Hensoldt AG 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
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
Net Income	124	108	56	78	63	-65.2
Depreciation & Amortization	135	114	78	82	110	111.8
Other Amortization	41	41	31	21	16	9
Loss (Gain) From Sale of Assets	1	1	-1	-	-1	-
Asset Writedown & Restructuring Costs	7	7	8	-	-	-
Loss (Gain) on Equity Investments	-3	-3	-	-	2	2.6
Other Operating Activities	-40	15	49	46	9	46.7
Change in Accounts Receivable	71	-11	-66	-13	-22	5.3
Change in Inventory	-140	-103	-128	-75	-44	5.3
Change in Accounts Payable	-15	69	78	110	107	-8.6
Change in Other Net Operating Assets	213	73	162	-5	59	90
Operating Cash Flow	394	311	267	244	299	196.9
Operating Cash Flow Growth	62.81%	16.48%	9.43%	-18.39%	51.85%	136.66%
Capital Expenditures	-202	-199	-45	-35	-29	-31.1
Sale of Property, Plant & Equipment	1	2	1	-	3	0.2
Cash Acquisitions	-5	-543	-1	-1	-12	6.4
Sale (Purchase) of Intangibles	-	-	-69	-60	-72	-66.1
Sale (Purchase) of Real Estate	-	-	-1	-	-1	-0.2
Investment in Securities	-24	-4	-8	-5	-7	-4.3
Other Investing Activities	-1	-1	1	-	1	0.1
Investing Cash Flow	-231	-745	-122	-101	-117	-95
Long-Term Debt Issued	-	450	10	-	30	1,047
Long-Term Debt Repaid	-	-33	-19	-188	-310	-934.3
Net Debt Issued (Repaid)	39	417	-9	-188	-280	112.8
Issuance of Common Stock	-	-	241	-	-	300
Common Dividends Paid	-58	-46	-32	-26	-14	-
Other Financing Activities	-7	-4	-3	-	-3	-1.8
Financing Cash Flow	-26	367	197	-214	-297	411
Foreign Exchange Rate Adjustments	3	-3	-	2	-1	-2.5
Miscellaneous Cash Flow Adjustments	4	1	-	-	-	-2.3
Net Cash Flow	144	-69	342	-69	-116	508.1
Free Cash Flow	192	112	222	209	270	165.8
Free Cash Flow Growth	40.15%	-49.55%	6.22%	-22.59%	62.85%	168.28%
Free Cash Flow Margin	8.00%	5.00%	12.02%	12.24%	18.32%	13.74%
Free Cash Flow Per Share	1.65	0.97	2.09	1.99	2.57	1.92
Cash Interest Paid	74	66	44	26	36	43.6
Cash Income Tax Paid	27	18	27	-38	9	5.5
Levered Free Cash Flow	164.88	110.5	132	104.25	146.5	44.38
Unlevered Free Cash Flow	231.13	173	183.25	131.75	172.75	130.44
Change in Working Capital	129	28	46	17	100	92

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