AF Gruppen ASA Cash Flow Statement

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

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1,043	708	402	958	1,019	971
Depreciation & Amortization	742	697	576	528	567	573
Loss (Gain) From Sale of Assets	-65	-65	-53	-50	-70	-88
Asset Writedown & Restructuring Costs	4	4	-	-	-	-
Loss (Gain) From Sale of Investments	-57	-14	-20	-10	-35	-
Loss (Gain) on Equity Investments	-33	-33	31	-134	-101	-216
Stock-Based Compensation	64	64	56	55	62	51
Other Operating Activities	333	143	-115	155	313	134
Change in Accounts Receivable	585	585	375	-886	-672	225
Change in Inventory	-119	-119	-164	-169	18	-8
Change in Accounts Payable	247	247	464	1,013	314	-453
Operating Cash Flow	2,990	2,217	1,552	1,460	1,415	1,189
Operating Cash Flow Growth	50.10%	42.85%	6.30%	3.18%	19.01%	-21.15%
Capital Expenditures	-255	-255	-535	-291	-207	-219
Sale of Property, Plant & Equipment	125	125	85	118	113	113
Cash Acquisitions	-43	-43	-32	-70	-	-2
Divestitures	-	-	-	-	-	1
Investment in Securities	-119	-119	-102	-59	-62	-110
Other Investing Activities	334	98	61	353	124	371
Investing Cash Flow	10	-226	-613	67	175	112
Long-Term Debt Issued	-	14	1	381	50	37
Long-Term Debt Repaid	-	-447	-516	-352	-393	-336
Net Debt Issued (Repaid)	-1,024	-433	-515	29	-343	-299
Issuance of Common Stock	72	72	81	85	143	410
Repurchase of Common Stock	-7	-8	-2	-9	-	-10
Common Dividends Paid	-546	-380	-700	-1,125	-1,116	-1,001
Other Financing Activities	-382	-549	-265	-417	-249	-266
Financing Cash Flow	-1,887	-1,298	-1,401	-1,437	-1,565	-1,166
Foreign Exchange Rate Adjustments	-9	-7	44	-4	-52	10
Miscellaneous Cash Flow Adjustments	-	-	-	-1	-1	-
Net Cash Flow	1,104	686	-418	85	-28	145
Free Cash Flow	2,735	1,962	1,017	1,169	1,208	970
Free Cash Flow Growth	87.71%	92.92%	-13.00%	-3.23%	24.54%	-18.07%
Free Cash Flow Margin	8.74%	6.42%	3.34%	3.75%	4.34%	3.59%
Free Cash Flow Per Share	24.97	18.07	9.44	10.94	11.35	9.26
Cash Interest Paid	79	111	99	41	35	58
Cash Income Tax Paid	252	298	470	299	283	376
Levered Free Cash Flow	2,127	1,416	1,201	1,063	984.38	768
Unlevered Free Cash Flow	2,179	1,486	1,262	1,090	1,008	801.75
Change in Working Capital	959	713	675	-42	-340	-236

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.