Garo Aktiebolag 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	-14.5	-60.1	31.3	120.5	166.7	95.4
Depreciation & Amortization	30.9	33.3	31.9	24.8	24.4	22.6
Other Amortization	22.9	22.9	16.6	11.2	11.4	4.3
Other Operating Activities	-18.4	32.5	-37.3	3.4	14.9	-2.5
Change in Accounts Receivable	34.6	23.7	68.1	14.8	-97.4	-25.8
Change in Inventory	28.7	-12.8	-43.2	-102.8	-59.6	-12
Change in Accounts Payable	-60.5	-60.5	-7.8	21	42.5	5.7
Change in Other Net Operating Assets	34.3	-14.8	-34	-3.7	18.8	-0.8
Operating Cash Flow	58	-35.8	25.6	89.2	121.7	86.9
Operating Cash Flow Growth	-	-	-71.30%	-26.71%	40.05%	-28.71%
Capital Expenditures	-6.1	-11.1	-73.4	-89.3	-18.8	-15
Sale of Property, Plant & Equipment	2.5	2.5	57.2	1.9	0.9	-
Cash Acquisitions	-	-	-	-0.9	-	-5.7
Sale (Purchase) of Intangibles	-4.5	-8.5	-34.8	-30.8	-26.5	-24.6
Other Investing Activities	0.1	-	-	-	0.1	-
Investing Cash Flow	-8	-17.1	-51	-119.1	-44.3	-45.3
Short-Term Debt Issued	-	63.5	91.5	-	-	-
Long-Term Debt Issued	-	-	12.7	63.6	-	-
Total Debt Issued	-1.8	63.5	104.2	63.6	-	-
Short-Term Debt Repaid	-	-	-	-1.2	-0.1	-
Long-Term Debt Repaid	-	-45.4	-19.2	-16.3	-17.8	-12.7
Total Debt Repaid	-53.8	-45.4	-19.2	-17.5	-17.9	-12.7
Net Debt Issued (Repaid)	-55.6	18.1	85	46.1	-17.9	-12.7
Common Dividends Paid	-	-	-40	-70	-47.5	-
Other Financing Activities	2.7	-	-	1.5	-	-
Financing Cash Flow	-52.9	18.1	45	-22.4	-65.4	-12.7
Foreign Exchange Rate Adjustments	-1	1.3	0.9	0.2	0.3	-0.3
Miscellaneous Cash Flow Adjustments	-0.1	-	-	-	-0.1	-
Net Cash Flow	-4	-33.5	20.5	-52.1	12.2	28.6
Free Cash Flow	51.9	-46.9	-47.8	-0.1	102.9	71.9
Free Cash Flow Growth	-	-	-	-	43.11%	-32.11%
Free Cash Flow Margin	4.87%	-4.07%	-3.49%	-0.01%	7.94%	6.87%
Free Cash Flow Per Share	1.04	-0.94	-0.96	-0.00	2.06	1.44
Cash Interest Paid	18.4	18.4	13.1	2.6	3.9	4.6
Cash Income Tax Paid	8.1	8.1	36.9	33.4	29.1	36.9
Levered Free Cash Flow	104.89	-5.84	-54.59	-40.33	52.54	51.06
Unlevered Free Cash Flow	118.58	5.66	-46.4	-38.7	54.98	53.94
Change in Working Capital	37.1	-64.4	-16.9	-70.7	-95.7	-32.9

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