FLSmidth & Co. Cash Flow Statement

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

Millions DKK. 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	714	1,018	497	370	358
Depreciation & Amortization	363	391	499	560	551
Other Amortization	154	65	62	121	125
Loss (Gain) From Sale of Assets	18	51	-85	4	-56
Other Operating Activities	597	-589	-241	-271	-239
Change in Accounts Receivable	114	409	431	92	-547
Change in Inventory	-559	-149	310	-680	10
Change in Accounts Payable	-339	-475	-208	379	216
Change in Unearned Revenue	-372	-61	-810	183	1,183
Change in Other Net Operating Assets	-119	-387	339	220	-133
Operating Cash Flow	996	640	623	968	1,449
Operating Cash Flow Growth	55.63%	2.73%	-35.64%	-33.20%	1.97%
Capital Expenditures	-392	-384	-176	-88	-116
Sale of Property, Plant & Equipment	235	67	71	159	39
Cash Acquisitions	-22	-107	-118	-2,120	-11
Divestitures	-139	232	283	1	2
Sale (Purchase) of Intangibles	-193	-312	-323	-245	-179
Investment in Securities	-6	-4	6	-17	-8
Investing Cash Flow	-517	-508	-257	-2,310	-273
Long-Term Debt Issued	685	-	-	1,906	-
Long-Term Debt Repaid	-93	-163	-882	-134	-1,655
Net Debt Issued (Repaid)	592	-163	-882	1,772	-1,655
Issuance of Common Stock	-	-	-	-	1,477
Repurchase of Common Stock	-1,033	-20	-1	-	-
Common Dividends Paid	-457	-228	-170	-170	-101
Other Financing Activities	-1	-2	-13	-6	3
Financing Cash Flow	-899	-413	-1,066	1,596	-276
Foreign Exchange Rate Adjustments	-56	-1	-78	-59	59
Net Cash Flow	-476	-282	-778	195	959
Free Cash Flow	604	256	447	880	1,333
Free Cash Flow Growth	135.94%	-42.73%	-49.20%	-33.98%	6.64%
Free Cash Flow Margin	4.13%	1.63%	1.85%	4.03%	7.58%
Free Cash Flow Per Share	10.67	4.46	7.82	15.47	25.59
Cash Interest Paid	143	164	164	86	93
Cash Income Tax Paid	630	876	850	471	537
Levered Free Cash Flow	191.38	-203.38	1,546	1,110	1,279
Unlevered Free Cash Flow	264.5	-115.88	1,646	1,163	1,332
Change in Working Capital	-1,275	-663	62	194	729

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