Billerud AB 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	711	1,747	484	4,590	1,485
Depreciation & Amortization	2,868	2,855	2,772	2,472	1,910
Other Amortization	-	5	8	8	2
Loss (Gain) From Sale of Assets	-	-	-	-	123
Asset Writedown & Restructuring Costs	-14	-9	-	-	-
Loss (Gain) on Equity Investments	-310	-41	194	19	-89
Stock-Based Compensation	2	4	23	22	7
Other Operating Activities	42	-398	-894	797	258
Change in Accounts Receivable	-	-815	1,428	-1,387	-935
Change in Inventory	-	-422	1,105	-1,813	-259
Change in Other Net Operating Assets	-132	104	-1,830	2,121	1,390
Operating Cash Flow	3,167	3,030	3,290	6,829	3,892
Operating Cash Flow Growth	4.52%	-7.90%	-51.82%	75.46%	66.97%
Capital Expenditures	-2,656	-2,389	-3,177	-3,330	-1,526
Sale of Property, Plant & Equipment	22	19	9	32	1
Cash Acquisitions	-	-	-	-6,128	-
Divestitures	-	-	-80	-	29
Sale (Purchase) of Intangibles	-	-48	-	-	-
Investment in Securities	-4	6	55	-3	-3
Other Investing Activities	23	-	67	13	-
Investing Cash Flow	-2,615	-2,412	-3,126	-9,416	-1,499
Long-Term Debt Issued	-	4,349	7,718	6,328	-
Long-Term Debt Repaid	-753	-4,397	-5,700	-7,965	-1,014
Net Debt Issued (Repaid)	-753	-48	2,018	-1,637	-1,014
Issuance of Common Stock	-	-	-	3,497	-
Common Dividends Paid	-870	-497	-1,367	-890	-890
Other Financing Activities	-	-	-	-78	8
Financing Cash Flow	-1,623	-545	154	892	-1,896
Foreign Exchange Rate Adjustments	-209	184	-60	183	25
Net Cash Flow	-1,280	257	258	-1,512	522
Free Cash Flow	511	641	113	3,499	2,366
Free Cash Flow Growth	-20.28%	467.26%	-96.77%	47.89%	118.87%
Free Cash Flow Margin	1.26%	1.47%	0.27%	8.19%	9.00%
Free Cash Flow Per Share	2.06	2.58	0.46	15.32	11.42
Cash Interest Paid	-	426	224	131	98
Cash Income Tax Paid	257	428	561	453	141
Levered Free Cash Flow	688.5	580.63	1,107	-234.5	1,888
Unlevered Free Cash Flow	901	830	1,304	-158.88	1,943
Change in Working Capital	-132	-1,133	703	-1,079	196

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