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	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	290.3	292.6	246.1	292.2	383.55	316.75
Depreciation & Amortization	149.1	141.4	119.9	113.1	108.01	100.5
Other Adjustments	-14.2	-29.8	-32.5	-27	-4.58	4.67
Change in Receivables	-88.1	-82.4	-65	84.6	-107.16	-71.06
Changes in Inventories	-92.3	-82.1	-2.4	99.7	-219.34	-103.85
Changes in Accounts Payable	275.9	113.7	-11.7	-191	145.28	132.13
Changes in Income Taxes Payable	-31.6	-41	-55.2	-25.2	-89.97	-71.06
Operating Cash Flow	480.9	312.4	199.2	346.4	215.79	308.06
Operating Cash Flow Growth	788.91%	56.83%	-42.49%	60.52%	-29.95%	-17.93%
Capital Expenditures	-145.2	-134.4	-116.2	-94.8	-164.53	-170.48
Purchases of Intangible Assets	-95.7	-65.7	-44.1	-33.9	-41.01	-32.4
Purchases of Investments	-	-	-	-	0	-0.25
Payments for Business Acquisitions	-	0	-305.1	-1.5	-127.76	-25.16
Proceeds from Business Divestments	-	-	-	-	0	15.55
Investing Cash Flow	-240.9	-200.1	-465.4	-130.2	333.3	-212.74
Short-Term Debt Issued	-87.8	26.6	16	-76.4	-	-
Net Short-Term Debt Issued (Repaid)	-87.8	26.6	16	-76.4	-	-
Long-Term Debt Issued	-	0	359.7	92.7	247.97	25
Long-Term Debt Repaid	-	-	-	-	-85.98	-50.3
Net Long-Term Debt Issued (Repaid)	-	0	359.7	92.7	162	-25.3
Common Dividends Paid	-103	-81.6	-101.9	-142.7	-122.29	-40.76
Other Financing Activities	-54.6	-51.2	-41.7	-35.3	-24.17	-25.54
Financing Cash Flow	-245.1	-106.3	232.1	-161.7	15.54	-91.6
Net Cash Flow	-5	6	-34.1	54.5	-101.97	3.72
Free Cash Flow	335.7	178	83	251.6	51.26	137.58
Free Cash Flow Growth	88.60%	114.46%	-67.01%	390.80%	-62.74%	-59.30%
FCF Margin	5.40%	2.91%	1.53%	4.78%	0.95%	2.87%
Free Cash Flow Per Share	12.23	6.51	3.04	9.24	1.89	5.06
Levered Free Cash Flow	271.2	224.9	473.5	124.2	235.92	115.75
Unlevered Free Cash Flow	379.32	223.38	125.8	131.83	78.7	133.74

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.