HMS Networks AB Cash Flow Statement

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

Millions SEK. 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	435	309.68	570.65	507.79	354.85
Depreciation & Amortization	268	184.05	97.26	79.07	69.79
Other Amortization	-	34.59	27.36	21.68	24.01
Loss (Gain) From Sale of Assets	-	2.14	-	-	-
Asset Writedown & Restructuring Costs	-	-	0.57	7.13	8.52
Stock-Based Compensation	-	-0.66	10.35	10.22	9.47
Other Operating Activities	5	-1.91	44.33	21.53	69.62
Change in Accounts Receivable	-	123.28	-2.82	-84.97	-92.51
Change in Inventory	-	107.57	-242.41	-166.15	-28.96
Change in Accounts Payable	-	-183.05	36.71	50.56	57.49
Change in Other Net Operating Assets	169	16.33	-23.13	-15.74	36.2
Operating Cash Flow	877	592.02	518.86	431.11	508.49
Operating Cash Flow Growth	48.14%	14.10%	20.35%	-15.22%	37.51%
Capital Expenditures	-63	-39.38	-38.08	-33.6	-15.04
Sale of Property, Plant & Equipment	-	0.24	-	0.04	0.23
Cash Acquisitions	-	-4,375	-55.06	-280.41	-44.62
Divestitures	-	41.22	-	-	-
Sale (Purchase) of Intangibles	-70	-81.69	-35.8	-49.45	-24.14
Investment in Securities	-2	5.93	-6.18	-2.51	-16.47
Investing Cash Flow	-135	-4,449	-135.12	-365.93	-100.04
Long-Term Debt Issued	-	4,614	151.97	259.71	25.94
Total Debt Issued	-	4,614	151.97	259.71	25.94
Long-Term Debt Repaid	-711	-1,795	-351.83	-185.5	-235.41
Net Debt Issued (Repaid)	-711	2,818	-199.86	74.21	-209.47
Issuance of Common Stock	-	1,390	-	-	-
Repurchase of Common Stock	-	-11.24	-13.14	-34.24	-18.81
Common Dividends Paid	-4	-224.69	-186.62	-139.93	-93.32
Other Financing Activities	-	-145.22	-0.61	1	0.75
Financing Cash Flow	-715	3,827	-400.23	-98.96	-320.86
Foreign Exchange Rate Adjustments	-11	-20.15	-3.65	5.77	3.04
Miscellaneous Cash Flow Adjustments	-1	-	-	-	-
Net Cash Flow	15	-50.1	-20.14	-28.01	90.63
Free Cash Flow	814	552.64	480.78	397.51	493.45
Free Cash Flow Growth	47.29%	14.95%	20.95%	-19.44%	35.72%
Free Cash Flow Margin	22.76%	18.07%	15.90%	15.86%	25.03%
Free Cash Flow Per Share	16.19	11.31	10.27	8.49	10.53
Cash Interest Paid	-	120.02	12.36	6.06	3.48
Cash Income Tax Paid	-	134.02	128.74	84.02	32.94
Levered Free Cash Flow	832.43	-85.41	293.27	262.55	393.44
Unlevered Free Cash Flow	902.43	-10.4	301	266.34	395.62
Change in Working Capital	169	64.13	-231.65	-216.3	-27.78

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