UCB SA Cash Flow Statement

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

Millions EUR. 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	1,558	1,065	343	418	1,058
Depreciation & Amortization	-	641	691	589	323
Stock-Based Compensation	-	2	17	-20	12
Other Adjustments	966	-686	907	1,309	575
Change in Receivables	-	-258	-96	162	-247
Changes in Inventories	-	-278	-124	-29	-24
Changes in Accounts Payable	-	623	-88	-173	431
Changes in Other Operating Activities	-361	-182	-472	-201	12
Operating Cash Flow	2,291	1,242	761	1,119	1,553
Operating Cash Flow Growth	84.46%	63.21%	-31.99%	-27.95%	43.66%
Capital Expenditures	-281	-234	-238	-252	-282
Sale of Property, Plant & Equipment	1	-	-	-	1
Purchases of Intangible Assets	-168	-88	-78	-119	-211
Purchases of Investments	-18	-19	-18	-17	-19
Proceeds from Sale of Investments	88	4	3	19	9
Payments for Business Acquisitions	0	0	-113	-1,212	0
Proceeds from Business Divestments	-11	619	4	0	15
Investing Cash Flow	-389	282	-440	-1,580	-487
Long-Term Debt Issued	0	572	597	763	0
Long-Term Debt Repaid	-641	-756	-424	-284	-716
Net Long-Term Debt Issued (Repaid)	-641	-184	173	479	-716
Repurchase of Common Stock	-121	-162	-40	-42	-60
Net Common Stock Issued (Repurchased)	-121	-162	-40	-42	-60
Common Dividends Paid	-264	-259	-252	-247	-240
Other Financing Activities	-60	-53	-45	-46	-40
Financing Cash Flow	-1,214	-818	-308	70	-1,119
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-10	6	-11	6	-7
Net Cash Flow	688	706	13	-391	-53
Free Cash Flow	2,010	1,008	523	867	1,271
Free Cash Flow Growth	99.41%	92.73%	-39.68%	-31.79%	54.06%
FCF Margin	25.97%	16.38%	9.96%	15.72%	22.00%
Free Cash Flow Per Share	10.35	5.18	2.68	4.45	6.55
Levered Free Cash Flow	275	1,451	285	831	802
Unlevered Free Cash Flow	1,024	1,782	238.78	414.82	1,566

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.