AS Tallinna Vesi 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	2015 - 2019
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	2015 - 2019
Net Income	13.91	13.28	12.84	8.41	16.17	16.73	Upgrade
Depreciation & Amortization	9.44	8.53	8.06	6.82	6.52	6.28	Upgrade
Loss (Gain) on Sale of Assets	-0.06	-0.06	-0.03	-0.03	-0.03	-0.01	Upgrade
Change in Other Net Operating Assets	0.63	-0.53	-0.24	-2.53	1.32	-0.08	Upgrade
Other Operating Activities	6.31	5.03	3.89	2.37	-1.51	-0.3	Upgrade
Operating Cash Flow	30.23	26.25	24.51	15.03	22.47	22.62	Upgrade
Operating Cash Flow Growth	29.95%	7.07%	63.11%	-33.11%	-0.69%	-33.50%	Upgrade
Capital Expenditures	-55.48	-42.73	-28.89	-20.7	-13.73	-15.68	Upgrade
Sale of Property, Plant & Equipment	5.59	0.11	0.04	0.05	0.03	0.03	Upgrade
Other Investing Activities	2.11	2.19	2.65	1.6	2.9	2.03	Upgrade
Investing Cash Flow	-47.78	-40.43	-26.19	-19.05	-10.8	-13.62	Upgrade
Long-Term Debt Issued	-	25	57.5	-	-	-	Upgrade
Total Debt Issued	40	25	57.5	-	-	-	Upgrade
Long-Term Debt Repaid	-	-4.75	-42.37	-4.16	-4.04	-4.19	Upgrade
Total Debt Repaid	-4.46	-4.75	-42.37	-4.16	-4.04	-4.19	Upgrade
Net Debt Issued (Repaid)	35.54	20.25	15.13	-4.16	-4.04	-4.19	Upgrade
Common Dividends Paid	-10.6	-10.07	-6.52	-12.84	-12.84	-19.89	Upgrade
Dividends Paid	-10.6	-10.07	-6.52	-12.84	-12.84	-19.89	Upgrade
Other Financing Activities	-8.38	-7.15	-4.85	-2.9	-2.73	-5.19	Upgrade
Financing Cash Flow	16.55	3.04	3.77	-19.89	-19.62	-29.27	Upgrade
Net Cash Flow	-1	-11.15	2.09	-23.91	-7.96	-20.26	Upgrade
Free Cash Flow	-25.25	-16.48	-4.37	-5.67	8.73	6.94	Upgrade
Free Cash Flow Growth	-	-	-	-	25.84%	-70.56%	Upgrade
Free Cash Flow Margin	-35.70%	-25.60%	-7.15%	-10.40%	16.39%	13.42%	Upgrade
Free Cash Flow Per Share	-1.26	-0.82	-0.22	-0.28	0.44	0.35	Upgrade
Cash Interest Paid	5.39	5.51	3.41	0.62	0.46	0.72	Upgrade
Cash Income Tax Paid	2.99	1.51	1.35	2.12	2.12	4.36	Upgrade
Levered Free Cash Flow	-36.51	-25.48	-11.03	-7.55	4.33	1.43	Upgrade
Unlevered Free Cash Flow	-34.12	-22.78	-9.03	-7.14	4.56	1.71	Upgrade
Change in Working Capital	0.63	-0.53	-0.24	-2.53	1.32	-0.08	Upgrade

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