-145.65	-
Asset Writedown & Restructuring Costs	83.92	510.3	-	-	-
Loss (Gain) on Equity Investments	2.61	3.09	2.64	4.24	3.22
Other Operating Activities	-133.09	-720.57	-208.63	-181.93	-175.77
Change in Accounts Receivable	124.56	7.82	3.15	34.17	-253.34
Change in Inventory	0.39	-1.08	-1.82	-1.29	-0.61
Change in Other Net Operating Assets	-79.82	48.77	17.03	-49.68	253.88
Operating Cash Flow	2,286	2,307	2,068	1,829	1,141
Operating Cash Flow Growth	-0.89%	11.55%	13.05%	60.29%	44.40%
Capital Expenditures	-1,760	-2,030	-2,194	-2,569	-1,521
Cash Acquisitions	1,034	888.11	645.68	-3,280	-12,358
Investment in Securities	-23.25	-34.46	-44.2	-101.44	-23.72
Investing Cash Flow	-749.47	-1,177	-1,592	-5,950	-13,904
Long-Term Debt Issued	1,659	1,220	3,908	3,032	6,264
Long-Term Debt Repaid	-1,775	-2,460	-3,872	-1,485	-952.99
Net Debt Issued (Repaid)	-115.71	-1,240	36.35	1,547	5,311
Issuance of Common Stock	-	-	-	-	6,766
Repurchase of Common Stock	-1,000	-	-199.71	-286.28	-
Common Dividends Paid	-11.83	-44.28	-40.29	-36.64	-
Other Financing Activities	14.42	-10.34	-1.94	-	-
Financing Cash Flow	-1,113	-1,294	-205.59	1,224	12,076
Foreign Exchange Rate Adjustments	-12.9	-45.26	-15.64	8.42	-39.37
Net Cash Flow	410.21	-209.67	254.26	-2,888	-725.45
Free Cash Flow	525.82	276.24	-126	-739.37	-380.26
Free Cash Flow Growth	90.35%	-	-	-	-
Free Cash Flow Margin	12.76%	6.79%	-3.31%	-22.77%	-15.60%
Free Cash Flow Per Share	0.77	0.39	-0.19	-1.10	-0.62
Cash Interest Paid	758.14	747.44	751.96	626.13	441.97
Cash Income Tax Paid	227.3	198.54	180.59	95.93	165.57
Levered Free Cash Flow	2,054	536.13	-687.27	-307.95	49.16
Unlevered Free Cash Flow	2,424	1,029	-213.48	93.48	348.01
Change in Working Capital	45.14	55.51	18.36	-16.8	-0.07

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