Gyldendal 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	40.56	22.69	29.74	-60.63	33.66
Depreciation & Amortization	15.14	12.58	18.13	-52.18	21.63
Other Amortization	56.07	56.27	62.13	61.71	56.25
Loss (Gain) From Sale of Assets	-	2.71	0.09	6.85	-
Asset Writedown & Restructuring Costs	-	-	-	84.51	-
Other Operating Activities	-1.88	4.56	-15.22	48.35	33.61
Change in Accounts Receivable	-21.38	-12.41	-4.52	34.78	2.77
Change in Inventory	4.15	1.58	2.94	-4.13	-6.17
Change in Other Net Operating Assets	2.73	-7.68	-11.25	-18.88	-48.47
Operating Cash Flow	95.39	80.31	84.87	117.66	54.43
Operating Cash Flow Growth	18.78%	-5.37%	-27.87%	116.15%	-71.26%
Capital Expenditures	-4.39	-0.77	-2.93	-24.28	-9.1
Sale of Property, Plant & Equipment	-	-	-	1.88	0.28
Cash Acquisitions	-59.01	-	-	-	-27.25
Sale (Purchase) of Intangibles	-46.74	-43.59	-53.77	-71.43	-67.4
Investment in Securities	-	60.2	11.11	1.08	-79.72
Other Investing Activities	-0	-0	-	-1.29	0
Investing Cash Flow	-110.13	15.85	-45.6	-94.04	-183.19
Short-Term Debt Issued	-	-	-	-	65.18
Total Debt Issued	-	-	-	-	65.18
Short-Term Debt Repaid	-	-13.17	-34	-18.01	-
Long-Term Debt Repaid	-3.03	-3.71	-5.28	-2.7	-7.11
Total Debt Repaid	-3.03	-16.88	-39.27	-20.71	-7.11
Net Debt Issued (Repaid)	-3.03	-16.88	-39.27	-20.71	58.07
Common Dividends Paid	-20.21	-	-	-20.21	-20.21
Other Financing Activities	-	-	-	-	-0
Financing Cash Flow	-23.24	-16.88	-39.27	-40.92	37.86
Net Cash Flow	-37.98	79.28	-	-17.3	-90.89
Free Cash Flow	91.01	79.54	81.93	93.38	45.33
Free Cash Flow Growth	14.41%	-2.92%	-12.26%	106.00%	-74.60%
Free Cash Flow Margin	11.39%	11.01%	11.37%	13.13%	5.99%
Free Cash Flow Per Share	90.05	78.71	81.08	92.40	44.85
Cash Interest Paid	0.69	2.92	6.59	3.26	2.03
Cash Income Tax Paid	21.72	7.07	1.48	3.67	11.53
Levered Free Cash Flow	35.77	26.46	17.97	-56.69	20.22
Unlevered Free Cash Flow	36.2	28.11	21.67	-54.65	21.48
Change in Working Capital	-14.5	-18.5	-12.83	11.77	-51.87

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