Netcompany Group Cash Flow Statement

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

Millions DKK. 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	227.4	470.2	303.5	603.4	576.14	321.92
Depreciation & Amortization	261.3	234.2	270.9	241.5	135.69	153.29
Other Amortization	70.1	70.1	51.8	31.2	3.52	11.14
Other Operating Activities	52.4	47.4	105.7	-43.8	-60.5	197.77
Change in Accounts Receivable	-159.3	-159.3	-300.8	-225.5	-146.95	-117.74
Change in Accounts Payable	304.3	304.3	327.5	166.2	-42.3	14.5
Change in Other Net Operating Assets	10.3	-	-	-	0	0
Operating Cash Flow	766.5	966.9	758.6	773	465.6	580.87
Operating Cash Flow Growth	-6.20%	27.46%	-1.86%	66.02%	-19.84%	26.19%
Capital Expenditures	-99.8	-73.7	-98.5	-52.2	-46.25	-23.87
Sale of Property, Plant & Equipment	-	-	9.4	0.5	2.32	-
Cash Acquisitions	-1,000	-	-	-50	-1,139	-
Sale (Purchase) of Intangibles	-115.3	-91	-107.9	-118	-11.3	-
Investment in Securities	12.4	-13.6	-105.7	4.4	-55	-75
Other Investing Activities	302.6	0.1	-0.1	-29	-5.73	-2.78
Investing Cash Flow	-900.5	-178.2	-302.8	-244.3	-1,254	-101.65
Long-Term Debt Issued	-	-	127.5	2,183	1,701	-
Long-Term Debt Repaid	-	-261.5	-438.8	-2,697	-669.06	-245.65
Net Debt Issued (Repaid)	822.2	-261.5	-311.3	-514.5	1,031	-245.65
Repurchase of Common Stock	-451.8	-727.5	-32	-131.5	-99.99	-
Common Dividends Paid	-	-	-	-	-49.1	-
Other Financing Activities	0.1	0.1	-0.1	-	-	-
Financing Cash Flow	370.5	-988.9	-343.4	-646	882.39	-245.65
Foreign Exchange Rate Adjustments	-3.4	3.1	-0.4	-5.4	6.28	-6.93
Miscellaneous Cash Flow Adjustments	-0.1	-0.1	0.1	-0.1	-	0
Net Cash Flow	233	-197.2	112.1	-122.8	99.78	226.65
Free Cash Flow	666.7	893.2	660.1	720.8	419.35	557
Free Cash Flow Growth	-12.14%	35.31%	-8.42%	71.89%	-24.71%	27.83%
Free Cash Flow Margin	9.13%	13.66%	10.86%	13.00%	11.55%	19.62%
Free Cash Flow Per Share	13.96	18.19	13.26	14.50	8.44	11.29
Cash Interest Paid	144.2	128.1	117.3	67.3	37.3	19.22
Cash Income Tax Paid	198.2	211.6	103.3	234.1	197.49	126.16
Levered Free Cash Flow	1,124	718.94	445.34	577.22	-8.97	469.09
Unlevered Free Cash Flow	1,197	802.13	516.46	607.78	2.66	480.12
Change in Working Capital	155.3	145	26.7	-59.3	-189.25	-103.25

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