NCAB Group 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	206	254.87	403.74	416.96	284.92
Depreciation & Amortization	-	107.46	98.69	75.14	38.03
Other Amortization	-	6.22	-	1.62	3.46
Other Operating Activities	91.2	-61.11	-73.15	-3.61	82.07
Change in Accounts Receivable	-115.8	20.63	234.59	70.32	-324.58
Change in Inventory	-29.2	44.59	193.33	44.29	-324.38
Change in Other Net Operating Assets	134.6	-18.61	-156.9	-36.83	288.43
Operating Cash Flow	286.8	354.16	700.43	568.09	48.28
Operating Cash Flow Growth	-19.02%	-49.44%	23.30%	1076.62%	-75.16%
Capital Expenditures	-3.4	-4.75	-4.83	-10.37	-3.31
Cash Acquisitions	-263.9	-274.03	-436.27	-178.33	-567.86
Sale (Purchase) of Intangibles	-3	-0.26	-47.85	-32.38	-1.44
Investment in Securities	-1.7	-	-	-	-
Other Investing Activities	0.1	-2.64	-1.8	2.7	-3.31
Investing Cash Flow	-271.9	-281.69	-490.75	-218.37	-575.92
Short-Term Debt Issued	-	-	-	-	189.05
Long-Term Debt Issued	100	1,000	160	190	650
Total Debt Issued	100	1,000	160	190	839.05
Short-Term Debt Repaid	-	-	-	-189.05	-
Long-Term Debt Repaid	-37.6	-1,037	-32.55	-29.58	-351.67
Total Debt Repaid	-37.6	-1,037	-32.55	-218.63	-351.67
Net Debt Issued (Repaid)	62.4	-37.47	127.45	-28.63	487.38
Common Dividends Paid	-0.1	-205.79	-205.67	-112.18	-93.49
Other Financing Activities	-10	-25.89	-	-	-6.17
Financing Cash Flow	52.3	-269.14	-78.22	-140.81	200.75
Foreign Exchange Rate Adjustments	-44	28.62	-10.67	12.23	14.56
Miscellaneous Cash Flow Adjustments	-	0	-	-	-
Net Cash Flow	23.2	-168.05	120.79	221.13	-312.32
Free Cash Flow	283.4	349.41	695.59	557.72	44.97
Free Cash Flow Growth	-18.89%	-49.77%	24.72%	1140.12%	-76.76%
Free Cash Flow Margin	7.57%	9.67%	17.02%	12.51%	1.40%
Free Cash Flow Per Share	1.51	1.86	3.71	2.98	0.24
Cash Interest Paid	46	63.63	63.46	26.93	14.99
Cash Income Tax Paid	113.9	121.27	175.74	91.23	35.2
Levered Free Cash Flow	119.93	264.95	549.89	332.11	8.09
Unlevered Free Cash Flow	149.5	304.72	587.56	347.6	14.88
Change in Working Capital	-10.4	46.61	271.02	77.78	-360.53

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