Aperam 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	9	231	203	625	968
Depreciation & Amortization	255	178	167	159	129
Asset Writedown & Restructuring Costs	4	-41	-49	-20	-11
Other Operating Activities	-22	-131	-69	197	-51
Change in Accounts Receivable	-	75	16	96	-132
Change in Inventory	-	81	292	-335	-748
Change in Accounts Payable	-	-113	-60	-19	395
Change in Other Net Operating Assets	176	-	-29	-61	-
Operating Cash Flow	422	280	471	642	550
Operating Cash Flow Growth	50.71%	-40.55%	-26.64%	16.73%	81.52%
Capital Expenditures	-174	-166	-301	-296	-152
Cash Acquisitions	-415	-	-	-	-31
Other Investing Activities	-	11	-2	-1	-
Investing Cash Flow	-589	-155	-303	-297	-183
Short-Term Debt Issued	-	11	157	95	-
Long-Term Debt Issued	449	1	-	299	75
Total Debt Issued	449	12	157	394	75
Short-Term Debt Repaid	-	-184	-125	-253	-18
Long-Term Debt Repaid	-	-19	-39	-215	-9
Total Debt Repaid	-	-203	-164	-468	-27
Net Debt Issued (Repaid)	449	-191	-7	-74	48
Repurchase of Common Stock	-	-	-	-194	-105
Common Dividends Paid	-144	-144	-144	-150	-139
Other Financing Activities	-26	-1	-1	-1	-1
Financing Cash Flow	279	-336	-152	-419	-197
Foreign Exchange Rate Adjustments	-3	-16	-30	7	-4
Net Cash Flow	109	-227	-14	-67	166
Free Cash Flow	248	114	170	346	398
Free Cash Flow Growth	117.54%	-32.94%	-50.87%	-13.06%	105.16%
Free Cash Flow Margin	4.08%	1.82%	2.58%	4.24%	7.80%
Free Cash Flow Per Share	3.39	1.57	2.34	4.59	5.00
Cash Interest Paid	-	45	43	19	-
Cash Income Tax Paid	9	16	34	118	56
Levered Free Cash Flow	80.75	169.63	114.13	218.13	-401.88
Unlevered Free Cash Flow	137	199	141	231.88	-395.63
Change in Working Capital	176	43	219	-319	-485

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