AF Gruppen ASA Cash Flow Statement

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

Millions NOK. 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	1,093	708	402	958	1,019
Depreciation & Amortization	772	697	576	528	567
Loss (Gain) From Sale of Assets	-	-65	-53	-50	-70
Asset Writedown & Restructuring Costs	-	4	-	-	-
Loss (Gain) From Sale of Investments	-179	-14	-20	-10	-35
Loss (Gain) on Equity Investments	-	-33	31	-134	-101
Stock-Based Compensation	-	64	56	55	62
Other Operating Activities	543	143	-115	155	313
Change in Accounts Receivable	-	585	375	-886	-672
Change in Inventory	-	-119	-164	-169	18
Change in Accounts Payable	-	247	464	1,013	314
Change in Other Net Operating Assets	809	-	-	-	-
Operating Cash Flow	3,038	2,217	1,552	1,460	1,415
Operating Cash Flow Growth	37.03%	42.85%	6.30%	3.18%	19.01%
Capital Expenditures	-	-255	-535	-291	-207
Sale of Property, Plant & Equipment	-	125	85	118	113
Cash Acquisitions	-	-43	-32	-70	-
Investment in Securities	-	-119	-102	-59	-62
Other Investing Activities	-3	98	61	353	124
Investing Cash Flow	-3	-226	-613	67	175
Long-Term Debt Issued	-	14	1	381	50
Long-Term Debt Repaid	-561	-447	-516	-352	-393
Net Debt Issued (Repaid)	-561	-433	-515	29	-343
Issuance of Common Stock	104	72	81	85	143
Repurchase of Common Stock	-7	-8	-2	-9	-
Common Dividends Paid	-986	-380	-700	-1,125	-1,116
Other Financing Activities	-248	-549	-265	-417	-249
Financing Cash Flow	-1,698	-1,298	-1,401	-1,437	-1,565
Foreign Exchange Rate Adjustments	22	-7	44	-4	-52
Miscellaneous Cash Flow Adjustments	-1	-	-	-1	-1
Net Cash Flow	1,358	686	-418	85	-28
Free Cash Flow	3,038	1,962	1,017	1,169	1,208
Free Cash Flow Growth	54.84%	92.92%	-13.00%	-3.23%	24.54%
Free Cash Flow Margin	9.50%	6.42%	3.34%	3.75%	4.34%
Free Cash Flow Per Share	27.60	18.07	9.44	10.94	11.35
Cash Interest Paid	71	111	99	41	35
Cash Income Tax Paid	102	298	470	299	283
Levered Free Cash Flow	2,746	1,416	1,201	1,063	984.38
Unlevered Free Cash Flow	2,752	1,486	1,262	1,090	1,008
Change in Working Capital	809	713	675	-42	-340

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