PAO TMK 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	-21,050	-23,884	38,832	42,369	6,974
Depreciation & Amortization	26,709	25,773	22,560	26,479	17,492
Other Amortization	-	-	-	-	307
Loss (Gain) From Sale of Assets	-427	6,758	1,261	5,926	659
Asset Writedown & Restructuring Costs	2,143	1,111	199	2,731	1,379
Loss (Gain) From Sale of Investments	58	120	-1,004	-694	-3,518
Loss (Gain) on Equity Investments	1,257	-6,283	-188	-62	-83
Other Operating Activities	48,250	72,869	44,361	38,852	32,923
Change in Accounts Receivable	29,980	-16,359	23,747	-37,703	-16,662
Change in Inventory	18,212	16,329	-16,240	-4,993	-32,606
Change in Accounts Payable	-56,078	22,854	3,338	1,786	25,333
Change in Other Net Operating Assets	-29,959	21,057	-52,227	-39,246	63,122
Operating Cash Flow	19,095	120,345	64,639	35,445	95,320
Operating Cash Flow Growth	-84.13%	86.18%	82.36%	-62.81%	95.92%
Capital Expenditures	-16,957	-27,516	-40,166	-18,140	-14,536
Cash Acquisitions	-9	-1,123	-5,312	-15,280	-70,315
Divestitures	5,748	8,644	5,020	-	-
Sale (Purchase) of Intangibles	-934	-1,305	-1,064	-719	-1,417
Other Investing Activities	1,293	1,828	15,044	2,396	-4,079
Investing Cash Flow	-10,827	-18,372	-23,740	-32,111	-85,904
Long-Term Debt Issued	150,773	166,144	149,035	155,846	153,146
Long-Term Debt Repaid	-130,249	-151,262	-116,101	-160,437	-109,784
Net Debt Issued (Repaid)	20,524	14,882	32,934	-4,591	43,362
Issuance of Common Stock	-	4,163	-	-	17,441
Repurchase of Common Stock	-227	-	-	-	-171
Common Dividends Paid	-	-9,939	-20,838	-10,841	-28,286
Other Financing Activities	-53,728	-59,703	-28,962	-36,720	-17,660
Financing Cash Flow	-33,431	-50,597	-16,866	-52,152	14,686
Foreign Exchange Rate Adjustments	-61	48	1,363	-3,346	-798
Net Cash Flow	-25,224	51,424	25,396	-52,164	23,304
Free Cash Flow	2,138	92,829	24,473	17,305	80,784
Free Cash Flow Growth	-97.70%	279.31%	41.42%	-78.58%	111.88%
Free Cash Flow Margin	0.53%	17.44%	4.50%	2.75%	18.83%
Free Cash Flow Per Share	2.03	88.73	23.69	16.75	78.19
Cash Interest Paid	-	59,285	28,679	27,369	21,542
Cash Income Tax Paid	-	4,640	17,440	12,988	6,253
Levered Free Cash Flow	-17,730	34,232	20,686	-7,071	53,060
Unlevered Free Cash Flow	33,384	77,281	40,139	14,091	67,690
Change in Working Capital	-37,845	43,881	-41,382	-80,156	39,187

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