Raval ACS 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	4.56	4.04	0.06	2.43	10.33
Depreciation & Amortization	15.82	16.94	21.92	26.79	24.8
Other Amortization	4.21	4.82	-	-	-
Loss (Gain) From Sale of Assets	0.2	-0.01	0.03	-0.02	-0.26
Loss (Gain) From Sale of Investments	-	0.02	0.41	1.83	-1.19
Other Operating Activities	2.39	-0.64	0.26	-1.96	0.83
Change in Accounts Receivable	2.01	-5.24	8.14	-4.65	10.56
Change in Inventory	1.05	1.35	8.21	-9.85	-3.39
Change in Accounts Payable	2.62	-5.74	-3.65	3.71	-4.2
Change in Other Net Operating Assets	-0.78	0.22	-5.16	2.51	-0.42
Operating Cash Flow	32.07	15.75	30.22	20.79	37.07
Operating Cash Flow Growth	103.64%	-47.89%	45.38%	-43.91%	-26.22%
Capital Expenditures	-7.16	-7.3	-6.52	-6.36	-10.24
Sale of Property, Plant & Equipment	0.03	0.02	0.14	0.05	0.07
Sale (Purchase) of Intangibles	-2.55	-2.61	-3.22	-4.02	-3.79
Investment in Securities	-	-	-	-	0.08
Other Investing Activities	-	-	-	0.13	0.17
Investing Cash Flow	-9.68	-9.89	-9.6	-10.19	-13.71
Short-Term Debt Issued	-	12.04	-	-	0.23
Long-Term Debt Issued	-	9	16	10	8.93
Total Debt Issued	-	21.04	16	10	9.16
Short-Term Debt Repaid	-9.11	-	-14.44	-1.11	-
Long-Term Debt Repaid	-13.06	-19.17	-24.25	-20.64	-25.41
Total Debt Repaid	-22.17	-19.17	-38.69	-21.75	-25.41
Net Debt Issued (Repaid)	-22.17	1.87	-22.69	-11.75	-16.25
Issuance of Common Stock	-	-	-	-	0.01
Repurchase of Common Stock	-	-1.44	-1.07	-	-
Common Dividends Paid	-3.73	-5	-4.97	-5.12	-18.18
Financing Cash Flow	-25.9	-4.57	-28.72	-16.87	-34.42
Foreign Exchange Rate Adjustments	-1.27	0.42	-0.79	0.15	2.24
Net Cash Flow	-4.78	1.72	-8.88	-6.13	-8.83
Free Cash Flow	24.91	8.45	23.71	14.43	26.83
Free Cash Flow Growth	194.79%	-64.36%	64.27%	-46.20%	-30.84%
Free Cash Flow Margin	12.41%	3.81%	10.17%	5.90%	11.56%
Free Cash Flow Per Share	0.30	0.10	0.28	0.16	0.32
Cash Interest Paid	5.92	5.06	5.32	3.33	2.94
Cash Income Tax Paid	0.04	0.75	3.39	3.11	3.78
Levered Free Cash Flow	26.27	10.38	24.48	14.86	21.41
Unlevered Free Cash Flow	26.86	10.88	25.02	15.45	22.05
Change in Working Capital	4.89	-9.41	7.55	-8.28	2.55

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