Valamar Riviera 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	44.15	25.8	27.03	19.6	13.89
Depreciation & Amortization	77.83	66.27	63.55	63.21	64.81
Other Amortization	-	2.6	2.23	2.84	2.7
Loss (Gain) From Sale of Assets	-0.58	-0.15	-0.12	-1.6	-2.01
Asset Writedown & Restructuring Costs	1.19	1.23	1.08	-	0.52
Loss (Gain) From Sale of Investments	-1.77	1.65	1.79	-	-1.23
Loss (Gain) on Equity Investments	0.3	0.83	0.93	-	-0.05
Provision & Write-off of Bad Debts	0.06	0.01	-0.12	-	0.35
Other Operating Activities	4.79	16.33	6.8	6.76	11.44
Change in Accounts Receivable	-3	-0.6	-2.87	0.84	2.67
Change in Inventory	-2.09	-2.79	-1.89	-2.01	0.5
Change in Accounts Payable	14.44	6.79	23.22	-	-3.01
Change in Other Net Operating Assets	-	-	-	2.5	-
Operating Cash Flow	135.32	117.99	121.63	92.15	90.57
Operating Cash Flow Growth	14.69%	-2.99%	32.00%	1.74%	-
Capital Expenditures	-164.72	-116.96	-58.6	-42.11	-13.56
Sale of Property, Plant & Equipment	0.89	0.29	0.18	2.37	0.5
Divestitures	-	-	-	-	-0.43
Sale (Purchase) of Intangibles	-	-	-	-	-1.79
Investment in Securities	-	-0.65	-2.59	-0.15	-
Other Investing Activities	0.96	-1.01	-5.24	-5.44	0.01
Investing Cash Flow	-151.57	-106.16	-66.25	-57.12	-20.91
Long-Term Debt Issued	121.67	90.22	17.37	7.99	50.54
Long-Term Debt Repaid	-106.99	-52.03	-70.18	-76.39	-96.08
Net Debt Issued (Repaid)	14.68	38.19	-52.8	-68.41	-45.54
Repurchase of Common Stock	-4.95	-0.6	-1.77	-	-
Common Dividends Paid	-35.2	-27.07	-24.38	-19.41	-
Other Financing Activities	-10.04	-17.79	-10.54	-5.93	35.66
Financing Cash Flow	-35.51	-7.26	-89.5	-93.74	-9.87
Net Cash Flow	-51.76	4.57	-34.12	-58.72	59.79
Free Cash Flow	-29.4	1.03	63.03	50.04	77.01
Free Cash Flow Growth	-	-98.36%	25.96%	-35.03%	-
Free Cash Flow Margin	-6.38%	0.25%	17.16%	15.66%	36.05%
Free Cash Flow Per Share	-0.24	0.01	0.51	0.41	0.63
Cash Interest Paid	-	12.49	8.34	11.48	9.4
Cash Income Tax Paid	-	4.8	0	0	-0.09
Levered Free Cash Flow	-42.28	1.16	35.67	32.76	54.76
Unlevered Free Cash Flow	-35.03	9.77	41.91	37.79	60.69
Change in Working Capital	9.35	3.41	18.46	1.33	0.17

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