FRA:PAH3 Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019 - 2015
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019 - 2015
Net Income	-21,259	-20,017	5,074	5,492	4,566	2,623	Upgrade
Depreciation & Amortization	1	1	1	1	1	1	Upgrade
Loss (Gain) From Sale of Investments	21,123	19,878	-5,208	-5,263	-4,615	-2,700	Upgrade
Other Operating Activities	840	1,570	2,023	562	759	834	Upgrade
Change in Other Net Operating Assets	2	-1	-17	-1	2	-	Upgrade
Operating Cash Flow	707	1,431	1,873	816	708	773	Upgrade
Operating Cash Flow Growth	-55.95%	-23.60%	129.53%	15.25%	-8.41%	7.06%	Upgrade
Divestitures	-	-	-	201	-	-	Upgrade
Investment in Securities	698	-277	-243	-7,487	-3	-184	Upgrade
Other Investing Activities	-1	-	-	-1	-1	-2	Upgrade
Investing Cash Flow	697	-277	-243	-7,287	-4	-186	Upgrade
Long-Term Debt Issued	-	1,591	4,711	7,070	-	-	Upgrade
Long-Term Debt Repaid	-	-771	-5,151	-1	-1	-1	Upgrade
Net Debt Issued (Repaid)	-689	820	-440	7,069	-1	-1	Upgrade
Common Dividends Paid	-584	-783	-783	-783	-676	-676	Upgrade
Other Financing Activities	1	-	1	-	-14	-3	Upgrade
Financing Cash Flow	-1,272	37	-1,222	6,286	-691	-680	Upgrade
Miscellaneous Cash Flow Adjustments	-2	1	-	-1	-1	-1	Upgrade
Net Cash Flow	130	1,192	408	-186	12	-94	Upgrade
Free Cash Flow	707	1,431	1,873	816	708	773	Upgrade
Free Cash Flow Growth	-55.95%	-23.60%	129.53%	15.25%	-8.41%	7.96%	Upgrade
Free Cash Flow Per Share	-	4.67	6.12	2.66	2.31	2.52	Upgrade
Cash Interest Paid	330	317	248	52	1	2	Upgrade
Cash Income Tax Paid	-	-	-311	-	4	-	Upgrade
Levered Free Cash Flow	-503	-236.38	222	-75	-248.25	19.88	Upgrade
Unlevered Free Cash Flow	-279.88	-11.38	422	-35	-248.25	21.75	Upgrade
Change in Working Capital	2	-1	-17	-1	2	-	Upgrade

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