AF Gruppen 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	1,662	1,085	700	1,400	1,580
Depreciation & Amortization	772	701	575	528	567
Other Adjustments	-205	-225	-481	-498	-403
Change in Receivables	-	585	375	-986	-572
Changes in Inventories	-	-119	-164	-169	18
Changes in Accounts Payable	-	247	464	1,313	314
Changes in Other Operating Activities	809	-	-	-	-
Operating Cash Flow	3,038	2,217	1,552	1,460	1,415
Operating Cash Flow Growth	37.03%	42.85%	6.30%	3.18%	19.01%
Capital Expenditures	-	-255	-535	-291	-207
Sale of Property, Plant & Equipment	-	25	4	11	57
Purchases of Investments	-	-144	-106	-70	-119
Proceeds from Sale of Investments	-	53	37	329	109
Payments for Business Acquisitions	-	-43	-32	-70	-
Proceeds from Business Divestments	-	125	85	118	113
Other Investing Activities	-	4	-65	41	374
Investing Cash Flow	-3	-226	-613	67	175
Long-Term Debt Issued	-	14	1	381	50
Long-Term Debt Repaid	-561	-447	-516	-352	-393
Net Long-Term Debt Issued (Repaid)	-561	-433	-515	29	-343
Issuance of Common Stock	97	72	81	85	119
Repurchase of Common Stock	-	-8	-2	-9	21
Net Common Stock Issued (Repurchased)	97	64	79	76	140
Common Dividends Paid	-986	-380	-700	-1,125	-1,116
Other Financing Activities	-247	-548	-264	-318	-246
Financing Cash Flow	-1,698	-1,298	-1,401	-1,437	-1,565
Effect of Exchange Rate Changes on Cash and Cash Equivalents	22	-7	44	-4	-52
Net Cash Flow	1,337	693	-462	90	24
Free Cash Flow	3,038	1,962	1,017	1,169	1,208
Free Cash Flow Growth	54.84%	92.92%	-13.00%	-3.23%	24.79%
FCF Margin	9.50%	3.22%	1.68%	1.88%	4.33%
Free Cash Flow Per Share	-	18.07	9.44	10.93	11.35
Levered Free Cash Flow	2,113	849	227	2,368	1,368
Unlevered Free Cash Flow	2,876	1,457	891.05	2,540	1,905

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.