Kering 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	72	1,133	2,983	3,614	3,176
Depreciation & Amortization	2,053	2,099	1,840	1,668	1,448
Asset Writedown & Restructuring Costs	-	125	53	39	74
Loss (Gain) on Equity Investments	-	10	-4	-2	-1
Other Operating Activities	905	675	-17	-139	217
Change in Accounts Receivable	109	165	24	-196	-13
Change in Inventory	163	568	-102	-1,015	-429
Change in Accounts Payable	-101	-113	-126	494	173
Change in Other Net Operating Assets	-101	47	-192	-185	231
Operating Cash Flow	3,158	4,709	4,459	4,270	4,874
Operating Cash Flow Growth	-32.94%	5.61%	4.43%	-12.39%	68.98%
Capital Expenditures	-830	-3,309	-2,611	-1,071	-956
Sale of Property, Plant & Equipment	2,158	32	135	1	6
Cash Acquisitions	-478	-35	-5,093	-1,565	-466
Divestitures	344	-	-	-32	-
Investment in Securities	-60	57	195	-120	927
Other Investing Activities	79	70	76	17	37
Investing Cash Flow	1,213	-3,185	-7,298	-2,770	-452
Long-Term Debt Issued	788	2,493	6,379	2,085	215
Long-Term Debt Repaid	-2,777	-1,968	-1,837	-1,728	-1,359
Net Debt Issued (Repaid)	-1,989	525	4,542	357	-1,144
Issuance of Common Stock	-	2	-	38	-
Repurchase of Common Stock	-	-	-10	-1,030	-538
Common Dividends Paid	-736	-1,716	-1,712	-1,483	-998
Other Financing Activities	-725	-707	-443	-26	-247
Financing Cash Flow	-3,450	-1,896	2,377	-2,144	-2,927
Foreign Exchange Rate Adjustments	57	31	18	222	21
Net Cash Flow	978	-341	-444	-422	1,516
Free Cash Flow	2,328	1,400	1,848	3,199	3,918
Free Cash Flow Growth	66.29%	-24.24%	-42.23%	-18.35%	86.80%
Free Cash Flow Margin	15.86%	8.14%	9.45%	15.72%	22.20%
Free Cash Flow Per Share	18.97	11.41	15.10	25.95	31.44
Cash Interest Paid	667	610	377	298	222
Cash Income Tax Paid	334	438	1,434	1,746	1,473
Levered Free Cash Flow	2,295	643.38	1,255	2,586	4,237
Unlevered Free Cash Flow	2,684	1,020	1,480	2,699	4,332
Change in Working Capital	70	667	-396	-902	-38

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