DSV A/S 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
Stock-Based Compensation	371	359	327	267	202	160
Other Adjustments	16,342	16,093	15,536	15,365	23,804	16,646
Changes in Other Operating Activities	541	5,029	-4,212	826	2,840	-4,604
Operating Cash Flow	17,204	21,481	11,651	16,458	26,846	12,202
Operating Cash Flow Growth	17.65%	84.37%	-29.21%	-38.70%	120.01%	18.74%
Capital Expenditures	-2,331	-2,065	-2,092	-2,030	-1,514	-1,180
Sale of Property, Plant & Equipment	2,651	329	984	1,258	824	420
Purchases of Intangible Assets	-711	-523	-337	-345	-280	-303
Payments for Business Acquisitions	-75,790	-75,790	-	-685	-	1,631
Other Investing Activities	207	326	-930	-228	4	-148
Investing Cash Flow	-75,867	-77,723	-2,375	-2,030	-966	420
Long-Term Debt Issued	15,550	14,211	41,406	212	4,393	12,834
Long-Term Debt Repaid	-34,179	-27,824	-6,697	-4,232	-7,453	-3,649
Net Long-Term Debt Issued (Repaid)	-18,629	-13,613	34,709	-4,020	-3,060	9,185
Issuance of Common Stock	4,268	2,080	38,107	1,794	618	784
Repurchase of Common Stock	-	-	-3,347	-13,997	-20,313	-17,841
Net Common Stock Issued (Repurchased)	4,268	2,080	34,760	-12,203	-19,695	-17,057
Common Dividends Paid	-1,683	-1,683	-1,533	-1,424	-1,320	-920
Other Financing Activities	-469	-241	7	73	-170	112
Financing Cash Flow	-16,066	-13,457	67,943	-17,574	-24,245	-8,680
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-595	-698	-95	-562	226	297
Net Cash Flow	-74,729	-69,699	77,219	-3,146	1,635	3,942
Free Cash Flow	14,873	19,416	9,559	14,428	25,332	11,022
Free Cash Flow Growth	-23.40%	103.12%	-33.75%	-43.04%	129.83%	20.39%
FCF Margin	5.39%	7.85%	5.72%	9.57%	10.75%	6.05%
Free Cash Flow Per Share	62.95	82.22	44.42	66.95	109.92	47.38
Levered Free Cash Flow	-13,497	-2,554	38,514	7,091	15,834	14,606
Unlevered Free Cash Flow	8,158	13,473	5,251	12,131	19,656	6,105

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