Adecco Group 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 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	295	303	325	342	586
Depreciation & Amortization	214	146	168	195	119
Other Amortization	-	98	89	75	67
Asset Writedown & Restructuring Costs	-	-	-	-	31
Stock-Based Compensation	-	19	19	21	21
Provision & Write-off of Bad Debts	-	28	17	20	5
Other Operating Activities	61	-62	8	-91	-27
Change in Accounts Receivable	-249	340	184	-389	-170
Change in Accounts Payable	368	-94	-235	142	119
Change in Other Net Operating Assets	-76	-71	-12	228	-29
Operating Cash Flow	613	707	563	543	722
Operating Cash Flow Growth	-13.30%	25.58%	3.68%	-24.79%	0.28%
Capital Expenditures	-130	-144	-216	-215	-132
Sale of Property, Plant & Equipment	-	15	54	3	2
Cash Acquisitions	-42	-6	-6	-1,235	-175
Divestitures	-	-	-	-	122
Other Investing Activities	16	-22	-41	1	-23
Investing Cash Flow	-156	-157	-209	-1,446	-206
Long-Term Debt Issued	-	296	-	350	1,484
Total Debt Issued	-	296	-	350	1,484
Short-Term Debt Repaid	-42	-35	-83	-345	-16
Long-Term Debt Repaid	-243	-433	-103	-928	-261
Total Debt Repaid	-285	-468	-186	-1,273	-277
Net Debt Issued (Repaid)	-285	-172	-186	-923	1,207
Issuance of Common Stock	-	-	-	-	229
Repurchase of Common Stock	-	-20	-	-5	-93
Common Dividends Paid	-176	-432	-422	-204.5	-365
Other Financing Activities	-1	-10	-12	-46	2
Financing Cash Flow	-462	-634	-620	-1,383	980
Foreign Exchange Rate Adjustments	-109	31	3	40	91
Net Cash Flow	-114	-53	-263	-2,246	1,587
Free Cash Flow	483	563	347	328	590
Free Cash Flow Growth	-14.21%	62.25%	5.79%	-44.41%	4.80%
Free Cash Flow Margin	2.09%	2.43%	1.45%	1.39%	2.82%
Free Cash Flow Per Share	2.87	3.34	2.06	1.96	3.63
Cash Interest Paid	-	54	54	24	10
Cash Income Tax Paid	-	155	146	227	195
Levered Free Cash Flow	508.75	678.63	399.38	457.38	423.63
Unlevered Free Cash Flow	551.25	724.25	447.5	488	443.63
Change in Working Capital	43	175	-63	-19	-80

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