Cavendish Hydrogen ASA Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-26.64	-22.76	-28.89
Depreciation & Amortization	4.05	4.57	4.69
Asset Writedown & Restructuring Costs	1.12	0.05	0.05
Loss (Gain) From Sale of Investments	-	0.84	2.74
Stock-Based Compensation	0.52	0.23	-
Other Operating Activities	-0.38	-0.52	1.17
Change in Accounts Receivable	-3.38	-3.73	10.4
Change in Inventory	5.85	8.99	-6.35
Change in Accounts Payable	-0.57	-2.94	-4.07
Change in Other Net Operating Assets	1.11	-8.77	1.46
Operating Cash Flow	-18.32	-24.03	-18.81
Capital Expenditures	-0.42	-1.6	-1.24
Sale of Property, Plant & Equipment	0.13	0.01	-
Sale (Purchase) of Intangibles	-1.95	-6.23	-3.04
Other Investing Activities	-	0	-
Investing Cash Flow	-2.24	-7.82	-4.28
Long-Term Debt Issued	-	2.51	28.36
Long-Term Debt Repaid	-0.35	-0.45	-0.51
Net Debt Issued (Repaid)	-0.35	2.06	27.85
Issuance of Common Stock	-	72.28	-
Other Financing Activities	-0.22	-6.97	-0.72
Financing Cash Flow	-0.57	67.38	27.13
Foreign Exchange Rate Adjustments	-0.45	-0.76	0.33
Net Cash Flow	-21.58	34.76	4.36
Free Cash Flow	-18.75	-25.63	-20.05
Free Cash Flow Margin	-117.44%	-81.75%	-65.96%
Free Cash Flow Per Share	-0.56	-0.76	-0.60
Cash Interest Paid	0.08	0.11	0.09
Levered Free Cash Flow	-10.92	-18.59	-
Unlevered Free Cash Flow	-10.84	-18.43	-
Change in Working Capital	3.01	-6.45	1.44

Source: S&P Global Market Intelligence. Standard template. Financial Sources.