CPH:SCHO 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	701	650	950	935	960	1,008
Depreciation & Amortization	1,131	1,131	1,103	1,071	931	860
Asset Writedown & Restructuring Costs	303	303	1	50	63	-1
Other Operating Activities	45	2	-34	98	-87	-73
Change in Accounts Receivable	19	19	-523	28	-280	-871
Change in Inventory	518	518	817	945	-1,912	-1,614
Change in Accounts Payable	273	273	239	-1,350	644	1,208
Operating Cash Flow	2,702	2,896	2,553	1,777	319	517
Operating Cash Flow Growth	3.84%	13.44%	43.67%	457.05%	-38.30%	-77.48%
Capital Expenditures	-534	-569	-652	-819	-1,068	-751
Sale of Property, Plant & Equipment	39	78	12	8	5	54
Cash Acquisitions	-68	-68	-6	-684	-414	-45
Divestitures	-	-	-	-	-	1
Sale (Purchase) of Intangibles	-38	-39	-39	-48	-38	-21
Investment in Securities	82	86	-3	-1	6	3
Other Investing Activities	17	18	39	29	10	-10
Investing Cash Flow	-549	-592	-623	-1,521	-1,499	-924
Short-Term Debt Issued	-	1,129	-	-	-	317
Long-Term Debt Issued	-	2	1,194	1,677	2,569	536
Total Debt Issued	1,331	1,131	1,194	1,677	2,569	853
Short-Term Debt Repaid	-	-	-565	-494	-207	-
Long-Term Debt Repaid	-	-1,991	-1,613	-1,191	-332	-265
Total Debt Repaid	-1,991	-1,991	-2,178	-1,685	-539	-265
Net Debt Issued (Repaid)	-660	-860	-984	-8	2,030	588
Issuance of Common Stock	15	181	46	94	-	-
Repurchase of Common Stock	-202	-370	-291	-75	-292	-6
Common Dividends Paid	-368	-368	-374	-353	-356	-335
Other Financing Activities	-473	-472	-25	-25	-5	-10
Financing Cash Flow	-1,688	-1,889	-1,628	-367	1,377	237
Miscellaneous Cash Flow Adjustments	-10	-53	6	-17	25	25
Net Cash Flow	455	362	308	-128	222	-145
Free Cash Flow	2,168	2,327	1,901	958	-749	-234
Free Cash Flow Growth	10.33%	22.41%	98.43%	-	-	-
Free Cash Flow Margin	6.40%	6.82%	5.48%	2.57%	-2.30%	-0.97%
Free Cash Flow Per Share	94.75	101.45	81.67	40.74	-31.66	-9.72
Cash Interest Paid	370	370	549	-	-	-
Cash Income Tax Paid	456	456	444	452	269	381
Levered Free Cash Flow	2,245	1,877	1,690	472.38	-1,409	-576.81
Unlevered Free Cash Flow	2,435	2,100	2,024	752.38	-1,304	-525.56
Change in Working Capital	522	810	533	-377	-1,548	-1,277

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