ALK-Abelló Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,280	1,197	815	486	335	219
Depreciation & Amortization	-	328	272	245	238	242
Stock-Based Compensation	-	45	51	30	27	36
Other Adjustments	886	1,287	957	641	547	522
Change in Receivables	-	-389	78	-69	-172	-5
Changes in Inventories	-	-126	-272	-132	-74	-84
Changes in Accounts Payable	-	366	43	-2	11	61
Changes in Income Taxes Payable	-107	-81	-95	-60	-78	-100
Changes in Other Operating Activities	130	-129	-147	-217	-247	-51
Operating Cash Flow	2,189	1,817	1,213	667	416	468
Operating Cash Flow Growth	65.96%	49.79%	81.86%	60.34%	-11.11%	55.48%
Capital Expenditures	-271	-276	-260	-310	-298	-218
Purchases of Intangible Assets	-122	-84	-1,043	-69	-55	-45
Payments for Business Acquisitions	-	-10	-115	-	-	-
Other Investing Activities	-27	-36	10	-4	6	2
Investing Cash Flow	-416	-385	-1,417	-375	-351	-266
Long-Term Debt Issued	-298	-	671	671	60	226
Long-Term Debt Repaid	-58	-734	-329	-682	-133	-496
Net Long-Term Debt Issued (Repaid)	-356	-734	342	-11	-73	-270
Issuance of Common Stock	-	-	6	-	42	31
Net Common Stock Issued (Repurchased)	-	-	6	-	42	31
Common Dividends Paid	-355	-	-	-	-	-
Other Financing Activities	-20	-26	-38	-20	-11	-72
Financing Cash Flow	-731	-760	310	-31	-42	-311
Net Cash Flow	1,042	672	106	261	23	-109
Free Cash Flow	1,918	1,541	953	357	118	250
Free Cash Flow Growth	24.46%	61.70%	166.95%	202.54%	-52.80%	138.09%
FCF Margin	29.23%	24.41%	17.21%	7.40%	2.62%	6.38%
Free Cash Flow Per Share	8.69	6.95	4.30	1.61	0.53	1.13
Levered Free Cash Flow	676	545	698	-1	-186	-201
Unlevered Free Cash Flow	1,039	1,293	382.22	24.27	-95.76	79.2