Borregaard ASA Cash Flow Statement

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

Millions NOK. 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	620	823	870	892	692
Depreciation & Amortization	591	544	473	434	405
Other Amortization	-	17	17	15	15
Other Operating Activities	269	10	-2	52	63
Change in Other Net Operating Assets	-124	-326	205	-658	256
Operating Cash Flow	1,356	1,068	1,563	735	1,431
Operating Cash Flow Growth	26.97%	-31.67%	112.65%	-48.64%	61.51%
Capital Expenditures	-793	-693	-651	-459	-537
Sale (Purchase) of Intangibles	-	-18	-16	-5	-19
Investment in Securities	-132	-150	-171	-	-145
Other Investing Activities	18	19	9	9	9
Investing Cash Flow	-907	-842	-829	-455	-692
Long-Term Debt Issued	950	500	800	837	300
Long-Term Debt Repaid	-1,047	-724	-843	-512	-814
Net Debt Issued (Repaid)	-97	-224	-43	325	-514
Issuance of Common Stock	48	52	49	41	59
Repurchase of Common Stock	-30	-98	-92	-68	-118
Common Dividends Paid	-424	-374	-324	-499	-249
Other Financing Activities	44	-35	-5	-1	-15
Financing Cash Flow	-459	-679	-415	-202	-837
Foreign Exchange Rate Adjustments	-3	21	-1	28	7
Net Cash Flow	-13	-432	318	106	-91
Free Cash Flow	563	375	912	276	894
Free Cash Flow Growth	50.13%	-58.88%	230.44%	-69.13%	128.06%
Free Cash Flow Margin	7.30%	4.92%	12.79%	4.01%	15.40%
Free Cash Flow Per Share	5.64	3.76	9.13	2.76	8.97
Cash Income Tax Paid	265	268	265	208	124
Levered Free Cash Flow	57.63	302	834	149.25	603.25
Unlevered Free Cash Flow	141.38	422.63	940.88	204.25	642
Change in Working Capital	-124	-326	205	-658	256

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