Brødrene A & O Johansen Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	200.7	163.4	206.1	294.47	253.82
Depreciation & Amortization	110.5	97.6	98.2	85.55	78.78
Other Amortization	32.3	22.5	15.2	22.95	21.74
Loss (Gain) From Sale of Assets	-1.4	-0.2	-0.3	-0.48	-0.03
Other Operating Activities	21.1	-5	33.9	-5.47	-3.47
Change in Accounts Receivable	-82.4	-65	84.6	-107.16	-71.06
Change in Inventory	-82.1	-2.4	99.7	-219.34	-103.85
Change in Accounts Payable	113.7	-11.7	-191	145.28	132.13
Operating Cash Flow	312.4	199.2	346.4	215.79	308.06
Operating Cash Flow Growth	56.83%	-42.49%	60.52%	-29.95%	-17.93%
Capital Expenditures	-134.4	-116.2	-94.8	-164.53	-170.48
Cash Acquisitions	-	-305.1	-1.5	-127.76	-25.16
Divestitures	-	-	-	-	15.55
Sale (Purchase) of Intangibles	-65.7	-44.1	-33.9	-41.01	-32.4
Investment in Securities	-	-	-	-	-0.25
Investing Cash Flow	-200.1	-465.4	-130.2	-333.3	-212.74
Long-Term Debt Issued	26.6	375.7	92.7	247.97	25
Long-Term Debt Repaid	-51.2	-41.7	-111.7	-110.14	-75.84
Net Debt Issued (Repaid)	-24.6	334	-19	137.83	-50.84
Common Dividends Paid	-81.6	-101.9	-142.7	-122.29	-40.76
Other Financing Activities	-0.1	-	-	-	-
Financing Cash Flow	-106.3	232.1	-161.7	15.54	-91.6
Net Cash Flow	6	-34.1	54.5	-101.97	3.72
Free Cash Flow	178	83	251.6	51.26	137.58
Free Cash Flow Growth	114.46%	-67.01%	390.80%	-62.74%	-59.30%
Free Cash Flow Margin	2.91%	1.53%	4.78%	0.95%	2.87%
Free Cash Flow Per Share	6.51	3.04	9.24	1.89	5.06
Cash Interest Paid	42.1	48.3	33.7	-	2.2
Cash Income Tax Paid	41	55.2	25.2	89.97	71.06
Levered Free Cash Flow	53.26	-43.98	179.67	-133.14	90.05
Unlevered Free Cash Flow	78.58	-13.79	196.86	-127.42	92.75
Change in Working Capital	-50.8	-79.1	-6.7	-181.22	-42.78

Source: S&P Global Market Intelligence. Standard template. Financial Sources.