Icelandair Group Cash Flow Statement

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

Millions USD. 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	-9.33	-20.56	10.73	-8.46	-104.3
Depreciation & Amortization	173.81	154.07	135.48	118.88	113.14
Other Amortization	60.79	54.7	27.56	19.21	15.95
Loss (Gain) From Sale of Assets	-10.11	-1.3	-2.08	-6.03	-17.33
Loss (Gain) on Equity Investments	-3.61	-0.67	0.93	-1.85	3.85
Other Operating Activities	-15.06	4.08	-10.45	12.56	-43.93
Change in Accounts Receivable	3.01	-42.98	12.33	-37.97	-21.9
Change in Inventory	-0.53	2.49	-0.13	3.02	-1.29
Change in Accounts Payable	66.45	37.52	26.45	47.06	29.13
Change in Unearned Revenue	39.58	33.82	14.32	44.2	77.3
Operating Cash Flow	305.01	221.16	215.12	190.62	50.61
Operating Cash Flow Growth	37.92%	2.81%	12.85%	276.63%	-
Capital Expenditures	-102.8	-110.46	-133.85	-311.56	-170.1
Sale of Property, Plant & Equipment	15.67	4.56	0.97	112.22	197.04
Divestitures	-	-	4.18	-	6.42
Sale (Purchase) of Intangibles	-2.73	-1.59	-0.63	-0.42	-0.29
Investment in Securities	-64.11	-33.34	-25.77	15.32	-19.09
Other Investing Activities	-23.83	-23.96	-28.6	5.4	-9.34
Investing Cash Flow	-177.8	-164.8	-183.7	-179.04	4.63
Long-Term Debt Issued	19.44	-	63.46	42	3.23
Total Debt Issued	19.44	-	63.46	42	3.23
Long-Term Debt Repaid	-126.04	-105.39	-120.08	-85.32	-50.62
Total Debt Repaid	-126.04	-105.39	-120.08	-85.32	-50.62
Net Debt Issued (Repaid)	-106.6	-105.39	-56.62	-43.32	-47.39
Issuance of Common Stock	0.9	-	-	52.39	80.21
Financing Cash Flow	-105.7	-105.39	-56.62	9.07	32.81
Foreign Exchange Rate Adjustments	23.72	-0.25	0.46	-1.16	-0.95
Net Cash Flow	45.23	-49.28	-24.74	19.49	87.11
Free Cash Flow	202.21	110.7	81.27	-120.94	-119.49
Free Cash Flow Growth	82.66%	36.21%	-	-	-
Free Cash Flow Margin	11.68%	7.05%	5.34%	-9.58%	-20.72%
Free Cash Flow Per Share	0.01	0.00	0.00	-0.00	-0.00
Cash Interest Paid	41.73	38.49	39.81	24.84	18.21
Levered Free Cash Flow	174.71	110.78	49.9	-130.99	-66.64
Unlevered Free Cash Flow	204.96	136.44	75.34	-114.05	-53.65
Change in Working Capital	108.51	30.84	52.97	56.32	83.24

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.