Papirfabrikken Invest 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	22.35	144.03	32.82	82.91	10.56
Depreciation & Amortization	3.18	2.56	13.26	10.67	9.55
Other Amortization	-	-	-	0.12	0.35
Other Operating Activities	-6.55	-136.66	-39.38	-55.08	-9.67
Change in Accounts Receivable	15.7	-13.16	-1.95	-22.16	9.24
Change in Inventory	-2.83	-0.01	-0.06	-0.05	0.1
Change in Other Net Operating Assets	-2.65	2.7	-5.2	1.22	-9.56
Operating Cash Flow	29.2	-23.29	-0.52	17.63	10.57
Operating Cash Flow Growth	-	-	-	66.85%	-2.87%
Capital Expenditures	-12.44	-7.45	-5.57	-9.87	-1.52
Sale of Property, Plant & Equipment	0.22	0.64	1.31	-	0.19
Sale (Purchase) of Intangibles	-	-	-4.69	-6.38	-2.65
Sale (Purchase) of Real Estate	-44.89	-46.78	-10.68	-17.32	-4.13
Investment in Securities	18.87	115.26	-	-	0.04
Other Investing Activities	2.7	43.65	41.68	44.09	8.35
Investing Cash Flow	-35.54	105.32	22.05	10.53	0.27
Long-Term Debt Issued	-	13.02	0.45	144.3	-
Total Debt Issued	-	13.02	0.45	144.3	-
Long-Term Debt Repaid	-4.25	-3.76	-3.64	-124.47	-11.26
Total Debt Repaid	-4.25	-3.76	-3.64	-124.47	-11.26
Net Debt Issued (Repaid)	-4.25	9.27	-3.19	19.83	-11.26
Issuance of Common Stock	-	-	-	-	0.35
Common Dividends Paid	-99.02	-	-	-	-
Other Financing Activities	-7.08	4.23	-	-	-
Financing Cash Flow	-110.34	13.49	-3.19	19.83	-10.91
Net Cash Flow	-116.68	95.53	18.34	47.99	-0.07
Free Cash Flow	16.76	-30.74	-6.09	7.76	9.05
Free Cash Flow Growth	-	-	-	-14.26%	-5.70%
Free Cash Flow Margin	22.25%	-41.18%	-4.36%	4.50%	9.56%
Free Cash Flow Per Share	1.69	-3.10	-0.61	0.78	0.91
Cash Interest Paid	13.97	15.16	14.17	8.77	6.19
Cash Income Tax Paid	1.52	0.32	8.21	9.5	0.41
Levered Free Cash Flow	15.65	-34.13	21.7	26.2	7.14
Unlevered Free Cash Flow	24.2	-24.82	30.37	33.62	11.01
Change in Working Capital	10.22	-10.47	-7.21	-20.99	-0.22

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