CPH:NTG 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	217	297	374	482	349
Depreciation & Amortization	371	262	224	215	158
Loss (Gain) From Sale of Assets	-	-	-	-6	-
Asset Writedown & Restructuring Costs	-21	-3	-6	1	2
Stock-Based Compensation	17	-11	-38	6	-40
Other Operating Activities	39	17	49	95	44
Change in Other Net Operating Assets	-27	-191	-10	114	-51
Operating Cash Flow	596	371	593	907	462
Operating Cash Flow Growth	60.65%	-37.44%	-34.62%	96.32%	-0.28%
Capital Expenditures	-41	-34	-25	-10	-12
Sale of Property, Plant & Equipment	27	26	10	5	5
Cash Acquisitions	-874	-327	-3	-492	-152
Investment in Securities	3	7	11	-16	-8
Investing Cash Flow	-885	-328	-7	-513	-167
Long-Term Debt Issued	949	123	-	125	100
Long-Term Debt Repaid	-332	-234	-228	-220	-375
Net Debt Issued (Repaid)	617	-111	-228	-95	-275
Repurchase of Common Stock	-	-	-301	-98	-113
Other Financing Activities	-35	-111	-44	-38	-50
Financing Cash Flow	582	-222	-573	-231	-438
Foreign Exchange Rate Adjustments	-11	5	10	-9	6
Net Cash Flow	282	-174	23	154	-137
Free Cash Flow	555	337	568	897	450
Free Cash Flow Growth	64.69%	-40.67%	-36.68%	99.33%	-1.85%
Free Cash Flow Margin	4.88%	3.60%	6.81%	8.77%	6.16%
Free Cash Flow Per Share	25.39	15.79	26.14	39.89	19.79
Cash Interest Paid	144	88	79	52	35
Cash Income Tax Paid	135	127	96	116	82
Levered Free Cash Flow	654.63	282.5	549.38	636.88	401.4
Unlevered Free Cash Flow	742.75	336.25	596.88	668.13	423.28
Change in Working Capital	-27	-191	-10	114	-51

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