HAV Group 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	11.79	-30.77	-4.32	-0.48	70.54	21.64
Depreciation & Amortization	4.45	3.32	3.53	2.07	1.45	0.62
Other Amortization	13.08	13.08	13.46	15.74	16.01	15.98
Other Operating Activities	-16.24	-21.4	-3.58	-0.77	14.28	-13.52
Change in Accounts Receivable	91.43	-82.12	26.65	2.9	-40.05	60.87
Change in Inventory	0.17	2.5	-9.88	-5.88	-12.96	-7.62
Change in Accounts Payable	40.33	45.35	3.78	-12.59	-216.32	70.57
Change in Other Net Operating Assets	-9.46	170.09	-35.06	-73.05	441.8	-150.55
Operating Cash Flow	135.55	100.05	-5.41	-72.07	274.75	-2.01
Capital Expenditures	-3.44	-3.91	-7.79	-4.73	-2.37	-
Cash Acquisitions	-0.93	-0.93	-2.11	-9.67	-	-
Sale (Purchase) of Intangibles	-8.89	-7.87	-18.72	-10.35	-11.06	-17.81
Investment in Securities	-	-	1.8	-2	-	-
Other Investing Activities	-	-	0	-	0.39	0.72
Investing Cash Flow	-13.25	-12.7	-26.81	-26.74	-13.04	-17.09
Long-Term Debt Issued	-	36	-	-	7.5	1
Long-Term Debt Repaid	-	-52.75	-19.37	-20.34	-8.97	-1.5
Net Debt Issued (Repaid)	-35.11	-16.75	-19.37	-20.34	-1.47	-0.5
Issuance of Common Stock	29.62	29.37	-	-	86.67	-
Repurchase of Common Stock	-	-1.51	-20.28	-32.89	-1.82	-
Other Financing Activities	5.74	-	-	-	-3.22	-3.54
Financing Cash Flow	0.26	11.11	-39.65	-53.23	80.16	-4.04
Miscellaneous Cash Flow Adjustments	0	-	-	-	0	-
Net Cash Flow	122.56	98.45	-71.87	-152.04	341.87	-23.14
Free Cash Flow	132.11	96.14	-13.2	-76.79	272.38	-2.01
Free Cash Flow Margin	15.75%	12.67%	-2.14%	-12.35%	29.71%	-0.31%
Free Cash Flow Per Share	3.68	2.74	-0.34	-2.30	7.80	-0.06
Cash Interest Paid	-	-	-	-	3.22	3.54
Cash Income Tax Paid	0.69	0.69	-	3.22	-	-
Levered Free Cash Flow	113.82	97.59	-34.57	-92.88	243.01	-11.27
Unlevered Free Cash Flow	116.54	99.62	-32.68	-90.79	245.03	-9.05
Change in Working Capital	122.47	135.82	-14.5	-88.62	172.48	-26.73

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