ARYZTA AG 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 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jul '23 Jul 29, 2023	Jul '22 Jul 30, 2022
Net Income	112.3	129.6	113.29	112	0.9
Depreciation & Amortization	117.8	116.9	114.07	113.9	110.9
Other Amortization	15.6	14	13.69	13.6	12.9
Loss (Gain) From Sale of Assets	-	-	-	-	45.4
Asset Writedown & Restructuring Costs	-0.7	-0.8	-2.54	-3.6	-9.4
Stock-Based Compensation	2.2	6.5	1.34	-1	3.8
Other Operating Activities	-10.2	-1.4	-7.2	-8.1	16.3
Change in Accounts Receivable	4.5	2.5	-11.65	-22.8	-8.3
Change in Inventory	6.8	-3	-4.16	-11	-32.2
Change in Accounts Payable	9.4	34.6	21.74	58.4	60.8
Operating Cash Flow	257.7	298.9	238.59	251.4	200.1
Operating Cash Flow Growth	-13.78%	25.28%	-5.10%	25.64%	137.37%
Capital Expenditures	-85.6	-82.5	-54.28	-54.1	-83.3
Sale of Property, Plant & Equipment	1.7	0.9	3.18	3.8	4.8
Divestitures	-	-	-0.56	-0.8	-
Sale (Purchase) of Intangibles	-12.4	-11.8	-10.52	-9	-6.1
Sale (Purchase) of Real Estate	-	-	-	-	0.9
Other Investing Activities	-	-	-	-	92.6
Investing Cash Flow	-96.3	-93.4	-62.19	-60.1	8.9
Long-Term Debt Issued	26.7	661.3	-	150	386.1
Total Debt Issued	26.7	661.3	95.22	150	386.1
Long-Term Debt Repaid	-184.3	-847.5	-	-397.8	-314.5
Total Debt Repaid	-184.3	-847.5	-318.78	-397.8	-314.5
Net Debt Issued (Repaid)	-157.6	-186.2	-223.55	-247.8	71.6
Repurchase of Common Stock	-0.9	-9.7	-3.6	-0.5	-
Common Dividends Paid	-7	-34.7	-46.38	-50.8	-215
Financing Cash Flow	-165.5	-230.6	-273.53	-299.1	-143.4
Foreign Exchange Rate Adjustments	-4.4	-1.7	-3.04	-7.2	9.3
Net Cash Flow	-8.5	-26.8	-100.16	-115	74.9
Free Cash Flow	172.1	216.4	184.31	197.3	116.8
Free Cash Flow Growth	-20.47%	17.41%	-6.59%	68.92%	38833.33%
Free Cash Flow Margin	7.74%	9.86%	8.57%	9.29%	6.65%
Free Cash Flow Per Share	6.93	8.69	7.41	7.93	4.71
Cash Interest Paid	51.3	52.5	35.15	26.4	14.8
Cash Income Tax Paid	35.8	32.5	22.73	17	30.3
Levered Free Cash Flow	136.98	149.38	-	152.59	187.61
Unlevered Free Cash Flow	167.48	184.19	-	172.21	199.11
Change in Working Capital	20.7	34.1	5.93	24.6	20.3

Source: S&P Global Market Intelligence. Standard template. Financial Sources.