Cellnex Telecom Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	-28.04	-297.22	-297.06	-362.54	-135.43
Depreciation & Amortization	2,492	2,519	2,421	1,646	951.24
Other Amortization	116.75	100.43	45.21	30.33	22.73
Loss (Gain) From Sale of Assets	-122.06	-66.58	-145.65	-	-
Asset Writedown & Restructuring Costs	509	-	-	-	0.21
Loss (Gain) on Equity Investments	3.09	2.64	4.24	3.22	-0.05
Other Operating Activities	-719.27	-208.63	-181.93	-175.77	-37.99
Change in Accounts Receivable	7.82	3.15	34.17	-253.34	-63.93
Change in Inventory	-1.08	-1.82	-1.29	-0.61	-0.01
Change in Other Net Operating Assets	48.77	17.03	-49.68	253.88	53.51
Operating Cash Flow	2,307	2,068	1,829	1,141	790.28
Operating Cash Flow Growth	11.55%	13.05%	60.29%	44.40%	88.36%
Capital Expenditures	-2,030	-2,194	-2,569	-1,521	-759.65
Cash Acquisitions	888.11	645.68	-3,280	-12,358	-5,112
Investment in Securities	-34.46	-44.2	-101.44	-23.72	-
Other Investing Activities	-	-	-	-	-23.88
Investing Cash Flow	-1,177	-1,592	-5,950	-13,904	-5,895
Long-Term Debt Issued	1,220	3,908	3,032	6,264	5,001
Long-Term Debt Repaid	-2,460	-3,872	-1,485	-952.99	-1,549
Net Debt Issued (Repaid)	-1,240	36.35	1,547	5,311	3,452
Issuance of Common Stock	-	-	-	6,766	3,983
Repurchase of Common Stock	-	-199.71	-286.28	-	-
Common Dividends Paid	-44.28	-40.29	-36.64	-	-
Other Financing Activities	-10.34	-1.94	-	-	-
Financing Cash Flow	-1,294	-205.59	1,224	12,076	7,434
Foreign Exchange Rate Adjustments	-45.26	-15.64	8.42	-39.37	-28.68
Net Cash Flow	-209.67	254.26	-2,888	-725.45	2,300
Free Cash Flow	276.24	-126	-739.37	-380.26	30.63
Free Cash Flow Margin	6.79%	-3.31%	-22.77%	-15.60%	1.96%
Free Cash Flow Per Share	0.50	-0.19	-1.10	-0.62	0.08
Cash Interest Paid	747.44	751.96	626.13	441.97	259.98
Cash Income Tax Paid	198.54	180.59	95.93	165.57	38.58
Levered Free Cash Flow	518.49	-687.27	-307.95	49.16	326.68
Unlevered Free Cash Flow	1,029	-213.48	93.48	348.01	498.39
Change in Working Capital	55.51	18.36	-16.8	-0.07	-10.43

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