| EUR millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (168.6) | 318.7 | 320.2 | 176.7 | 155.8 | 42.7 | −72.6% | |
| Depreciation & amortization | 6.6 | 7.7 | 8.2 | 9.2 | 0.0 | 0.0 | — | |
| Stock-based compensation | 2.3 | 0.0 | 12.1 | 16.2 | 0.0 | 0.0 | — | |
| Change in working capital | (285.5) | (182.3) | (263.8) | (256.6) | (296.0) | (284.7) | +3.8% | |
| Operating cash flow | (356.1) | 125.0 | 187.4 | (132.1) | 184.1 | 307.3 | +66.9% | |
| Capital expenditure | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (87.8) | 11.7 | (775.8) | (356.5) | (97.9) | (515.8) | −426.7% | |
| Dividends paid | (84.0) | (67.5) | (105.2) | (122.6) | (130.8) | (139.4) | −6.5% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (31.5) | 297.7 | 126.3 | (2.7) | 150.0 | 242.9 | +61.9% | |
| Financing cash flow | (59.3) | 203.2 | 22.7 | (78.3) | (7.3) | 101.1 | +1484.2% | |
| Free cash flow | (356.1) | 125.0 | 187.4 | (132.1) | 184.1 | 307.3 | +66.9% | |
| Net change in cash | (503.9) | 342.0 | (558.8) | (246.7) | 16.6 | (110.9) | −766.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
