CPH:NTG 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
Net Income	223	217	297	374	482	349
Depreciation & Amortization	387	371	262	224	215	158
Loss (Gain) From Sale of Assets	-	-	-	-	-6	-
Asset Writedown & Restructuring Costs	-21	-21	-3	-6	1	2
Stock-Based Compensation	17	17	-11	-38	6	-40
Other Operating Activities	54	39	17	49	95	44
Change in Other Net Operating Assets	-94	-27	-191	-10	114	-51
Operating Cash Flow	566	596	371	593	907	462
Operating Cash Flow Growth	26.06%	60.65%	-37.44%	-34.62%	96.32%	-0.28%
Capital Expenditures	-34	-41	-34	-25	-10	-12
Sale of Property, Plant & Equipment	27	27	26	10	5	5
Cash Acquisitions	-558	-874	-327	-3	-492	-152
Investment in Securities	-2	3	7	11	-16	-8
Investing Cash Flow	-567	-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)	-96	617	-111	-228	-95	-275
Repurchase of Common Stock	-25	-	-	-301	-98	-113
Other Financing Activities	-50	-35	-111	-44	-38	-50
Financing Cash Flow	-171	582	-222	-573	-231	-438
Foreign Exchange Rate Adjustments	-3	-11	5	10	-9	6
Net Cash Flow	-175	282	-174	23	154	-137
Free Cash Flow	532	555	337	568	897	450
Free Cash Flow Growth	31.36%	64.69%	-40.67%	-36.68%	99.33%	-1.85%
Free Cash Flow Margin	4.56%	4.88%	3.60%	6.81%	8.77%	6.16%
Free Cash Flow Per Share	24.18	25.39	15.79	26.14	39.89	19.79
Cash Interest Paid	138	144	88	79	52	35
Cash Income Tax Paid	130	135	127	96	116	82
Levered Free Cash Flow	667.75	654.63	282.5	549.38	636.88	401.4
Unlevered Free Cash Flow	754	742.75	336.25	596.88	668.13	423.28
Change in Working Capital	-94	-27	-191	-10	114	-51