Phoenix Vega Mezz 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	-10.65	59.6	11.19	4.84	6.73
Loss (Gain) From Sale of Investments	21.21	-51.34	-2.51	4.3	-1.45
Other Operating Activities	-12.21	-9.5	-10.15	-10.57	-6.46
Change in Accounts Receivable	0.01	0.02	0.38	-	-
Change in Accounts Payable	-0.01	-0	0.01	-0.01	0.14
Change in Other Net Operating Assets	9.08	10.6	20.02	24.22	12.34
Operating Cash Flow	7.43	9.39	18.94	22.77	11.31
Operating Cash Flow Growth	-20.83%	-50.42%	-16.84%	101.40%	-
Other Investing Activities	0.12	0.47	0.28	-	-
Investing Cash Flow	0.12	0.47	0.28	-	-
Issuance of Common Stock	-	-	-	-	0
Repurchase of Common Stock	-8	-16	-18.01	-18.01	-
Other Financing Activities	-	-	-	-0.08	-0.02
Financing Cash Flow	-8	-16	-18.01	-18.09	-0.02
Net Cash Flow	-0.45	-6.15	1.21	4.68	11.29
Cash Interest Paid	-	-	-	0.08	0.02
Cash Income Tax Paid	1.3	0.86	1.12	1.33	0.69
Levered Free Cash Flow	-5.82	38.16	8.35	1.86	-
Unlevered Free Cash Flow	-5.82	38.16	8.35	1.91	-
Change in Working Capital	9.08	10.63	20.4	24.21	12.48

Source: S&P Capital IQ. Standard template. Financial Sources.