Financial performance 2024 consolidated financial statements 05 Consolidated statement of cash flows (in € millions) Note 2024 2023 Net income 1,890 1,983 Adjustments n Cost of net debt 10 77 198 n Other financial income and expenses 10 (19) (2) n Net interest on employee benefit obligations 8.1 88 94 n Income tax 11.1 555 507 n Amortization and depreciation of intangible assets and PP&E 6 1,983 1,917 n Other operating income and expenses 7.1 747 920 n Share of loss/(profit) from equity-accounted companies 14 40 (128) Segment EBITDA 2.6 5,361 5,489 Other operating income and expenses (cash) and changes in provisions 10 (246) (218) Interest and other financial income and expenses received and paid, net 10 (42) (193) Income tax paid 11.3 (806) (776) Change in working capital, net of impairment 10 69 985 Net cash from operating activities 4,336 5,287 Purchases of intangible assets and PP&E 10 (2,250) (2,268) Proceeds from sales of intangible assets and PP&E 35 47 Equity investments in consolidated companies, net of cash acquired (7) (793) Disposals of equity investments in consolidated companies, net of cash sold 5 142 Purchases of equity instruments at fair value (9) (15) Disposals of equity instruments at fair value 12 - Cash flows relating to other financial assets 10 103 (43) Net cash from/(used in) investing activities (2,111) (2,930) Proceeds from issuance of shares 15 37 - Dividends paid to the shareholders of the Company 15 (961) (893) Cash flows relating to financial liabilities 10 650 (1,455) Share buybacks 15 (502) - Other (18) 12 Net cash from/(used in) financing activities (794) (2,336) Effect of changes in exchange rates (10) (90) INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 1,421 (69) Cash and cash equivalents at January 1 2,515 2,584 Cash and cash equivalents at December 31 9.2 3,936 2,515 358 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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