Enlight Renewable Energy Cash Flow Statement

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

Millions USD. 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	132.1	44.21	70.92	24.75	11.22
Depreciation & Amortization	149.92	108.89	65.8	42.27	20.5
Loss (Gain) From Sale of Assets	-96.43	-	-	-	-
Loss (Gain) on Equity Investments	3.72	3.35	0.33	0.31	0.19
Stock-Based Compensation	10.47	8.36	4.97	8.67	3.98
Other Operating Activities	92.37	24.86	-8.17	36.14	28.61
Change in Accounts Receivable	-27.37	-9.89	-2.84	-23.36	-6.94
Change in Accounts Payable	5.18	0.75	15.47	0.78	1.18
Change in Other Net Operating Assets	12.68	12.56	3.14	0.81	-6.71
Operating Cash Flow	282.65	193.07	149.62	90.38	52.02
Operating Cash Flow Growth	46.39%	29.04%	65.55%	73.72%	34.04%
Capital Expenditures	-1,813	-899.26	-730.98	-656.14	-492.76
Cash Acquisitions	-6.54	-32.78	-12.7	-60.95	-157.68
Divestitures	34.3	1.87	-	-	-
Investment in Securities	-6.48	-14.72	26.92	-12.71	-23.72
Other Investing Activities	-389.59	3.52	-81.31	-90.2	36.02
Investing Cash Flow	-2,181	-941.37	-798.07	-820	-644.64
Long-Term Debt Issued	2,025	1,118	707.24	606.92	867.31
Long-Term Debt Repaid	-562.34	-734.41	-224.57	-132.33	-335.24
Total Debt Repaid	-562.34	-734.41	-224.57	-132.33	-335.24
Net Debt Issued (Repaid)	1,462	383.13	482.67	474.59	532.08
Issuance of Common Stock	290.75	0.02	266.46	206.63	175.1
Repurchase of Common Stock	-	-	-	-1.75	-
Other Financing Activities	253.39	362.84	106.17	5.27	45.13
Financing Cash Flow	2,006	745.99	855.31	684.74	752.31
Foreign Exchange Rate Adjustments	32.83	-8.32	3.08	-27.18	6.9
Miscellaneous Cash Flow Adjustments	-	-5.75	-	-	-
Net Cash Flow	141.07	-16.38	209.94	-72.06	166.6
Free Cash Flow	-1,530	-706.19	-581.36	-565.77	-440.73
Free Cash Flow Margin	-313.13%	-186.85%	-227.36%	-294.41%	-430.15%
Free Cash Flow Per Share	-11.54	-5.73	-4.69	-5.66	-4.49
Cash Interest Paid	86.86	74.89	54.47	33.12	24.38
Cash Income Tax Paid	14.27	11.25	12.24	3.7	3.5
Levered Free Cash Flow	-1,620	-702.67	-662.42	-592.41	-400.98
Unlevered Free Cash Flow	-1,518	-643.31	-625.33	-557.55	-381.73
Change in Working Capital	-9.51	3.41	15.77	-21.76	-12.48

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