Hrvatski Telekom d.d. 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	143	141.87	132.03	86.99	81.83
Depreciation & Amortization	278.9	219.08	223.1	217.67	237.78
Other Amortization	-	52.95	47.13	46.04	63.74
Loss (Gain) From Sale of Assets	-	-4.18	-0.5	-5.92	-1.73
Asset Writedown & Restructuring Costs	-	1.95	0.75	1.92	8.38
Loss (Gain) on Equity Investments	-	-	-	18.8	-
Provision & Write-off of Bad Debts	-	4.3	12.05	8.47	-
Other Operating Activities	34.4	-7.64	-11.59	15.77	-7.58
Change in Accounts Receivable	-14.3	-19.89	-71.44	-46.62	20.36
Change in Inventory	-4.8	-10.66	1.02	-9.67	-5.19
Change in Accounts Payable	-	14.58	25.33	9.23	-26.48
Change in Unearned Revenue	-	4.5	1.72	-1.73	2.26
Change in Other Net Operating Assets	-29.7	4.17	0.92	3.96	7.45
Operating Cash Flow	407.5	401.02	360.51	344.9	380.82
Operating Cash Flow Growth	1.62%	11.24%	4.53%	-9.43%	13.64%
Capital Expenditures	-215.9	-207.82	-303.57	-194.77	-205.18
Sale of Property, Plant & Equipment	2.1	5.25	1.18	16.75	2.26
Divestitures	-	-	-	-	-0.4
Investment in Securities	-0.1	29.49	10.54	26.68	1.86
Other Investing Activities	2.8	7.59	-19.41	-7.26	-4.39
Investing Cash Flow	-211.1	-165.49	-311.26	-158.61	-205.84
Short-Term Debt Repaid	-	-41.47	-34.61	-43.3	-43.51
Long-Term Debt Repaid	-49.8	-47.2	-45.57	-42.13	-49.1
Total Debt Repaid	-49.8	-88.67	-80.18	-85.43	-92.61
Net Debt Issued (Repaid)	-49.8	-88.67	-80.18	-85.43	-92.61
Repurchase of Common Stock	-	-29.86	-22.42	-24.28	-13.31
Common Dividends Paid	-125.44	-119.21	-86.46	-83.65	-85.16
Other Financing Activities	-77.76	-1.21	-0.54	-0.66	-0.67
Financing Cash Flow	-253	-238.95	-189.6	-194.02	-191.74
Foreign Exchange Rate Adjustments	-	-	-	0.08	-0.8
Net Cash Flow	-56.6	-3.42	-140.34	-7.65	-17.56
Free Cash Flow	191.6	193.21	56.95	150.13	175.64
Free Cash Flow Growth	-0.83%	239.27%	-62.07%	-14.52%	77.04%
Free Cash Flow Margin	16.78%	17.54%	5.48%	15.27%	17.85%
Free Cash Flow Per Share	2.51	2.48	0.73	1.90	2.19
Cash Interest Paid	6.11	6.55	6.53	5.37	10.38
Cash Income Tax Paid	31.43	38.81	34.42	17.44	23.55
Levered Free Cash Flow	205.85	171.2	82.78	133.79	153.04
Unlevered Free Cash Flow	211.95	176.79	87.54	139.01	158.94
Change in Working Capital	-48.8	-7.3	-42.46	-44.83	-1.6

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