Sats ASA Cash Flow Statement

Financials in millions NOK. Fiscal year is January - December.

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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	429	326	224	-246	-452	-325
Depreciation & Amortization	1,109	1,140	1,126	1,048	987	995
Other Amortization	95	58	52	72	55	50
Loss (Gain) From Sale of Assets	-2	-1	-1	9	3	77
Other Operating Activities	318	394	379	243	196	315
Change in Accounts Receivable	-	-23	-11	-8	3	16
Change in Inventory	-3	1	2	-	-9	-7
Change in Accounts Payable	65	49	13	-21	18	-3
Change in Other Net Operating Assets	44	9	-26	-15	119	-5
Operating Cash Flow	2,055	1,953	1,758	1,082	920	1,113
Operating Cash Flow Growth	10.19%	11.09%	62.48%	17.61%	-17.34%	-17.25%
Capital Expenditures	-343	-287	-167	-256	-130	-230
Sale of Property, Plant & Equipment	3	2	1	1	1	1
Cash Acquisitions	-	-	-	-49	-9	-60
Divestitures	-	-	-	-	-	-42
Sale (Purchase) of Intangibles	-32	-	-	-	-102	-
Other Investing Activities	-10	3	-6	-9	-	-
Investing Cash Flow	-382	-282	-172	-313	-240	-331
Long-Term Debt Issued	-	113	-	200	200	575
Long-Term Debt Repaid	-	-1,397	-1,235	-1,161	-802	-805
Net Debt Issued (Repaid)	-1,086	-1,284	-1,235	-961	-602	-230
Issuance of Common Stock	49	5	14	604	11	27
Repurchase of Common Stock	-177	-	-21	-	-	-20
Common Dividends Paid	-127	-	-	-	-	-
Other Financing Activities	-285	-301	-345	-324	-286	-276
Financing Cash Flow	-1,626	-1,580	-1,587	-681	-877	-499
Foreign Exchange Rate Adjustments	-3	-2	-63	-24	22	7
Miscellaneous Cash Flow Adjustments	-	-	1	-	-	-
Net Cash Flow	44	89	-63	64	-175	290
Free Cash Flow	1,712	1,666	1,591	826	790	883
Free Cash Flow Growth	3.13%	4.71%	92.62%	4.56%	-10.53%	-18.24%
Free Cash Flow Margin	31.76%	32.90%	33.61%	20.23%	24.33%	24.99%
Free Cash Flow Per Share	8.39	8.11	7.80	4.20	4.62	5.17
Cash Interest Paid	292	304	347	309	296	274
Cash Income Tax Paid	97	24	4	23	32	22
Levered Free Cash Flow	1,337	1,344	1,157	669.25	605.38	689.75
Unlevered Free Cash Flow	1,502	1,532	1,377	827.38	783.5	880.38
Change in Working Capital	106	36	-22	-44	131	1

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