Ermenegildo Zegna N.V. (ZGN)

Ermenegildo Zegna Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	107.43	90.86	135.66	65.28	-127.66	-46.54
Depreciation & Amortization	250.85	235.95	194.95	173.52	163.37	185.93
Other Adjustments	19.76	70.26	86.66	58.82	233.9	-16.16
Change in Receivables	-7.33	-12.57	-51.02	-15.62	-12.29	35.68
Changes in Inventories	-11.02	-5.9	-72.77	-103.11	-27.55	-39.49
Changes in Accounts Payable	-2.22	-13.1	11.67	43.51	31.43	-38.49
Changes in Other Operating Activities	-96.73	-86.37	-29.77	-75.99	19.97	-10.03
Operating Cash Flow	264.4	279.13	275.38	146.4	281.16	70.91
Operating Cash Flow Growth	-8.28%	1.36%	88.11%	-47.93%	296.52%	-59.28%
Capital Expenditures	-94.23	-100.1	-57.03	-49.11	-79.7	-27.63
Sale of Property, Plant & Equipment	-	-	-	-	3.79	1.13
Purchases of Intangible Assets	-25.18	-25.43	-20.84	-24.19	-14.63	-11.52
Purchases of Investments	-12.54	-30.52	-39.58	-32.52	-80.49	-166.33
Proceeds from Sale of Investments	36.91	41.76	272.66	49.07	93.56	299.18
Payments for Business Acquisitions	-5.05	-19.31	-133.42	-0.59	-4.54	-2.25
Other Investing Activities	-1.8	7.58	-	-	-	-
Investing Cash Flow	-94.32	-126.01	21.79	-57.34	-82	92.57
Long-Term Debt Issued	244.93	259.72	204.42	-	123.57	265.35
Long-Term Debt Repaid	-283.06	-290.78	-306.15	-159.72	-160.21	-221.03
Net Long-Term Debt Issued (Repaid)	-38.13	-31.06	-101.73	-159.72	-36.64	44.32
Issuance of Common Stock	-	-	8.06	14.31	648.47	-
Repurchase of Common Stock	-	-	-	-	-455.38	-0.95
Net Common Stock Issued (Repurchased)	-	-	8.06	14.31	193.08	-0.95
Common Dividends Paid	-	-30.29	-25.03	-21.85	-0.1	-
Other Financing Activities	-160.26	-173.18	-131.8	-129.74	-220.45	-92.43
Financing Cash Flow	-228.67	-234.53	-250.49	-297	-64.11	-49.05
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-6.83	4.27	-4.72	2.46	7.45	-7.76
Net Cash Flow	-65.42	-77.15	41.96	-205.47	142.5	106.67
Free Cash Flow	170.17	179.03	218.35	97.28	201.46	43.28
Free Cash Flow Growth	-4.95%	-18.01%	124.44%	-51.71%	365.51%	-66.19%
FCF Margin	8.89%	9.20%	11.46%	6.52%	15.59%	4.26%
Free Cash Flow Per Share	0.67	0.70	0.87	0.40	0.99	-
Levered Free Cash Flow	103.6	76.5	66.86	-119.43	-65.13	64.04
Unlevered Free Cash Flow	157.68	146.55	214.05	84.25	-16.29	37.03

Updated Jun 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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