Kaluga Power Sale Company Cash Flow Statement

Financials in millions RUB. Fiscal year is January - December.

Millions RUB. 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	83.67	123.95	113.07	96.78	86.37
Depreciation & Amortization	468.56	453.01	162.7	155.29	170.26
Other Amortization	-	-	-	22.75	-
Loss (Gain) on Sale of Assets	-0.45	0.71	-	-	-
Loss (Gain) on Sale of Investments	16.24	111.46	-0.63	20.05	-
Change in Accounts Receivable	-303.71	-59.66	-115.31	-159.71	-111.37
Change in Inventory	0.04	2.04	-5.57	-12.83	-4.94
Change in Accounts Payable	821.99	-205.07	51.24	-60.94	201.9
Change in Income Taxes	-18.79	63.17	-11.5	12.4	-2.71
Other Operating Activities	-405.6	58.32	-38.9	-64.9	-35.38
Operating Cash Flow	1,077	495.56	714.3	361.72	513.19
Operating Cash Flow Growth	117.31%	-30.62%	97.47%	-29.52%	66.12%
Capital Expenditures	-249.19	-355.39	-354.37	-255.49	-165
Sale of Property, Plant & Equipment	-	-	-	-	0.06
Cash Acquisitions	-	0.38	-	-	-
Sale (Purchase) of Intangibles	-63.33	-46.87	-6	-9.94	-14.14
Other Investing Activities	572.03	-573.71	125.76	125.33	80.51
Investing Cash Flow	259.51	-975.59	-234.61	-140.1	-98.57
Short-Term Debt Issued	2,806	4,424	4,889	5,657	6,273
Long-Term Debt Issued	1,000	1,216	-	-	-
Total Debt Issued	3,806	5,639	4,889	5,657	6,273
Short-Term Debt Repaid	-4,725	-4,205	-4,569	-5,925	-5,546
Long-Term Debt Repaid	-276.14	-841.17	-543.75	-24.4	-1,325
Total Debt Repaid	-5,001	-5,046	-5,113	-5,949	-6,871
Net Debt Issued (Repaid)	-1,195	593.21	-223.75	-291.8	-598.1
Issuance of Common Stock	10.15	-	0.02	-	34.68
Repurchase of Common Stock	-0.08	-15.9	-0.01	-21.77	-34.68
Financing Cash Flow	-1,185	577.31	-223.75	-313.57	-598.1
Net Cash Flow	151.5	97.29	255.95	-91.95	-183.48
Free Cash Flow	827.75	140.17	359.94	106.22	348.19
Free Cash Flow Growth	490.51%	-61.06%	238.85%	-69.49%	31.27%
Free Cash Flow Margin	2.36%	0.47%	1.32%	0.42%	1.42%
Free Cash Flow Per Share	11.02	1.88	4.79	1.42	4.64
Cash Interest Paid	-	577.76	390.79	466.54	446.34
Cash Income Tax Paid	-	39.17	27.44	23.67	48.07
Levered Free Cash Flow	892.43	110.19	310.47	73.2	277.97
Unlevered Free Cash Flow	1,371	486.24	597.58	412.41	590.76
Change in Working Capital	499.53	-199.52	-81.14	-221.07	82.88

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