Givaudan Cash Flow Statement

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

Millions CHF. 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	1,071	1,090	893	856	821
Depreciation & Amortization	314	307	302	321	352
Other Amortization	57	55	56	45	41
Asset Writedown & Restructuring Costs	2	11	25	1	7
Loss (Gain) From Sale of Investments	-12	-107	84	184	59
Stock-Based Compensation	52	59	29	4	67
Other Operating Activities	-15	253	-64	-196	37
Change in Accounts Receivable	-39	-191	-112	-112	-93
Change in Inventory	-83	-126	43	-82	-165
Change in Accounts Payable	117	187	105	-95	167
Change in Other Net Operating Assets	48	87	12	22	-5
Operating Cash Flow	1,512	1,625	1,373	948	1,288
Operating Cash Flow Growth	-6.95%	18.35%	44.83%	-26.40%	8.33%
Capital Expenditures	-249	-236	-215	-226	-186
Sale of Property, Plant & Equipment	16	13	4	15	9
Cash Acquisitions	-217	-229	-183	-	-400
Divestitures	-	5	-	-	-
Sale (Purchase) of Intangibles	-52	-57	-60	-78	-70
Investment in Securities	14	79	-13	-6	-92
Other Investing Activities	108	-23	-	-133	-167
Investing Cash Flow	-380	-448	-467	-428	-906
Short-Term Debt Issued	2,065	1,201	2,858	2,817	1,514
Long-Term Debt Issued	465	234	738	708	316
Total Debt Issued	2,530	1,435	3,596	3,525	1,830
Short-Term Debt Repaid	-2,821	-1,631	-3,111	-3,035	-1,510
Long-Term Debt Repaid	-63	-61	-439	-59	-71
Total Debt Repaid	-2,884	-1,692	-3,550	-3,094	-1,581
Net Debt Issued (Repaid)	-354	-257	46	431	249
Repurchase of Common Stock	-27	-35	-29	-51	-69
Common Dividends Paid	-645	-627	-617	-607	-589
Other Financing Activities	-83	-107	-99	-81	-109
Financing Cash Flow	-1,109	-1,026	-699	-308	-518
Foreign Exchange Rate Adjustments	-34	-2	-82	-11	-1
Net Cash Flow	-11	149	125	201	-137
Free Cash Flow	1,263	1,389	1,158	722	1,102
Free Cash Flow Growth	-9.07%	19.95%	60.39%	-34.48%	10.09%
Free Cash Flow Margin	16.90%	18.74%	16.75%	10.14%	16.49%
Free Cash Flow Per Share	136.16	149.89	125.10	78.03	118.61
Cash Interest Paid	84	92	97	72	72
Cash Income Tax Paid	232	152	121	182	153
Levered Free Cash Flow	1,131	884.13	999	292.88	893.25
Unlevered Free Cash Flow	1,194	952.38	1,068	350.25	945.88
Change in Working Capital	43	-43	48	-267	-96

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.