BVB:MAMA Cash Flow Statement

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

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Jan '25 Jan 1, 2025	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	2021 - 2017
Net Income	2.23	2.45	3.88	2.23	4.29	Upgrade
Depreciation & Amortization	0.57	0.49	0.5	0.53	0.53	Upgrade
Other Operating Activities	-1.75	-0.94	-11.8	-1.15	-2.74	Upgrade
Change in Accounts Receivable	-2.31	-1.2	2.61	-5.52	-15.08	Upgrade
Change in Accounts Payable	-0.12	-0.28	-0.46	0.11	-2.94	Upgrade
Change in Other Net Operating Assets	-0	-0	-0.01	-0	0	Upgrade
Operating Cash Flow	-1.38	0.51	-5.27	-3.8	-15.94	Upgrade
Capital Expenditures	-0.66	-1.83	-0.1	-	-0.08	Upgrade
Sale of Property, Plant & Equipment	-	-	-	-	0.01	Upgrade
Other Investing Activities	2.55	1.37	3.26	1.15	2.3	Upgrade
Investing Cash Flow	1.89	-0.45	3.15	1.15	2.23	Upgrade
Long-Term Debt Issued	0.02	-	0.14	0.02	0.3	Upgrade
Long-Term Debt Repaid	-	-0.01	-	-	-0.04	Upgrade
Total Debt Repaid	-	-0.01	-	-	-0.04	Upgrade
Net Debt Issued (Repaid)	0.02	-0.01	0.14	0.02	0.27	Upgrade
Issuance of Common Stock	-	-	-	-	13.98	Upgrade
Financing Cash Flow	0.02	-0.01	0.14	0.02	14.25	Upgrade
Net Cash Flow	0.52	0.05	-1.98	-2.63	0.55	Upgrade
Free Cash Flow	-2.04	-1.31	-5.37	-3.8	-16.01	Upgrade
Free Cash Flow Margin	-54.71%	-34.22%	-169.76%	-122.65%	-476.35%	Upgrade
Free Cash Flow Per Share	-39.78	-0.01	-0.04	-0.03	-0.10	Upgrade
Cash Income Tax Paid	0.32	0.67	-	0.03	0.04	Upgrade
Levered Free Cash Flow	-1.32	-0.69	-4.06	0.93	1.32	Upgrade
Unlevered Free Cash Flow	-1.02	-0.69	1.6	0.93	1.34	Upgrade
Change in Working Capital	-2.43	-1.49	2.14	-5.41	-18.02	Upgrade

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