Garo Aktiebolag Cash Flow Statement

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

Millions SEK. 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	-17.5	-60.1	31.3	120.5	166.7
Depreciation & Amortization	53.8	33.3	31.9	24.8	24.4
Other Amortization	-	22.9	16.6	11.2	11.4
Other Operating Activities	-15.4	32.5	-37.3	3.4	14.9
Change in Accounts Receivable	15.6	23.7	68.1	14.8	-97.4
Change in Inventory	47.9	-12.8	-43.2	-102.8	-59.6
Change in Accounts Payable	-	-60.5	-7.8	21	42.5
Change in Other Net Operating Assets	-26.5	-14.8	-34	-3.7	18.8
Operating Cash Flow	57.9	-35.8	25.6	89.2	121.7
Operating Cash Flow Growth	-	-	-71.30%	-26.71%	40.05%
Capital Expenditures	-7.2	-11.1	-73.4	-89.3	-18.8
Sale of Property, Plant & Equipment	-	2.5	57.2	1.9	0.9
Cash Acquisitions	-	-	-	-0.9	-
Sale (Purchase) of Intangibles	-4.4	-8.5	-34.8	-30.8	-26.5
Other Investing Activities	-	-	-	-	0.1
Investing Cash Flow	-11.6	-17.1	-51	-119.1	-44.3
Short-Term Debt Issued	-	63.5	91.5	-	-
Long-Term Debt Issued	-	-	12.7	63.6	-
Total Debt Issued	-	63.5	104.2	63.6	-
Short-Term Debt Repaid	-	-	-	-1.2	-0.1
Long-Term Debt Repaid	-46.4	-45.4	-19.2	-16.3	-17.8
Total Debt Repaid	-46.4	-45.4	-19.2	-17.5	-17.9
Net Debt Issued (Repaid)	-46.4	18.1	85	46.1	-17.9
Common Dividends Paid	-	-	-40	-70	-47.5
Other Financing Activities	1.5	-	-	1.5	-
Financing Cash Flow	-44.9	18.1	45	-22.4	-65.4
Foreign Exchange Rate Adjustments	-0.9	1.3	0.9	0.2	0.3
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0.1
Net Cash Flow	0.5	-33.5	20.5	-52.1	12.2
Free Cash Flow	50.7	-46.9	-47.8	-0.1	102.9
Free Cash Flow Growth	-	-	-	-	43.11%
Free Cash Flow Margin	4.86%	-4.07%	-3.49%	-0.01%	7.94%
Free Cash Flow Per Share	1.01	-0.94	-0.96	-0.00	2.06
Cash Interest Paid	-	18.4	13.1	2.6	3.9
Cash Income Tax Paid	-	8.1	36.9	33.4	29.1
Levered Free Cash Flow	70.15	-5.84	-54.59	-40.33	52.54
Unlevered Free Cash Flow	77.84	5.66	-46.4	-38.7	54.98
Change in Working Capital	37	-64.4	-16.9	-70.7	-95.7

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