Borgestad 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	-1.55	45.23	-78.28	-124.81	-24.08
Depreciation & Amortization	39.83	34.73	31.75	31.8	33.31
Loss (Gain) From Sale of Assets	-	-5.48	0.03	-	-
Asset Writedown & Restructuring Costs	-	-	90.13	91.71	-38.76
Loss (Gain) From Sale of Investments	-	-	1.31	-9.54	27.25
Other Operating Activities	35.5	24.91	39.32	-3.13	-18.07
Change in Accounts Receivable	-	49.91	82.67	-36.62	26.65
Change in Other Net Operating Assets	-40.08	-	-	-	-
Operating Cash Flow	33.7	149.3	166.91	-50.59	6.3
Operating Cash Flow Growth	-77.43%	-10.55%	-	-	-
Capital Expenditures	-20.23	-7.49	-37.91	-12.41	-19.73
Sale of Property, Plant & Equipment	0.19	6.08	1.33	0.14	77.69
Cash Acquisitions	-26.03	-	-	-	-
Sale (Purchase) of Intangibles	-	-0.41	-	-	-
Sale (Purchase) of Real Estate	-	-4.33	-	-6.72	-
Investment in Securities	-	-13.19	-	9.81	-4.36
Other Investing Activities	-	-	-	1.04	1.71
Investing Cash Flow	-46.07	-19.34	-36.58	-8.15	55.3
Short-Term Debt Issued	11.84	-	-	58.54	-
Long-Term Debt Issued	14.85	-	-	-	65.28
Total Debt Issued	26.68	-	-	58.54	65.28
Short-Term Debt Repaid	-	-24.1	-34.44	-	-81.34
Long-Term Debt Repaid	-40.88	-38.09	-330.99	-172.1	-59.14
Total Debt Repaid	-40.88	-62.19	-365.43	-172.1	-140.48
Net Debt Issued (Repaid)	-14.2	-62.19	-365.43	-113.56	-75.2
Issuance of Common Stock	-	-	296.73	215.02	-
Common Dividends Paid	-28.05	-	-	-	-
Other Financing Activities	-13.27	-	-	-	0
Financing Cash Flow	-55.52	-62.19	-68.7	101.46	-75.2
Miscellaneous Cash Flow Adjustments	-0	-	-	-	-0
Net Cash Flow	-67.89	67.77	61.63	42.72	-13.59
Free Cash Flow	13.47	141.82	129	-63	-13.43
Free Cash Flow Growth	-90.50%	9.93%	-	-	-
Free Cash Flow Margin	1.20%	12.44%	11.66%	-6.86%	-1.52%
Free Cash Flow Per Share	0.35	4.04	15.18	-22.47	-42.24
Cash Income Tax Paid	-	12.15	1.68	3.61	-
Levered Free Cash Flow	-15.7	120.71	-21.53	30.86	-21.52
Unlevered Free Cash Flow	3.33	137.84	10.91	60.5	11.4
Change in Working Capital	-40.08	49.91	82.67	-36.62	26.65

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