VBG Group AB Cash Flow Statement

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

Millions SEK. 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	423.47	588.17	572.08	368.27	337.11	226.72
Depreciation & Amortization	168.5	147	129.24	133.66	104.21	109.15
Other Amortization	3.23	3.23	3.76	2.68	2.23	-
Loss (Gain) From Sale of Assets	-9.84	-9.84	-4.55	-44.54	-	-
Other Operating Activities	-1.87	-4.17	-22.23	73.6	27.06	7.06
Change in Accounts Receivable	-113.09	123.11	-125.35	-83.29	-140.81	71.99
Change in Inventory	40.89	121.79	92.79	-201.43	-195.44	29.97
Change in Accounts Payable	38.29	-107.21	-13.71	54.61	38.54	-3.95
Change in Other Net Operating Assets	-7.72	-65.72	90.81	-53.12	14.46	5.22
Operating Cash Flow	541.86	796.36	722.83	250.44	187.34	446.16
Operating Cash Flow Growth	-20.59%	10.17%	188.62%	33.68%	-58.01%	1.65%
Capital Expenditures	-554.22	-588.92	-111.53	-113.5	-31.78	-45.54
Sale of Property, Plant & Equipment	12.75	12.75	15.61	62.14	-	-
Cash Acquisitions	-450.93	-35.93	-243.42	-	-146.27	-4.36
Sale (Purchase) of Intangibles	-4.92	-3.02	-3.28	-4.6	-30.35	-0.74
Investment in Securities	16.14	-1.46	-	-	-	-
Other Investing Activities	0.2	-	-	-	-0	-
Investing Cash Flow	-980.98	-616.58	-342.62	-55.96	-208.4	-50.64
Long-Term Debt Issued	-	98.28	183.53	-	136.28	80.1
Long-Term Debt Repaid	-	-47.55	-31.73	-252.93	-250.6	-26
Net Debt Issued (Repaid)	497.34	50.74	151.81	-252.93	-114.32	54.11
Common Dividends Paid	-181.33	-175.03	-137.52	-125.02	-112.52	-
Other Financing Activities	-	-	-	-	-0	-
Financing Cash Flow	316.01	-124.29	14.28	-377.95	-226.84	54.11
Foreign Exchange Rate Adjustments	-24.28	8.22	-7.39	14.87	15.83	-22.59
Miscellaneous Cash Flow Adjustments	-0.2	-	-	-	0	-
Net Cash Flow	-147.59	63.71	387.1	-168.6	-232.06	427.03
Free Cash Flow	-12.36	207.44	611.3	136.94	155.57	400.61
Free Cash Flow Growth	-	-66.06%	346.39%	-11.97%	-61.17%	10.21%
Free Cash Flow Margin	-0.23%	3.72%	10.65%	2.99%	4.31%	12.73%
Free Cash Flow Per Share	-0.49	8.30	24.45	5.48	6.22	16.02
Cash Interest Paid	56.85	56.65	67.5	24.32	15.14	16.87
Cash Income Tax Paid	144.53	157.03	176.02	99.78	103.37	78.95
Levered Free Cash Flow	-184.9	-4.1	480.32	-69.96	-50.37	448.05
Unlevered Free Cash Flow	-148.62	32.11	518.43	-46.58	-41.54	460.05
Change in Working Capital	-41.63	71.97	44.54	-283.22	-283.26	103.23

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