Codere Online Luxembourg (CDRO) Cash Flow: Operating & Free Cash Flow

Codere Online Luxembourg (CDRO) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Codere Online Luxembourg generated EUR 16.51M of operating cash flow and spent EUR 85.00K on capital expenditures. That left free cash flow of EUR 16.42M, up 345.4% from EUR 3.69M a year earlier, or 7.8% of revenue. It repurchased EUR 2.36M of its own shares.

Codere Online Luxembourg Cash Flow Statement Analysis

Values in millions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Codere Online Luxembourg, S.A. (CDRO) - Annual data in millions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	3.31	5.37	-8.93	-43.42	-67.05	-67.05	-16.27	-16.15
Depreciation & Amortization	0.12	0.15	0.11	0.56	0.72	0.72	0.93	1.19
Deferred Income Tax	0.00	0.00	0.00	-0.06	0.00	-	0.00	0.00
Change in Working Capital	6.65	-0.54	2.03	10.53	24.12	21.15	17.11	13.56
Change in Accounts Receivable	5.28	2.14	-9.27	-3.94	10.32	10.32	3.68	-3.78
Change in Inventory	0.00	0.00	0.00	0.00	0.00	-	-3.42	3.77
Change in Accounts Payable	1.36	-2.68	11.30	14.47	13.80	10.82	13.44	17.34
Change in Other Working Capital	-2.77	0.00	-5.53	10.53	0.00	0.05	3.42	-3.77
Other Operating Activities	-2.77	-1.03	-5.53	-17.75	37.01	0.05	1.55	0.16
Net Cash from Operating Activities	16.51	3.94	-11.58	-42.36	-5.19	-5.67	3.43	-1.24
Investing Activities
Capital Expenditures	-0.09	-0.26	-0.25	-0.16	-0.08	-0.08	-0.06	-0.08
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	0.00	-0.02	-0.20
Net Cash from Investing Activities	-0.09	-0.26	-0.25	-0.16	-0.08	-0.08	-0.07	-0.28
Financing Activities
Debt Repayment	-2.03	-1.94	1.33	0.00	0.44	-0.01	0.25	6.81
Common Stock Issued	-2.36	0.00	0.00	0.00	0.00	89.37	0.00	0.00
Common Stock Repurchased	-2.36	0.00	0.00	0.00	0.00	-	0.00	0.00
Other Financing Activities	-0.19	-0.11	0.00	0.00	88.89	89.37	0.00	0.00
Net Cash from Financing Activities	-4.58	-2.04	1.33	0.00	89.33	89.81	0.25	6.81
Summary
Effect of Forex Changes on Cash	-2.17	-2.62	-2.04	1.42	-0.05	-0.05	-0.73	0.09
Net Change in Cash	11.85	-0.97	-10.50	-41.10	84.01	84.06	2.88	5.39
Cash at Beginning of Period	40.31	41.28	53.81	94.91	10.90	10.90	8.02	2.63
Cash at End of Period	49.98	40.31	41.28	53.81	94.91	94.91	10.90	8.02
Free Cash Flow	16.42	3.69	-11.83	-42.52	-5.27	-5.75	3.37	-1.32
Supplemental Disclosures
Interest Paid	-	0.11	-	-	-	-	-	-
Income Taxes Paid	-	2.09	1.22	0.88	-	0.27	0.36	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Codere Online Luxembourg Cash Flow

What is Codere Online Luxembourg's free cash flow?

Codere Online Luxembourg generated free cash flow of EUR 16.42M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of EUR 16.51M minus EUR 85.00K of capital expenditures. That was up 345.4% from EUR 3.69M a year earlier. Free cash flow equaled 7.8% of revenue.

How much does Codere Online Luxembourg spend on capital expenditures?

Codere Online Luxembourg spent EUR 85.00K on capital expenditures in fiscal 2025, compared with EUR 256.00K a year earlier. That equals 0.5% of operating cash flow.

Does Codere Online Luxembourg pay dividends or buy back shares?

Yes. In fiscal 2025 Codere Online Luxembourg returned EUR 2.36M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition