ISS A/S 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	5,206	5,162	279	2,058	615
Depreciation & Amortization	1,387	1,336	1,322	1,379	1,535
Other Amortization	264	224	211	207	289
Asset Writedown & Restructuring Costs	-	-	937	-	450
Stock-Based Compensation	93	93	72	80	62
Other Operating Activities	-2,360	-2,175	997	-112	-388
Change in Accounts Receivable	-761	-1,014	-800	-882	-110
Change in Inventory	2	-14	-24	-61	4
Change in Accounts Payable	224	533	1,020	1,387	1,162
Change in Other Net Operating Assets	-66	-380	-468	-665	-435
Operating Cash Flow	3,989	3,727	3,392	3,333	3,221
Operating Cash Flow Growth	7.03%	9.88%	1.77%	3.48%	-
Capital Expenditures	-667	-634	-719	-809	-628
Sale of Property, Plant & Equipment	16	15	16	30	42
Cash Acquisitions	-341	-510	-373	-325	-526
Divestitures	-90	-350	25	587	1,191
Investment in Securities	85	-57	9	-29	-6
Other Investing Activities	-187	-	-	-	-
Investing Cash Flow	-1,184	-1,536	-1,042	-546	73
Short-Term Debt Issued	403	-	-	-	-
Long-Term Debt Issued	-	3,696	-	-	-
Total Debt Issued	403	3,696	-	-	-
Long-Term Debt Repaid	-4,625	-3,200	-791	-865	-2,524
Net Debt Issued (Repaid)	-4,222	496	-791	-865	-2,524
Repurchase of Common Stock	-2,810	-1,217	-	-	-
Common Dividends Paid	-534	-425	-390	-	-
Other Financing Activities	-72	-259	-153	-65	-308
Financing Cash Flow	-7,638	-1,405	-1,334	-930	-2,832
Foreign Exchange Rate Adjustments	-267	-50	-137	-71	224
Net Cash Flow	-5,100	736	879	1,786	686
Free Cash Flow	3,322	3,093	2,673	2,524	2,593
Free Cash Flow Growth	7.40%	15.71%	5.90%	-2.66%	-
Free Cash Flow Margin	3.92%	3.69%	3.40%	3.42%	3.63%
Free Cash Flow Per Share	19.67	16.87	14.22	13.48	13.94
Cash Interest Paid	705	671	578	486	473
Cash Income Tax Paid	585	462	428	422	528
Levered Free Cash Flow	2,629	2,480	2,636	2,778	3,089
Unlevered Free Cash Flow	3,091	2,943	2,997	3,041	3,336
Change in Working Capital	-601	-875	-272	-221	621

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