ISS 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 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	2,733	2,581	279	2,058	615	-5,205
Depreciation & Amortization	1,375	1,336	1,322	1,379	1,535	1,680
Other Amortization	224	224	211	207	289	264
Asset Writedown & Restructuring Costs	-	-	937	-	450	432
Stock-Based Compensation	96	93	72	80	62	27
Other Operating Activities	260	406	997	-112	-388	-69
Change in Accounts Receivable	-746	-1,014	-800	-882	-110	2,775
Change in Inventory	-7	-14	-24	-61	4	89
Change in Accounts Payable	534	533	1,020	1,387	1,162	-1,913
Change in Other Net Operating Assets	-278	-380	-468	-665	-435	1,512
Operating Cash Flow	4,195	3,727	3,392	3,333	3,221	-361
Operating Cash Flow Growth	24.08%	9.88%	1.77%	3.48%	-	-
Capital Expenditures	-652	-634	-719	-809	-628	-712
Sale of Property, Plant & Equipment	13	15	16	30	42	31
Cash Acquisitions	-214	-510	-373	-325	-526	-102
Divestitures	-39	-350	25	587	1,191	505
Investment in Securities	-48	-57	9	-29	-6	-48
Investing Cash Flow	-382	-1,536	-1,042	-546	73	-326
Long-Term Debt Issued	-	3,696	-	-	-	3,694
Long-Term Debt Repaid	-	-3,200	-791	-865	-2,524	-3,253
Net Debt Issued (Repaid)	-3,109	496	-791	-865	-2,524	441
Repurchase of Common Stock	-2,093	-1,217	-	-	-	-
Common Dividends Paid	-534	-425	-390	-	-	-
Other Financing Activities	3,441	-259	-153	-65	-308	662
Financing Cash Flow	-2,295	-1,405	-1,334	-930	-2,832	1,103
Foreign Exchange Rate Adjustments	-238	-50	-137	-71	224	-344
Net Cash Flow	1,280	736	879	1,786	686	72
Free Cash Flow	3,543	3,093	2,673	2,524	2,593	-1,073
Free Cash Flow Growth	29.83%	15.71%	5.90%	-2.66%	-	-
Free Cash Flow Margin	4.18%	3.69%	3.40%	3.42%	3.63%	-1.52%
Free Cash Flow Per Share	20.07	16.87	14.22	13.48	13.94	-5.81
Cash Interest Paid	770	671	578	486	473	514
Cash Income Tax Paid	485	462	428	422	528	666
Levered Free Cash Flow	2,994	2,480	2,636	2,778	3,089	-114.63
Unlevered Free Cash Flow	3,459	2,943	2,997	3,041	3,336	204.75
Change in Working Capital	-497	-875	-272	-221	621	2,463

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