| EUR millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (419.0) | (383.6) | (583.2) | (481.4) | (378.1) | (219.0) | +42.1% | |
| Depreciation & amortization | 9.4 | 15.4 | 18.0 | 18.9 | 17.7 | 17.0 | −4.0% | |
| Stock-based compensation | 53.2 | 66.8 | 64.2 | 66.7 | 95.5 | 0.0 | −100.0% | |
| Change in working capital | (1.0) | (47.7) | (12.5) | (99.8) | (107.2) | 68.2 | +163.6% | |
| Operating cash flow | (271.5) | (417.6) | (495.7) | (467.4) | (306.2) | 51.8 | +116.9% | |
| Capital expenditure | (21.6) | (24.2) | (14.5) | (2.4) | (1.4) | (8.2) | −471.1% | |
| Acquisitions | 0.0 | (10.2) | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (291.2) | (110.6) | 61.7 | 286.5 | 6.9 | (8.2) | −218.5% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | (21.6) | (105.3) | (1.8) | 0.0 | (16.7) | — | |
| Debt issued / repaid | (4.8) | (6.4) | 496.9 | 125.8 | 122.8 | (21.1) | −117.2% | |
| Financing cash flow | 602.7 | 351.4 | 396.8 | 134.3 | 443.9 | 34.9 | −92.1% | |
| Free cash flow | (293.1) | (441.9) | (510.2) | (469.8) | (307.6) | 43.6 | +114.2% | |
| Net change in cash | (13.6) | (138.3) | (1.5) | (52.6) | 167.4 | 122.6 | −26.7% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in EUR; the shares trade in USD.
