Adecco Group AG 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	Sep '25 Sep 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	280	303	325	342	586	-98
Depreciation & Amortization	117	146	168	195	119	136
Other Amortization	98	98	89	75	67	73
Asset Writedown & Restructuring Costs	-	-	-	-	31	371
Stock-Based Compensation	19	19	19	21	21	16
Provision & Write-off of Bad Debts	28	28	17	20	5	33
Other Operating Activities	23	-62	8	-91	-27	38
Change in Accounts Receivable	-201	340	184	-389	-170	235
Change in Accounts Payable	312	-94	-235	142	119	38
Change in Other Net Operating Assets	-48	-71	-12	228	-29	-122
Operating Cash Flow	628	707	563	543	722	720
Operating Cash Flow Growth	17.82%	25.58%	3.68%	-24.79%	0.28%	-18.18%
Capital Expenditures	-125	-144	-216	-215	-132	-157
Sale of Property, Plant & Equipment	15	15	54	3	2	2
Cash Acquisitions	-37	-6	-6	-1,235	-175	-31
Divestitures	-	-	-	-	122	-
Other Investing Activities	-2	-22	-41	1	-23	24
Investing Cash Flow	-149	-157	-209	-1,446	-206	-162
Long-Term Debt Issued	-	296	-	350	1,484	259
Total Debt Issued	297	296	-	350	1,484	259
Short-Term Debt Repaid	-	-35	-83	-345	-16	-2
Long-Term Debt Repaid	-	-433	-103	-928	-261	-117
Total Debt Repaid	-466	-468	-186	-1,273	-277	-119
Net Debt Issued (Repaid)	-169	-172	-186	-923	1,207	140
Issuance of Common Stock	-	-	-	-	229	-
Repurchase of Common Stock	-	-20	-	-5	-93	-46
Common Dividends Paid	-176	-432	-422	-204.5	-365	-381
Other Financing Activities	-7	-10	-12	-46	2	-3
Financing Cash Flow	-352	-634	-620	-1,383	980	-290
Foreign Exchange Rate Adjustments	-55	31	3	40	91	-116
Net Cash Flow	72	-53	-263	-2,246	1,587	152
Free Cash Flow	503	563	347	328	590	563
Free Cash Flow Growth	42.90%	62.25%	5.79%	-44.41%	4.80%	-22.24%
Free Cash Flow Margin	2.19%	2.43%	1.45%	1.39%	2.82%	2.88%
Free Cash Flow Per Share	2.99	3.34	2.06	1.96	3.63	3.48
Cash Interest Paid	54	54	54	24	10	20
Cash Income Tax Paid	155	155	146	227	195	290
Levered Free Cash Flow	468.25	678.63	399.38	457.38	423.63	568.13
Unlevered Free Cash Flow	512.63	724.25	447.5	488	443.63	586.88
Change in Working Capital	63	175	-63	-19	-80	151

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